The Viper EA MT4 V2.2 with Optimization Recovery Preset

The Viper EA for MT4: Precision Trading Redefined

Introduction:

Welcome to the pinnacle of automated trading with The Viper EA for MetaTrader 4 (MT4), a sophisticated expert advisor engineered to optimize your trading performance. Available on CheaperForex.com, The Viper EA leverages advanced mean reversion strategies during specific trading sessions, coupled with a robust recovery algorithm to ensure high success rates and minimal drawdowns.

This EA is designed to meet the needs of both novice and experienced traders, offering a seamless trading experience that maximizes profitability while minimizing risk.

Strategy Overview:

The Viper EA employs a sharp and effective mean reversion strategy during the ranging periods of the trading sessions, specifically between 23h and 1h GMT+2 (US DST). These trades inherently have a high success rate due to the precise timing and market conditions they target. However, in cases where the market turns against the initial position, The Viper EA activates its proprietary recovery mode. This sophisticated algorithm aims to convert unsuccessful first entries into profitable trades, ensuring that no position is left unmanaged. Developed using live results from previous EAs and optimized with 99.99% Tickdata on MT5, The Viper EA boasts a near-zero risk of over-optimization.

Trading Specifications:

Recommended Pair: The Viper EA supports a wide range of currency pairs including GBPCAD, GBPCHF, GBPAUD, CHFJPY, AUDCHF, EURCHF, EURUSD, CADCHF, GBPJPY, GBPUSD, AUDCAD, AUDUSD, EURJPY, USDCHF, AUDJPY, USDCAD, EURGBP, EURAUD, and EURCAD.

Timeframe: The recommended timeframe for The Viper EA is M15, which balances the frequency of trades with the depth of analysis, ensuring optimal performance.

Minimum Balance: A minimum balance of $150 is recommended for trading up to 4 pairs. For trading all 20 pairs, a balance of $500 or more is advised to ensure adequate risk management and capital allocation.

Key Features:

Mean Reversion Entries: The Viper EA utilizes mean reversion entries during the specified trading hours to exploit price corrections, leading to high-probability trades.

Trademark Recovery Mode: In the event of an adverse market movement, the EA’s recovery algorithm activates to convert losing trades into profitable ones, thus safeguarding your investments.

Multicurrency Support: This EA is versatile and supports trading on all major and minor currency pairs, providing extensive market coverage and diversified trading opportunities.

Optimized Settings: The EA comes pre-optimized with internal settings for each supported pair, eliminating the need for external set files and simplifying the setup process.

AutoGMT and News Filter Integration: For optimal performance, The Viper EA integrates AutoGMT and a news filter, requiring specific URLs to be added to the “allowed URLs” in the MT4/MT5 settings.

Robust Money Management: The EA automatically computes the lot size based on your risk appetite or maximum preferred drawdown, ensuring disciplined and controlled trading.

Setup Instructions:

1. Initial Setup:
   • Run The Viper EA on a EURUSD M15 chart.
   • Enable the OneChartSetup in the parameters and select the pairs you wish to trade.
   • Choose between fixed lot size (AutoLotMode = use StartLots) or automatic lot size based on balance/equity (AutoLotMode = use LotsizeStep).
2. Risk Management:
   • For trading all 20 pairs, use LotsizeStep=2000 with a minimum $2000 balance for low risk, LotsizeStep=1000 with a minimum $1000 balance for medium risk, and LotsizeStep=500 with a minimum $500 balance for high risk.
3. Custom Configuration:
   • Smaller accounts (minimum $150) can trade up to 4 low-risk pairs.
   • For customized risk management, backtest on MT5 to determine maximum drawdown and adjust LotsizeStep accordingly.
4. Backtesting:
   • Perform backtests on MT5 using real ticks with variable spreads for the most accurate simulation of live trading conditions.
   • Run the backtest on EURUSD M15, enabling the OneChartSetup, and configure lot size settings as desired.

Detailed Settings:

EA Settings:

• Adjust the infopanel, set trade comments, configure the magic number, enable OneChartSetup, and select trading pairs.

Trading Times:

• Configure trading start times for initial trades, ensuring optimal entry points.

First Trade Settings:

• Set maximum spread for first trades, choose between market orders or pending orders, and configure virtual TP settings.

Recovery Trades Settings:

• Use the default optimized settings or manually configure recovery trade parameters for custom optimization.

News Filter:

• Enable and adjust the news filter to avoid trading during high-impact news events.

Lotsize Settings:

• Select the lot size calculation method based on fixed lot size or balance/equity ratio.

GMT Settings:

• Use AutoGMT for automatic timezone adjustments or configure manually as needed.

Rollover Filter:

• Configure the rollover filter to prevent trading during rollover periods.

Final Verdict:

The Viper EA for MT4 is a cutting-edge automated trading tool designed to deliver consistent and reliable performance in the forex market. Its advanced mean reversion strategy, coupled with a robust recovery algorithm, ensures high success rates and minimal drawdowns. With comprehensive support for multiple currency pairs and optimized internal settings, The Viper EA simplifies the trading process while maximizing profitability. Available now on CheaperForex.com, this EA is an invaluable addition to any trader’s toolkit.

Invest in The Viper EA today and experience the power of automated trading with precision and confidence. Whether you’re a novice trader or a seasoned professional, The Viper EA is designed to enhance your trading strategy and deliver consistent results. Don’t miss out on this opportunity to elevate your trading performance with The Viper EA.

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Disclaimer: The Viper EA is a trading tool, and all trading involves risk. Please conduct thorough analysis and consider your risk tolerance before making any trading decisions.