Trading Robots for MetaTrader 5
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MetaTrader 5
Top Rated Products MT5
Overview
EuroPips Pro is a sophisticated and reliable Expert Advisor (EA) designed to capitalize on trading opportunities in the forex market.
It is equipped with a comprehensive set of features and indicators to identify profitable trading signals and manage trades with precision and efficiency.
Key Features:
1. Currency Pair and Timeframe:
EuroPips Pro is specifically optimized for trading the EURUSD currency pair on the H1 timeframe, allowing it to focus on this market with a high level of precision and expertise.
2. Indicator-Based Strategy:
The EA utilizes the popular Heiken Ashi and Envelopes indicators, complemented by additional filtering indicators such as MACD, RSI, CCI, ADX, and Stochastic, to identify high-probability trading opportunities.
3. Risk Management:
EuroPips Pro integrates robust risk management tools to protect your trading capital and optimize your risk-reward ratio, ensuring prudent and controlled exposure to market fluctuations.
4. Order Placement:
The EA employs a strategic approach to order placement, including volume-based orders and a grid technique for secondary orders, providing flexibility and adaptability in various market conditions.
5. Advanced Trading Techniques:
EuroPips Pro implements a doubling strategy for subsequent orders, allowing it to capitalize on favorable market movements while mitigating potential risks.
6. Backtesting and Optimization:
The EA has been thoroughly backtested using historical market data to validate its performance and ensure its reliability in diverse market conditions. Additionally, it offers customizable parameters for further optimization based on your trading preferences.
Supported currency pairs: EURUSD
Most recommended timeframe: H1
Live Signal:
MT5 - https://www.mql5.com/en/signals/
MT4 EA Version: Click Here
Backtest
- Modelling quality: Every Tick
- Spread: Variable
- Time Period: 2014 – 2023.11
- Symbol: EURUSD
- Timeframe: H1
- Dynamic lot: Dynamically sets the lot size based on the current balance.
* Backtests should be done with Tick Data Suite GMT+2 with US DST. This GMT offset is used by most brokers
Setting EA:
Lot Size Method:
- Select Risk Setting: Enable the risk level True/False
- Risk: Select your risk level based on your trading preferences
- Select Percent Setting: Enable the % of Balance => Lots (This setting adjusts lot sizes based on your current balance. For example, with a $1000 balance and a setting of 100%, you will get a lot size of 0.01 lots when 1 lot equals $100,000)
Strategy Setting:
- ATR period: Set the period for the ATR used to calculate distances for the next order.
- ATR Multiply: Determine the multiple of ATR used to calculate distances for the next order.
- Envelops Period: Set the period for Envelops for reversal trading.
- MACD Fast: Set the period for the fast moving average in the MACD indicator.
- MACD Slow: Set the period for the slow moving average in the MACD indicator.
- MACD Signal: Set the period for the signal line in the MACD indicator.
- RSI Period: Set the period for the RSI (Relative Strength Index).
- CCI Period: Set the period for the CCI (Commodity Channel Index).
- ADX Period for open trades: Set the period for the ADX (Average Directional Index) for opening trades.
- Sto Percent K Line Period: Set the period for the %K line of the Stochastic indicator used for confirming trend reversals.
- Sto Percent D Line Period: Set the period for the %D line of the Stochastic indicator.
- Sto Slowing Value: Set the slowing value for the Stochastic indicator.
- Sto Price Field: Set the price field for the Stochastic indicator.
- ADX Period: Set the period for the ADX for trades beyond the initial trade.
- ADX Value: Set the maximum ADX level to avoid trades during strong trends.
- Take Profit for Initial Trade: Set the take profit level in pips for the initial trade.
- Take Profit for Pips as Position: Specify the average profit in pips desired when opening multiple orders (2-3 orders).
- 2nd Trade Multiplier: Specify the multiplier for the lot size of the second trade.
- 3rd Trade Multiplier: Determine the multiplier for the lot size of the 3rd trade and subsequent trades.
*** The only thing I recommend you adjust in this EA is to choose the lot size setting as you prefer.
Select True for your desired risk management setting: either Select_Risk_Setting, Select_Percent_Setting, or Select_Fix_initial_lot (choose only one to be True).
Once you've selected True, choose the risk level or input a numeric value under that option.
Risk Management
- Stop Loss: Enable this option if you want to set a stop loss to limit potential losses of all positions.
- Percent Stop Loss: Input the percentage of stop loss you want to limit the overall risk of the portfolio.
Recommend
- Currency Pairs: EURUSD
- Timeframe: H1
- Account Type: Any, with a minimum spread (preferably ECN/Raw)
- Leverage: 1:100 is recommended
- Start trading with a deposit of $1000 or 1000 US Cent to effectively implement the EA's strategy.
