Om Mani Padme Hum
Note: EA does not use risky strategies like Grid, Martingale. Accusing EA of using these risky, toxic strategies is inaccurate. EA can have drawdowns of up to 30% (rarely happens) and create psychological pressure and negative emotional for you, you should understand and accept drawdown as part of trading. You can reduce the Auto Lot variable to reduce drawdown.
Om Mani Padme Hum is an Expert Advisor built with smart algorithms that can take profits from the market quickly and protect positions in the market and then exit with profits.
There are 7 settings available for 7 popular currency pairs: AUDUSD, AUDJPY, EURJPY, EURUSD, GBPJPY, GBPUSD, USDJPY
You can use 1 of these 7 settings with other currency pairs. Just change the "Select Settings for" parameter and change the different Magic Number.
You need the backtest to choose the right setup for other currency pairs.
I will provide more new settings in the following upgrades.
With highly volatile currency pairs such as GBPUSD, GBPJPY, you should reduce the Auto Lot parameter with these currency pairs to reduce risk.
You should also reduce the appropriate Auto Lot when using EA with multiple currency pairs.
Update: EA currently has the best performance for currency pairs: EURUSD, EURJPY, USDJPY. You should see other recommendations in the comments tab.
Select Settings for = select the right one for each currency pair (double click)
Max Spread = 10 to 20 Set higher avg. spread of each currency pair
Max Slippage = 3 to 5
Fixed Lot = 0.0 (Auto Lot, EA will calculate Lot Size according to Auto Lot parameter); Fixed Lot > 0 (your manual Lot Size)
Auto Lot = 1.0 to 3.0 (Auto Lot = 3.0 mean auto lot size = 3 lots per $ 100,000 balance, or 0.03 lots per $ 1,000 balance ...)
Magic Number = 1 to 999999999 (change different numbers for each pair)
Time frame: M5. Use VPS with low latency (<20ms).
Use EA with ECN or Raw spread accounts and allow hedging. Min Balance: $ 500
Stop Level = 0 (check the Stop Level by: Press Ctrl + U, select currency pair, click Properties and Stop Level on the 3rd line)
Do not use this EA with another EA on the same account. Do not make deposits or withdrawals while the EA has open positions.
Download history before backtest (Press F2, find currency pair, then Download). Backtest with model: Every tick.
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You can already use EA with all currency pairs.
You can use 6 available settings for other currency pairs.
You need to change the Magic Number differently for each pair.
Need backtest to choose the right setup.