Description
Description
Trade Angel EA MT5
Trade Angel Works in 3 time frames:ย 15M, 30M and 1 hour.
Pick your broker well. Useย Dax40 Spot/Cash CFDย instrument.
Suggest major broker:ย Pepperstoneย /ย Vantagefxย / IC/ FP / Blaze (good offshore broker)
Operates by monitoring the movement & volatility of the DAX40 during market hours only, once it detects a strong move it will latch onto the momentum and open a trade at the start of the next bar, (on the 15 min bar on 15 min chart, start of 30 min bar on 30M chart and same for 1 hour).
โ Trade Angel uses hard stop loss and take profit of 40 โ 50 points. (Indices use points, not pips)
โ Opens trades from Dax open (9am Frankfurt) until 8pm Frankfurt time.
โ Maximum of 3 trades at any one time (1 per chart), no high amount of orders to monitor
โ Dax40 is a very low cost instrument to trade with most brokers quoting 0.5 โ 1.0 spread with small/no commissions.
โ No holding onto long term losing trades
TradeAngelย for MT5 is a fully automated,100% hands free trading system, expert advisor.
TradeAngelย uses aย recovery functionย on theย ย NEXT tradeย that will increase the trade size x2 after loss for 5 levels max, however user has option to disable this feature by setting the input increaselotafterloss = false.
You are notย BOUND to use recovery function, we prefer to as it does what it says, it recovers the prior loss trade quicker, smoothing the equity curve.
Using a recovery factor after loss is very different to martingale. Do not get the 2 confused and this table compares the huge differences.
Backtesting and Risk/Lot Sizing
View backtesting under strategies section of our profile here:ย ย myfxbook.com/members/AlnoTradeย (copy & paste link)
I do not advise to setup without pro help, I will explain why as thereย at least 3 things that can go majorly wrong.
1. TradeAngelย uses trading window from 9am Frankfurt time to 8pm, this is preset in settings as GMT+3 broker (1000 to 2100). If your broker is not GMT+3, it will run in wrong times and you need to adjust accordingly.
2. Unlike Forex, brokers quote DAX totally different in price, some use 5 digits i.e 14500, some use 6 , i.e 14500.4, some like IC use 7, 14500.50. So the Take profit and stop loss needs adjusted to suit. In IC the stop loss would be 5000 as they have 2 decimal places, in a 1 decimal place broker it would be 500 and so on.
3. Lot sizes & Marginโ Again, it can be very tricky, some brokers uses 1.0 lot as โฌ1 per point, in other broker 1.0 can be โฌ25 per point (1 Dax Futures contract). Also, Margin requirements can be very high for DAX in some brokers, check it out!
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