The Illusion EA uses the probability theory - after a series of consecutive virtual losses - i.e. right during a flat the EA already starts trading in the trend. In addition, the EA considers the ratio of bullish/bearish candles on the higher timeframes to determine the greatest probability of the price movement direction.
Only 1 order can be opened at a time. In case of a loss the following order will be placed with an increased lot (the multiplication coefficient is set in the parameters).
The EA can simultaneously work on multiple charts of different trading instruments or different timeframes of one currency pair. If a trader wishes to operate on a single trading instrument but on different timeframes, - set unique Magic numbers for each chart in the EA settings. Simply put - change magic numbers for each chart.
By default the EA is configured for trading EURUSD M30.
The recommended minimum deposit to start working is - 1000 for the initial lot of 0.01.
The main external parameters affecting the Profit factor:
- The number of consecutive unprofitable orders - the greater the number, the more accurate the entry;
- Take profit - Decrease the value for the smaller timeframes and increase it for the higher timeframes;
- Stop loss - the same as with Take profit.
To avoid mistakes when trading on cent accounts, the EA does not automatically adjust to 4- and 5-digit quotes. Therefore, for 4-digit quotes the Take profit and Stop loss parameters must be divided by 10. For example, the default Take profit is 750 points (for 5-digits). So, for 4-digits, 750 must be divided by 10 = 75. The value 75 must be entered in the Take profit field.
For 5-digit quotes these steps are not required.
- Count real virtual trade - the number of unprofitable virtual orders in a row;
- Trading Start Lot - the initial trading lot;
- Multiplier - order multiplier, if the previous was closed in a loss;
- Take Profit - Take profit;
- Stop Loss - Stop loss;
- Magic Number - the magic number for the EA to distinguish its orders.
- ShowInfoPanel - display the information panel.