PropFirm-EA
Dark Knight EA MT4
Dark Knight EA MT4
Regular price
$399.00 USD
Regular price
Sale price
$399.00 USD
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Detailed Explanation of the Strategy and Options
This Expert Advisor (EA) for MetaTrader 4 is designed to automate trading decisions based on market conditions such as price movements, volatility, and technical indicators. It incorporates risk management options, trade execution settings, and advanced money management features. Below is a comprehensive description of the strategy and the key options available in this EA:
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In the backtest version, we have set the lot size to the smallest.
In the original version, you can change the lot size according to your account balance.
After receiving the backtest version, we have presented the backtest of 3 different brokers and you can download it.
You can see from several years ago to today in the backtest.
In the original version, you can change the lot size according to your account balance.
After receiving the backtest version, we have presented the backtest of 3 different brokers and you can download it.
You can see from several years ago to today in the backtest.
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Strategy Overview
The primary goal of this EA is to detect breakouts using technical indicators such as Moving Averages (MA), Bollinger Bands, and Envelopes. Based on the selected indicator, the EA identifies whether the current price is breaking above or below critical levels and opens a buy or sell trade accordingly.
1. Price Breakout Strategy
The EA uses various indicators to determine if the price is breaking through support or resistance levels. When the price breaks a key level (above resistance or below support), the EA opens a buy or sell trade accordingly. Indicators used include:
Moving Average (MA): Identifies trends based on average price movements over a specified period.
Bollinger Bands: Measures market volatility and identifies breakouts.
Envelopes: Defines price channels, entering or exiting trades based on price movement relative to these channels.
2. Risk and Money Management
The EA provides several risk and money management options:
Stop Loss (SL) and Take Profit (TP): You can define SL and TP levels, which are automatically applied to all trades when they open.
Trailing Stop: This feature locks in profits by moving the SL as the price moves in favor of the trade.
Slippage Control: Defines the maximum allowable price slippage during order execution, especially in volatile markets.
3. Lot Size Management
Automatic Lot Size Management (Money Management): When enabled, the EA calculates the lot size based on the risk percentage set by the user and the available equity in the account.
Manual Lot Size: Allows the user to set a fixed lot size if preferred.
Minimum and Maximum Lot Size (MinLots and MaxLots): These settings control the minimum and maximum allowable lot sizes, ensuring they stay within broker limits and risk tolerance.
4. Spread Control
Max Spread: The EA will only open trades if the spread is below the defined maximum limit. This helps prevent trades in high-spread conditions, which can negatively impact profitability.
5. ECN Mode
ECN Mode: For ECN accounts where Stop Loss and Take Profit cannot be sent together with an order, the EA will first open the trade and then modify the order to include SL and TP.
6. Volatility and Market Movements
Volatility Limit: You can define the maximum acceptable market volatility before the EA enters a trade. The EA can either calculate volatility dynamically based on spreads or use a fixed value.
Volatility Percentage: If enabled, the EA will only enter a trade if market volatility exceeds a specified percentage compared to previous movements.
Options and Settings
1. Reverse Trade
This option allows the EA to reverse trade logic. When enabled:
A breakout above resistance triggers a sell.
A breakout below support triggers a buy.
2. Trade Management Settings
StopLoss: Defines the SL level.
TakeProfit: Defines the TP level.
Slippage: Controls the maximum allowable slippage.
TrailingStart: Defines the point at which the trailing stop begins.
Commission: The broker's commission per lot.
OrderExpireSeconds: Specifies how long pending orders remain active before being canceled.
3. Indicator Settings
UseIndicatorSwitch: Allows the user to select between different indicators (MA, Bollinger Bands, Envelopes) for detecting breakouts.
Indicator Period: Defines the period for the indicator, i.e., the number of bars used in the calculation.
BBDeviation: Defines the deviation for the Bollinger Bands indicator.
Envelopes Deviation: Sets the deviation for the Envelopes indicator.
4. Order Execution Timing
MaxExecution: Defines the maximum time allowed for order execution.
MaxExecutionMinutes: Specifies the frequency of sending test orders to measure execution speed (in minutes).
5. Additional Configuration
Magic Number: Automatically generated if set below zero, or you can manually set it to uniquely identify trades opened by this EA.
OrderCmt: Adds a comment to each trade, which appears in the trade and account history.
Summary of Key Features
Breakout Detection: Uses multiple indicators to detect price breakouts and opens trades accordingly.
Risk Management: Advanced options for SL, TP, trailing stop, and money management to minimize risks.
ECN Compatibility: Specifically designed to handle brokers with ECN execution, where SL and TP need to be added separately after order placement.
Volatility Control: The EA ensures trades are opened only when volatility conditions meet your specified thresholds, reducing the risk of entering highly volatile markets.
Flexible Lot Size Management: Allows for automatic or manual lot size configuration, ensuring traders of all risk tolerances can use the EA effectively.
This EA is designed to provide traders with robust control over trade execution and risk, making it ideal for those looking to automate their trading while maintaining high levels of customization and flexibility. It is particularly well-suited for ECN accounts and volatile market conditions.
Product Category
Product Category
Computer software
Required System
Required System
Metatrader 4 and MT5
VPS
Download
Download
It will be sent to your email after purchase
Account Ballance?
Account Ballance?
Minimum : $500
Maximum : $ unlimited
Broker?
Broker?
Any broker that allows the use of bots
Prop Firm EA
We create expert advisors for Metatrader 4 that perform complex analysis of moving markets in seconds. We design all our tools to make trading as simple as possible to save you time collecting data from chart history.
By designing and building this tool for MetaTrader 4, we will help you overcome the challenges of prop companies.