Dark Knight MT4
This Expert Advisor (EA) for MetaTrader 4/5 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
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.
Monitoring
https://www.myfxbook.com/members/PropfirmEA/dark-knight-ea-mt5-propfirm/11492385
https://www.myfxbook.com/members/PropfirmEA/dark-knight-ea-propfirm-ea/11491689
https://www.myfxbook.com/members/PropfirmEA/50k-swing-ftmo-phase-2/11426035
https://www.myfxbook.com/members/PropfirmEA/1000-aggressive-propfirm-ea-com/11432783
Code:
https://propfirm-ea.com/products/dark-knight-ea-mt4