Welcome to the World of Magna Rapax!
If you’re looking to snag some pips in the wild terrain of the Forex market, you might want to take a look at Magna Rapax—that’s Latin for the Great Hunter! This automated trading system is designed to work on any timeframe, although I’d recommend using it on timeframes longer than one minute for the best results.
After a lot of hard work, I’m excited to present my expert advisor (EA). It’s a bold attempt at discovering the elusive Holy Grail of Forex trading—a rare find that, if you manage to uncover it, can perform wonders. The Magna Rapax EA aims to be as close to this Holy Grail as possible, and the best part? It’s completely FREE!
This EA employs a mix of trend following, breakout strategies, and volatility filters to execute trades. If you feel like you need an additional edge, you can activate the optional Martingale system (just be cautious with this one). It’s advisable to set it at 4-5 levels, as going higher could risk blowing your account!
Lastly, a huge shoutout to the MQL4 community for their invaluable support in developing this EA!
Here’s a Peek Under the Hood:
- Start Lot Size: 0.01
- Take Profit (in pips): 99
- Stop Loss (in pips): 99
- Max Account Risk: 25%—this closes all losing trades if your Account Equity dips below your Account Balance by this percentage.
- Martingale System: Optional (set to false by default)
- Martingale Levels: 5
- Maximum Slippage: 3
- MACD Parameters: Fast MACD Period: 5, Slow MACD Period: 35, Signal Period: 5
- ATR Parameters: Slow Period: 24, Quick Period: 5
- ADX Period: 14, with a trigger limit of 50 for trade execution.
Check Out My Results:
Tips for Using Magna Rapax:
- I’ve uploaded my settings file, which showcases what you can achieve (I also utilized Martingale level 5).
- The EA is still a work in progress. If you discover a combination that yields a higher win rate or profit, or if you have ideas for new features, please reach out—I’d love to enhance the EA with your help!
- This is just the first edition. Your feedback from backtesting and trying out different settings will help me improve it and release updated versions.
- The EA includes a built-in function to close orders when opposing signals arise, which can help limit losses. Feel free to set tighter stop-loss or take-profit levels as needed.
Disclaimer: This expert advisor is intended for educational purposes only. It’s highly recommended to backtest it first or use it on demo accounts. If you decide to trade with it on real accounts, you do so at your own risk. I, as the author, cannot be held liable for any financial losses incurred while using this EA!
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