Generic A-TLP EA V9.02 MT4 with Overview
An upgraded version of the well-known Generic TLP, the “Generic A-TLP EA V9.02 MT4” is a profitable night scalping Expert Advisor (EA) designed for MetaTrader 4. Let’s dive into the details:
Strategy:
- The EA employs a dynamic order grid strategy, building orders in both directions (buy and sell).
- It incorporates a martingale approach.
- The order network is constructed when the Bollinger Bands (BB) channel crosses, maintaining a sufficient minimum distance between orders. The distance calculation uses the MetaTrader 4 ATR (Average True Range) indicator.
Recommended Settings:
- Minimum Deposit: $1000 (This is the minimum amount you should have in your trading account to run the EA effectively.)
- Timeframes: M1 (1-minute chart) and H1 (1-hour chart).
- Supported Currency Pairs: XAUUSD (Gold/US Dollar) and USDJPY (US Dollar/Japanese Yen).
Key Features:
- Night scalping strategy optimized for specific timeframes.
- Grid-based order management.
- Martingale risk management.
- Utilizes Bollinger Bands and ATR for decision-making.
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