Trading utilities for MetaTrader 5
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MetaTrader 5
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Overview
Chefs Arbitrage is the Professional EA that uses Bollinger band RSI and stochastic to determine price Action. I have implemented a lot of features and systems in this EA in order to improve its overall performance. MACD as optional filter to boost the 3 additional trading strategies in the Chefs Arbitrage which increase the total profit. The EA has optional features like Advanced Time Management system, Notification System, Friday Exit System, Advanced News Filter and i have added additional parameters for making Chefs Arbitrage more flexible.
WARNING: Contact me for optimum setfiles! Before using the Grid part of the EA, be aware of its risk , if you are not aware of the risks associated with this type of trading, then use other strategy available in the EA.
The grid pattern of Chefs Arbitrage is a very controversial topic in the trader’s community. The reason for this is the following - used properly with proper risk and settings, they can generate consistent gains relatively safe with performance incomparable with any other trading strategy. On the other hand in certain circumstances they fail dramatically. So you can make your choice on pattern and strategy to use, the Chefs Arbitrage EA gives a wide options of advantages. The key elements for the success of any grid and non grid based trading are the applied risk and the right entry and exit trading logic.
Chefs Arbitrage is designed to pick up the right moment for the initial market entry and for the following additional grid and non-Grid based recovery trades. Lots of features you can't find in other EA are present for quick recovery.
Using risk level equivalent on 0.01 lots on $10,000 account balance, or lower, is essential for long-term success with the Grid strategy !!!
Important notes
The minimum starting capital for Grid strategy is $5,000
The advised starting capital for Grid strategy is $10,000
The default settings can be classified as reasonably aggressive. Please, perform your own backtests and examine the way the EA works! If these settings are too aggressive for you, then you can try the conservative settings from here on the comment section
Recommended currencies:Eur/usd, Gbp/usd, Eur/chf, Usd/cad, Aud/cad, Usd/sgd, Cad/chf, Chf/jpy, Aud/chf, Usd/chf, Usd/jpy
Fast backtest : 1H Close Price.
If the Last trade is a loss while back testing ,it just mean that the trade was still opened but close at stop ,adjust the end time of the backtest to the opening date of the last trade and test again.
When using grid, do not close any trade ,whether in profit or in loss to allow a safe money management
Timeframe
The H1 timeframe is strongly recommended.
Currency
GBPUSD only recommended. The other major currencies can be traded with caution but It is advisable to perform back tests to determine if trading results and frequency is acceptable.
Risk management
The average take profit is around 1% of your account . more than one trade is opened until 1 % profit is reached then all open trades close. No martingale trading is used as part of risk management.
Please do not use this software on multiple currency at the time ,focus on one currency for less risk and more profit
The Expert uses a Position Sizing of 1 Lot per 10000 Unit
.
Recommended balance
The minimum recommended balance for the EA's use is $1000.
Parameters
- Magic number. This number is used by the EA to identify its trades from other trades. This is useful when you insist on placing multiple copies of the EA on multiple charts. In that case, please define a unique magic number for each chart.
Chefs Arbitrage features
Advanced News Filter
New, improved, highly effective trading logic
Email and Push Notification system
Advanced Time Management system
Close with dollars filter
optional martingale option
Global tp & sl
