EA BLACK LION // GUIDE FOR NEW OWNERS
STRATEGY BEHIND EA BLACK LION
- EA BLACK LION is an expert advisor designed to spot real divergence movements in the forex market. It is highly sophisticated because it can spot potential reversal or continuation.
- The real-time divergence patterns are visually shown to you on your MT4 chart. (This is game changing because you actually see the strategy infront of you)
- It uses a sophisticated grid system. Each new trade is calculated with a complex algorithm to always try and keep the drawdown low.
- It’s a fast scalper robot that places a lot of trades per day.
- It uses a news filter system where it avoids entering any trades during high impact news. This is to avoid un-necessary drawdown.
- It has the flexibility to trade several forex pairs to provide diversification to your account portfolio.
- A minimum leverage of 1:500.
- A minimum deposit of $1,000 (If you don’t have this starting amount, you can contact us and we will give you the link of a regulated broker where you can trade with a CENT account).
- An ECN account is recommended where you can have tight spreads.
- Timeframe: M5
- Settings: Default settings
- Recommended Major Forex Pairs: USDCAD, AUDUSD & GBPCAD
- Extra Pairs: EURUSD & AUDCAD (Extra pairs means that they can be added after the recommended ones if you have the required balance)
- Balance: $1,000 for 1 forex pair. $5,000 for all 5 forex pairs for optimal diversification. Each pair requires a $1,000 balance.
- News Filter:👉 To add news filter: Go to Tools, then Options then Expert Advisors. Click on Allow WebRequest for listed URL’s: https://ec.forexprostools.com — Click Ok.
MONEY MANAGEMENT FOR 1 FOREX PAIR
- $1,000 = 0.01 lot
- $2,000 = 0.02 lot
- $3,000 = 0.03 lot
- $4,000 = 0.04 lot
- $5,000 = 0.05 lot
- $6,000 = 0.06 lot
- $7,000 = 0.07 lot
- $8,000 = 0.08 lot
- $9,000 = 0.09 lot
- $10,000 = 0.10 lot
For your money management with more than 1 forex pair, you respect the same lot size:
If you plan on using 2 forex pairs, you multiply the balance above by 2.
If you plan on using 3 forex pairs, you multiply the balance above by 3.
If you plan on using 4 forex pairs, you multiply the balance above by 4.
If you plan on using 5 forex pairs, you multiply the balance above by 5.
Ex. with 2 forex pairs: $2,000 = 0.01 lot // $4,000 = 0.02 lot // $6,000 = 0.03 lot // $8,000 = 0.04 lot // $10,000 = 0.05 lot
Ex. with 3 forex pairs: $3,000 = 0.01 lot // $6,000 = 0.02 lot // $9,000 = 0.03 lot // $12,000 = 0.04 lot // $15,000 = 0.05 lot
If you’re not sure what will be your lot size with your balance, please feel free to send us a private message!
HOW TO CHANGE LOT SIZE & TAKE PROFIT?
In your BLACK LION settings, the default settings are:
If you have a higher balance, you need to change these 2 settings based on the money management recommendations above.
0.01 Lot = 0.59 ($)
0.02 Lot = 1.18 ($)
0.03 Lot = 1.77 ($)
0.04 Lot = 2.36 ($)
0.05 Lot = 2.95 ($)
0.06 Lot = 3.54 ($)
0.07 Lot = 4.13 ($)
If you’re using a higher lot than 0.07 on your balance, please contact us to get the specific take profit number.
PARAMETERS EXPLANATION
– Show Panel (Turn Off For Faster Backtest) // Set to true by default. You can turn it off if you’re backtesting the robot for faster results.
– Lot Size // By default, the lot size is 0.01
– Take Profit (Always Keep It Visible) // By default, it’s set to Hidden because of market validation purposes. However, please always set it to Visible.
– Take Profit in ($) // By default, the take profit is $0.59 dollar. This means the EA will close the trade when $0.59 is achieved on each forex pair.
– Max Spread (0=Disable) // By default, the max spread is 100. If you select a tight spread, the EA will not enter the trade if it’s higher than your selected amount.
– Allow Hedge (If your broker supports hedge, turn it on) // By default, hedge is turned off. Hedge means that the EA can open 1 buy and 1 sell order of the same forex pair. If you want more profits per day, you can turn this feature on. However, please note that you will have bigger exposure to the market so the risk can be higher.
– Max Lot Size // By default, it’s set to 0. Since BLACK LION uses soft grid, you can select the max lot size you want the EA to trade. It will not exceed the amount you input.
– Trade On Holidays // By default, it’s set to true. If you don’t want the EA to place trades during the Christmas year period and the New Year, you can set this to false.
– Magic Number // By default, it’s set to 1. Each forex pair chart must have a different magic number. Example: AUDUSD (Magic Number: 1), USDCAD (Magic Number: 2), GBPCAD (Magic Number: 3)
– Manual Intervention // By default, it’s set to false. If you want to manually close some series, you can set it to true. However, it’s not recommended to do any manual intervention. Please let the EA do all the work.
– Wait For Candle Confirmation // By default, it’s set to true. Please always leave it to true.
– News Filter Settings (On By Default) // By default, news filter is set to true. This means the EA will not place trades on high impact news.
– UseNewsFilter // It’s set to true by default.
– Use High Impact // It’s set to true by default. This means the EA will not trade during high impact news.
– HighPause Before // How many minutes do you want the EA to pause before the high news impact? We like to set it to 60 minutes. You can change it to higher or lower.
– HighPause After // How many minutes do you want the EA to pause after the high news impact? We like to set it to 30 minutes. You can change it to higher or lower.
– NewsCurrency // What currency do you target? If you’re using EURUSD, you must separate it like this: EUR,USD — USDCAD, it will be like this: USD,CAD — AUDNZD, it will be like this: AUD,NZD
– Account Protection // This is the protection of your balance when trading
– Take Profit In Percentage // If you set it per example to 1%, this means that the EA will close all trades when your account equity goes +1%.
– Max DrawDown In Percentage // If you set it to per example 15%, this means that the EA will close all the active trades when your account equity is -15%.
منبع: https://www.mql5.com/en/blogs/post/756632
