Trade Angel EA MT5 V1 For Build 4424+

Description

Description

Trade Angel EA MT5

Trade Angel Works in 3 time frames: 15M, 30M and 1 hour.

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).

– Trade Angel uses hard stop loss and take profit of 40 – 50 points. (Indices use points, not pips)

– Opens trades from Dax open (9am Frankfurt) until 8pm Frankfurt time.

– Maximum of 3 trades at any one time (1 per chart), no high amount of orders to monitor

– Dax40 is a very low cost instrument to trade with most brokers quoting 0.5 – 1.0 spread with small/no commissions.

– No holding onto long term losing trades

TradeAngel for MT5 is a fully automated,100% hands free trading system, expert advisor.

TradeAngel uses a recovery function on the  NEXT trade 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 not 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.

View backtesting under strategies section of our profile here:  myfxbook.com/members/AlnoTrade  (copy & paste link)

I do not advise to setup without pro help, I will explain why as there at least 3 things that can go majorly wrong.

1. TradeAngel 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 & Margin– Again, it can be very tricky, some brokers uses 1.0 lot as €1 per point, in other broker 1.0 can be €25 per point (1 Dax Futures contract). Also, Margin requirements can be very high for DAX in some brokers, check it out!