Forex EA Morpheus MT5 Robot review:
About The Forex EA Morpheus MT5 Robot
Breakout based strategy, generates market entry signals when the price crosses a border of a certain price range.
To create the strategy, we have used the history data with 99,9% quality for the last 15 years. The best signals had been selected and the false signals have been filtered out. The Expert Advisor performs technical analysis and considers only the breakouts that show the best result.
It uses a system of filtering false signals.
The EA uses adaptive trailing stop.
The EA uses a very small SL so the account is always protected from equity drawdown with a very low risk-per-trade.
Recommended currency pair/timeframe: EURUSD M30.
Attention! This EA is only for “hedging” accounts.
Requirements and Recommendations
Low spreads and high quality execution are important when choosing a broker.
We recommend using a VPS with minimal ping to your broker.
Leverage of 1: 100 or more is recommended.
Magic — Identifier for trades.
Order Comment— Comment to order.
Slippage — Allowable slippage before an order triggers.
Max Spread — Maximum Spread allowed before pending order triggers.
ticks average spread — collect average spread ticks.
ticks for deleting pending orders — collect average spread ticks for deleting pending orders when the average spread exceeds Max_Spread.
Order Type — select trade direction.
disable trade if spread high — disable trading for a certain time (from 5 minutes to 24 hours), if the spread exceeds Max_Spread.
Fixed_Lot — Fixed lot (if Use_Risk_MM – false).
Use_Risk_MM — If this is true, the lot size will increase when account balance grows (Risk Management).
Percentage_Risk — Lot size increase based on the balance value (Risk Management in %).
Take_Profit — Take profit in points.
Stop_Loss — Stop loss in points.
Breakeven_Target_PipsInp — When price is above this value, breakeven triggers. (-1 = off).
Breakeven_Jump_PipsInp — Stop Loss is moved using this value to breakeven.
Trailing_Stop — Trailing points when position is in profit. (-1 = off, 0 = Stop_Loss ).
Trailing_Step — Trailing step when the position is in profit.
Risk_Protection_on_slippages — If true, the EA also applies position closure in case of a slippage.
Adaptive_Trailing_to_slippages — If true – adaptive trailing stop.
Change_correction_coefficient — Trailing sensitivity coefficient.
Adaptive_by_Time — Algorithm of adaptive trailing by time.
Time_Scale — time interval for price analysis.
Intraday trading by time:
Use time — If true trading will be performed by time.
GMT_mode — GMT offset of the broker server time; (0 – not used).
Every_Day_Start — Operation start time (hh:mm).
Every_Day_End — Operation end time (hh:mm).
Operation end time on Friday:
Use time — If true, trades at a certain time.
Disable_in_Friday — Operation end time on Friday (hh:mm).
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)