Forex The Enigma Expert Advisor review:
Forex Distance Breakout Robot is a Forex Robot that uses a set of calculated distances. One for Buy Long and another one for Sell Short, and automatically detects true price breakout based on that distances. It uses two sets of number of bars, Fast and Slow periods, to calculate and analyze the breakout.
This Expert Advisor can not run with any EAs in the same account. As part of the money management plan, it calculates and monitors the Margin Level % and assumes that all open trades are created by it.
Conservative But High Efficiency Settings
If you are the type that can’t handle multiple losses while waiting for the winning jackpot trades, you can set these two parameters. This may give you a very low drawdown in most cases. For the rest of the parameters, use the default settings.
- Bars To Check Slow – Set this to 250.
- Bars To Check Fast – Set this to 150.
- The EA is capable of detecting true breakout with an estimated 90% accuracy (more or less depending on the value of the fast and slow number of bars). So error is minimized in smallest possible level.
- High Frequency Trading – this EA is a proof that HFT is can be developed and implemented in a small system if thorough research, development, and test are done.
- Usually a breakout-scalping system like this has a problem with slippage and spread when run with a live account. Distance Breakout doesn’t have that issue.
- A scalping Expert Advisor that works best in H1.
- It takes advantage of the price movement both on ranging and trending price of the market.
- Accuracy is on the trade entry when there’s a price breakout.
- Uses two money management parameters only.
- Stop-loss is used. Tight Stop-Loss is used of at least 30 points or 3 pips. Can be chaged up to 50 points (5pips).
- Trail Stop is used. Once activated there’s a sure profit in pips based on the value of “Sure Profit on Trail Stop in Pips” parameter.
- Compare to the other Expert Advisors that I personally developed, this one is the safest and most profitable.
- Easy to set up.
- Symbols: For best result use EURUSD only.
- Timeframe: H1
- Leverage 1:500
- Fund deposit: At least $200 but $500 is recommended.
- Account type: True ECN only with less than 2 pips of spread.
- Account currency: USD.
- The EA should run 24/5. For stable server and internet, you need a VPS.
- You don’t need to change the parameter in most cases, but if you have to please be sure that you backtest it with at least 5-year of data with Modelling Quality of 90% or more.
- Money Management – This is used to divide the Account Balance then multiplies it to BaseLotsize. Use default.
- Base Lotsize – The lotsize multiplier after calculating the Money Management parameter. Use default.
- Trail Stop Loss in Points – This a trail stop to protect positive profit. Set zero to disable. Use default value.
- Trail Stop Sure Profit in Points – If trail stop is enabled. Use default.
- Min Margin Level % to Trade – if you use an aggressive MM/lotsizing and trading multi-pairs, set this to monitor the margin level % to avoid over trading. But it is recommended to use the default value.
- Stop Loss in Points – This is to protect the fund. Use default. Or can be chaged up to 50 points (5 pips). More than that is no longer work.
- Bars To Check Slow – Number of bars for the proprietary analysis. Use default.
- Bars To Check Fast – Number of bars for another proprietary analysis. Use default.
Copy and paste the file into the MQL4 Experts folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Experts (paste here)