Trading Robots for MetaTrader 5
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Overview
Dow Jones US30 NY Scalper is an EA designed for scalping during the New York markets open. This means that the EA will only place a maximum of 0-2 trades per day.
With that being said, the EA does not utilize any grid, martingale, or topping-up strategies. Each trade has a strict Stop Loss and Take Profit in place.
As shown in the backtesting results, there will be losing days or weeks, but the EA manages to recover and generate profits over time.
The extent of the drawdown depends on your chosen risk level but its DD should be below 10% if you use 0.5% per trade!
It is essential to have a low spread account and a VPS with minimal latency.
The EA has undergone extensive testing exclusively on the ICMarkets, VantageFX and FushionMarkets brokers, as time constraints prevented testing on all other brokers. However ICMarkets is highly recommended.
MT4 Version: https://www.mql5.com/en/market/product/106997
Before going live, we recommend testing the EA on a demo account for at least 2-3 months.
The EA is fully compatible with other EAs and can run simultaneously as long as you use different magic numbers.
The EA is meticulously fine-tuned and fully optimized, leaving no room for further adjustments. Its parameters have been rigorously tested to ensure peak performance and profitability, making it unnecessary to conduct any additional optimizations.
The EA performs admirably during news events, but you have the option to enable a news filter to further refine its performance as you see fit.
Note: If you are searching for the Holy Grail or an EA to double your account overnight, this is definitely not for you!
Recommendations:
- Currency pair: US30
- Timeframe: Any timeframe
- Minimum deposit : $1000
- Account type: Raw with very low spreads.
- Brokers : IC Markets
- IMPORTANT: It is very impoportant to use LOW SPREAD accounts for best results !
- Account type: Hedge
EA Inputs:
- Magic Number: The EA's unique identifier.
- Risk Percentage per Trade: This parameter is self-explanatory. It determines the risk percentage per trade.
- Broker Server GMT: Set the GMT time according to your broker's server (!!!important!!!)
- Enable Trailing (MUST BE ENABLED): The EA requires trailing to ensure profitability in the long run. Be sure to enable this feature.
- Don't Trade on News Releases: If set to true, the EA will refrain from trading during NY open if there are news releases.
- Load News (for Backtesting): This option allows you to conduct backtesting both with and without a news filter (see more details below).
To use the news filter in the backtesting, follow these steps:
- Begin by dragging and dropping the EA onto the US30 chart.
- Check the "Expert" tab for a message that confirms "News list loaded!"
- Once you receive this message, you can proceed to enable the news filter and commence the backtesting.
- Without receiving the "News list loaded!" confirmation, the backtesting filter will not perform as expected and basically will ignore the news filter!
