Trading Robots for MetaTrader 5
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MetaTrader 5
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Overview
Elitieum Expert Advisor
A sophisticated trading robot that combines Williams' Percent Range and Envelopes indicators to identify optimal entry and exit points in the market.
Key Features
- Entry Strategy: Uses Williams' Percent Range (24 period) with a -32.5 level for precise entry signals
- Exit Strategy: Implements Envelopes indicator (12 period, 0.76% deviation) for optimal exit timing
- Risk Management: Fully customizable Stop Loss and Take Profit levels
- Advanced Protection Features:
- Maximum spread control
- Daily loss limits
- Equity drawdown protection
- Position size limits
- Multiple position management
Trading Logic
Entry Rules
The EA enters trades based on the Williams' Percent Range (WPR) indicator:
- Buy Signal: When WPR crosses above -32.5 from below
- Sell Signal: When WPR crosses below -67.5 from above
Exit Rules
Positions are closed when the price crosses the Envelopes bands:
- Long positions: Close when price crosses upper band
- Short positions: Close when price crosses lower band
Risk Management Features
Trade Protection
- Customizable Stop Loss and Take Profit levels (in pips)
- Flexible lot size management
- Maximum spread filter to avoid trading in high-spread conditions
Account Protection
- Daily loss limit (in currency)
- Maximum daily drawdown percentage
- Minimum and maximum equity thresholds
- Maximum open positions limit
- Maximum total lot size control
News Filter
Built-in news filter with customizable settings:
- Filter by currency pairs
- Separate settings for high and medium impact news
- Adjustable time windows before and after news events
- Option to display upcoming news events
Additional Features
Session Management
- Fully configurable trading sessions
- Options for handling specific trading days
- Session close management
Performance Monitoring
- Real-time position tracking
- Detailed trading statistics
- Daily, weekly, and monthly performance metrics
- Visual display of key trading parameters
Installation Requirements
- Platform: MetaTrader 5
- Recommended timeframe: H1
- Recommended pairs: XAUUSD (Gold)
- Minimum deposit: Based on broker's requirements for XAUUSD trading
Package Includes
- Expert Advisor installation file
- Detailed user manual
- Optimization settings file
- Free updates and support
Recommended Settings
- Currency Pair: XAUUSD
- Timeframe: H1
- Initial Lot Size: 0.10
- Williams' Percent Range Period: 24
- Envelopes Period: 12
- Envelopes Deviation: 0.76%
Important Notes
- Past performance does not guarantee future results
- Demo testing is recommended before live trading
- Risk capital should be used for trading
- Results may vary depending on market conditions and broker conditions
For optimal results, it's recommended to run this EA on a stable VPS with reliable internet connection. Always start with demo trading to familiarize yourself with the EA's behavior and to verify its compatibility with your broker's trading conditions.
