Forex Ilanis Expert Advisor

Forex Ilanis Expert Advisor review:

Ilanis is and Expert Advisor for stock trading, it can be used for trading on Forex and other markets, including commodities, metals and index markets.

To determine the market entry, the EA uses the modern and ultra-light adaptive indicator FourAverage.

Principle of position maintaining is similar to that of the popular Forex robot Ilan, using averaging. But unlike Ilan, Ilanis uses an accurate entry into the market. The robot pays a lot of attention to position control, if the price goes in the expected direction. This is done by increasing the lot based on Martingale (ExpLot coefficient can be set in the settings, usually from 1.1 to 1.8).

Trading is based on the idea that 80% of time the market is moving in a flat. Long trends can be dangerous for the Expert Advisor, but they are rare. Some extraordinary events, like war, economic collapse, etc., can cause such trends. Information about these events can be found on news sites. It is advisable to turn off the EA in such cases. If this fails, through a flexible system of money management the robot is able in most cases to bring the combined position (even those open against the trend) to profit, the amount of which may considerably exceed the initially planned one. Although risks are higher in this case.

The main rule when working with Ilanis: do not be greedy, do not increase the lot, use the settings obtained after a proper optimization. Do not forget to optimize parameters for the current market from time to time.

The Expert Advisor is configured to work on EURUSD, M15

Ilanis Expert Advisor

  • Works with all dealing centers that use the MetaTrader 4 trading platform.
  • Works with both “Instant Execution” and “Market Execution” brokers.
  • Automatically determines the number of digits in quotes and works with quotes that have any number of decimal places.
  • Resistant to a temporary loss of connection or a short-term computer shutdown. After starting the computer, the Expert Advisor will pick up its orders and continue trading steadily.
  • Always works only with its own orders even if you have decided to trade manually in parallel.

Test results:

Forex Ilanis Expert Advisor

Parameters:

  • Sets – override settings in —=BUY SETTING=— and —=SELL SETTING=— with the built-in presets.

—=BUY SETTING=—

  • BUY – Enables BUY.
  • PeriodFA1 – Calculation period of the FourAverage indicator (1-200).
  • Average1_1 – The first level of adaptive smoothing, a value of 0-300.

—=SELL SETTING=—

  • SELL – Enables SELL.
  • PeriodFA2 – Calculation period of the FourAverage indicator (1-200).
  • Average2_1 – The first level of adaptive smoothing, a value of 0-300.

—=MONEY MANAGEMENT SETTING =—

  • StLot – lot size of the first order. If the value is negative, it is used as a fixed lot (Example: Lot = -0.01 the trade will be opened with the size of 0.01 lot). If the value is positive, specify the volume per 1000 units of the deposit (Example: Lot = 0.04, deposit is $2000, the trade will be opened with the volume of 0.08 lot).
  • ExpLot – lot multiplier for the subsequent orders in a series.
  • MinProfit – the minimum profit for closing the series. In the deposit currency per 1 lot of the initial volume.
  • StopLoss and TakeProfit – Positive values: In points of the first order in a series. Negative vaalues: In deposit currency per 1 lot of the first order in a series.

——–=FILTER=——–

  • BlockOpenOldPrice – disable opening at a price better than the previous trade.
  • StopIlanis – disable opening new series, the current series will be continued.
  • NotWorkingHours – hours when trading is disabled. For example: “0, 1, 2, 3, 22, 23”.
  • NotWorkingDayWeek – set week days when trading is disabled. For example, “1, 5” means that trading is disabled on Monday and Friday.

—=ORDERS SETTING=—

  • MaxSpread – if the current spread is greater than this value, the trade will not be opened.
  • Slippage – acceptable slippage.
  • MagicNumber_ – beginning of the range of magic numbers occupied by the Expert Advisor. The EA occupies 50 numbers.

Download our other Free Forex Robots For Metatrader 4

Installation

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)

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