Description
Morfeus EA V5.20: A Breakout-Based Trading Tool
Overview
The Morfeus EA V5.20 is a powerful trading robot designed specifically for the MetaTrader 4 (MT4) platform. It stands out due to its no DLL requirement, ensuring seamless integration without additional dependencies. Traders can leverage its advanced features to enhance their trading strategies and optimize performance.
Strategy
The Morfeus EA utilizes a breakout-based approach, generating market entry signals when the price crosses specific price range boundaries. Here are the key points about its strategy:
- Breakout Signals: The EA identifies potential breakouts by monitoring price movements. When the price breaches predefined boundaries, it triggers a trade signal.
- Historical Data: The strategy is built on historical data with 99.9% quality over the last 15 years. This robust backtesting ensures reliability and consistency.
- Signal Selection: The EA selects the best signals while filtering out false ones. It focuses on breakouts that show the most promising results.
- Risk Management: To protect the account from equity drawdown, the EA maintains a very small stop loss (SL) with minimal risk per trade.
Recommended Pair and Timeframe
- Pairs: EURUSD, USDJPY, GBPUSD
- Timeframes: H1 (1-hour chart) or M30 (30-minute chart)
Requirements and Recommendations
- PC Performance: Ensure that your PC processor is not overloaded with other programs or advisors. Smooth tick processing is essential for accurate trading.
- Account Configuration: Run the EA on one account per adviser. Leverage of 1:100 or higher is recommended. If using multiple advisors on the same account, ensure they have different Magic numbers.
- Broker Confirmation: Confirm with your broker that scalping strategies (holding positions for less than a minute) are allowed.
EA Parameters
- Magic: Identifier for trades.
- Order Comment: Comment for orders.
- Slippage: Allowable slippage before an order triggers.
- Max Spread: Maximum spread allowed before pending orders trigger.
- Fixed Lot: Fixed lot size (if not using risk management).
You can download the Morfeus EA V5.20 from our website: YoForex.
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