EuroPips Pro MT4 V1.1

Supported currency pairs: EURUSD

Most recommended timeframe: H1

Live Signal: 

MT4 – https://www.mql5.com/en/signals/

MT5 – https://www.mql5.com/en/signals/

MT5 EA Version: Click Here

Backtest

• Modelling quality: Every Tick
• Spread: Variable
• Time Period: 2014 – 2023.11
• Symbol: EURUSD
• Timeframe: H1
• Dynamic lot: Dynamically sets the lot size based on the current balance.

* Backtests should be done with Tick Data Suite GMT+2 with US DST. This GMT offset is used by most brokers

Setting EA:

Lot Size Method:

• Select Risk Setting: Enable the risk level True/False
• Risk: Select your risk level based on your trading preferences
• Select Percent Setting: Enable the % of Balance => Lots (This setting adjusts lot sizes based on your current balance. For example, with a $1000 balance and a setting of 100%, you will get a lot size of 0.01 lots when 1 lot equals $100,000)

Strategy Setting:

• ATR period: Set the period for the ATR used to calculate distances for the next order.
• ATR Multiply: Determine the multiple of ATR used to calculate distances for the next order.
• Envelops Period: Set the period for Envelops for reversal trading.
• MACD Fast: Set the period for the fast moving average in the MACD indicator.
• MACD Slow: Set the period for the slow moving average in the MACD indicator.
• MACD Signal: Set the period for the signal line in the MACD indicator.
• RSI Period: Set the period for the RSI (Relative Strength Index).
• CCI Period: Set the period for the CCI (Commodity Channel Index).
• ADX Period for open trades: Set the period for the ADX (Average Directional Index) for opening trades.
• Sto Percent K Line Period: Set the period for the %K line of the Stochastic indicator used for confirming trend reversals.
• Sto Percent D Line Period: Set the period for the %D line of the Stochastic indicator.
• Sto Slowing Value: Set the slowing value for the Stochastic indicator.
• Sto Price Field: Set the price field for the Stochastic indicator.
• ADX Period: Set the period for the ADX for trades beyond the initial trade.
• ADX Value: Set the maximum ADX level to avoid trades during strong trends.
• Take Profit for Initial Trade: Set the take profit level in pips for the initial trade.
• Take Profit for Pips as Position: Specify the average profit in pips desired when opening multiple orders (2-3 orders).
• 2nd Trade Multiplier: Specify the multiplier for the lot size of the second trade.
• 3rd Trade Multiplier: Determine the multiplier for the lot size of the 3rd trade and subsequent trades.

*** The only thing I recommend you adjust in this EA is to choose the lot size setting as you prefer.

Select True for your desired risk management setting: either Select_Risk_Setting, Select_Percent_Setting, or Select_Fix_initial_lot (choose only one to be True).

Once you’ve selected True, choose the risk level or input a numeric value under that option.

Risk Management

• Stop Loss: Enable this option if you want to set a stop loss to limit potential losses of all positions.
• Percent Stop Loss: Input the percentage of stop loss you want to limit the overall risk of the portfolio.

Recommend

• Currency Pairs: EURUSD
• Timeframe: H1
• Account Type: Any, with a minimum spread (preferably ECN/Raw)
• Leverage: 1:100 is recommended
• Start trading with a deposit of $1000 or 1000 US Cent to effectively implement the EA’s strategy.