Morfeus EA V5.20 MT4 NoDLL: A Breakout-Based Trading Tool
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 Overview
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
- Broker Selection:
- Choose a broker with low spreads and high-quality execution to ensure optimal performance.
- Consider using a Virtual Private Server (VPS) with minimal ping to your broker for faster execution.
- 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).
- Use Risk MM: If true, lot size increases as the account balance grows (risk management).
- Percentage Risk: Lot size increase based on balance value (risk management in %).
- Take Profit: Take profit in points.
- Stop Loss: Stop loss in points.
- Breakeven Target PipsInp: Breakeven triggers when the price is above this value.
- Breakeven Jump PipsInp: Stop loss moves to breakeven using this value.
- Trailing Stop: Trailing points when the position is in profit.
There are no reviews yet.