Magenta

Pullback EA for forex trading. It tracks currency-specific intraday price actions, and depending on the nature of these actions opens trades with an expectation to return to initial price levels.

Signal: https://www.mql5.com/en/signals/2196368 - send a private message to request set file.

Quick start

- Launch the bot on M15 EURUSD.

- Set unique magic.

- Make sure time zone settings are correct. Defaults are valid for most brokers.

- Set max allowed number of same time trades, set lot size.

- The rest of the settings can be left at their defaults, the EA is ready to trade.

Features

- Trading on a calm market, any account type, any broker.

- Deposit of 500-800 usd.

- Each trade is protected with stop loss.

- Risk settings are flexible and may be customized for either potentially high profits or fast recovery.

- The EA is optimized to trade any forex pair - set it and forget, no need to change settings for each instrument.

- Advanced optimization is allowed for dynamic stops, targets, time and frequency of trades.

Settings

"Multiple same time trades": same side trades will be opened one by one. User may change max trades, lot sizing, min time and distance between trades. "Single trade, dynamic volume": only single trade at a time is allowed, user defines initial and max possible volume of that trade.

"Multiple same time trades" is potentially more profitable, while "Single trade" would recover faster.

The EA does not hold buys and sells at the same time in "Multiple same time trades" mode. It will open buy only if there are no open sells, otherwise it will close one of sells, and vice versa. This approach saves swaps, while list of trades at certain point of time will depend on date of EA launch on live chart or starting date of backtest.

For "Single trade" make sure that trade history is available (Account history >> Right mouse click >> Custom Period).

"Dynamic SL width multiplier" increases precalculated stop-loss, "Risk to reward ratio" is take-profit to stop-loss ratio. Stop-loss is set to a level not less than "Min SL" and not more than "Max SL". The logics is same for ""Min TP", ""Max TP" options.

"Trade frequency": the higher the value, the more trades will be opened within the timeslot. "1" is default, "0" - no trades.

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Neither tester nor live performance in the past guarantees future returns. Live risk settings should not be based on backtests. Low risk trading is potentially more profitable in a long-term perspective. EA default risk settings are fairly low and should not be increased too much.

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Send a private message for any questions on EA work, installation and settings.