Expert Advisors and Indicators for MetaTrader 5

Here you will find many programs for the MetaTrader 5 trading platform, which save the trader from routine operations and help him concentrate only on the really important things

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MetaTrader 5

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Kingfisher S for MT5

kingfisher-s-for-mt5-logo-200x200-3603
150.00 USD106.50 USD

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Information

Experts
MetaTrader 5
Jannik Lehmkuhl
1.22
5

Overview

Overview

This expert advisor won't make you rich in a week, but it also won't make you poor the week after. Kingfisher S is designed for long-term stability and reliability in any market situation.

My goal with this expert was to create a strategy that works regardless of symbol and market situation, while also allowing for a high degree of customizability and control. Kingfisher S focuses less on convoluted and coincidental indicators or trading signals and more on sustainable trade management. The strategy is not fitted to any specific conditions or market behaviours, hence the lack of different set files. There is no point in optimizing for past markets when we want to play the future. Generality and robustness are key when facing the unforeseeable. Kingfisher S delivers just that: a trade system that allows you to engage any market with the same universal principles and enables you to design and employ flexible and reliable trade management strategies!

Write a review and send me a message to receive an exclusive unreleased EA for free!

The expert uses a general trend direction (this can be determined automatically by the expert, by an external indicator, or manually by you) and an advanced interpretation of the stochastic oscillator to find trade entries. Opened trades are monitored by many flexible takeprofit and stoploss options and, if necessary, the risk is managed through a smart averaging algorithm.

Deescalation of large baskets ensures the risk is always kept moderated and does not explode uncontrollably once a position starts losing.

Through its many settings the trading system can be customized to your liking. Every parameter is under your control, so you can create almost any trade management strategy you could imagine. However, the default settings have proven to work great with most trading instrument.

Why Kingfisher S is better than other averaging experts:

  • Trend direction is determined automatically, so you don't have to do anything (but you still can if you wish so!)
  • It opens new orders on signal response, that means instead of blindly averaging your position every so many points, averaging orders are only opened when a new trading signal appears
  • Position sizes are reduced through the intelligent deescalation system only found in Kingfisher
  • It uses a money takeprofit system, thus actually leveraging the benefit of increasing the order volume by requiring a smaller movement in the desired direction with every additional order
  • The flexible takeprofit and stoploss options allow you to react to all kinds of sudden price shifts without having to wait for your account to blow up
  • Takeprofits and stoplosses can be cast directly into the orders, ensuring immediate closure once the specified levels are reached, without delay


Recommendations

Enable the Use Limits for closing settings in live operation! This option casts the predicted price targets of your takeprofit and stoploss settings into the actual takeprofit and stoploss levels of the currently opened orders, ensuring that positions are closed, even if the system the expert is running on loses connection to the trade server, while also greatly increasing the speed with which positions are closed once the takeprofit or stoploss levels are reached. However, since the price prediction is based on the most recent tick value provided by your broker, it won't work correctly with historic data in backtests.

Use a trustworthy ECN broker with tight spreads, for my personal recommendation check out the link in my profile.

Minimum account balance for 0.01 lot should be $1000, the best balance between profit and risk can be achieved in the M15 timeframe, pairs that have proven to generate the best results so far are AUDCHF, EURUSD, NZDCAD, USDJPY, but in principle the expert works well with almost any symbol.


Instructions

A detailed manual on how to use the Kingfisher S expert advisor including explanations of all settings and parameters can be found here: https://www.mql5.com/en/blogs/post/746497

Please read this guide carefully!

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RISK WARNING: fx-market.pro is a software reseller, we do not offer investment advice or execute trades. The software we provide is a tool where the settings are input by the end user to design their own trading strategy. Trading forex and CFDs carry a high degree of risk to your capital and it is possible to lose your entire deposit. Only speculate with money you can afford to lose. As with any trading, you should not engage in it unless you understand the nature of the transaction you are entering, and the true extent of your exposure to the risk of loss. These products may not be suitable for all investors, therefore if you do not fully understand the risks involved, please seek independent advice.

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