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DARK ALGO EA MT4 – Full Input Settings Analysis
Dark Algo EA is a fully automated MetaTrader 4 EURUSD pair scalping Expert Advisor. Dark Algo EA utilizes the new generation trend detection and trend-following algorithms of the market. Dark Algo EA is very flexible to be fine-tuned according to various trading needs, offering a sophisticated solution for scalping with sophisticated trend-following capabilities.
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RISK MANAGEMENT & RECOVERY
- Allow Buy/Sell Orders: true
Both sell and buy orders can be opened by the EA. - Max Open Orders: 100
The EA can open 100 trades simultaneously. - One Order Per Candle: true
The EA opens a single trade per candlestick. - Hedging Mode: false
Hedging is disabled. The EA will not open a sell and buy trade together. - Magic Number: 501031
Magic number for trades of this EA. - Max Spread: 80 (i.e., 8 pips)
Trading only allowed if spread is below this. - Base Lot Size: 0.01
Default base lot size for each trade. - Auto Lot Management: true
Lot size will be calculated automatically based on account balance and risk. - Risk Factor: 5.0
Determines how aggressively lot size is calculated if auto mode is enabled.
TECHNICAL INDICATORS & TRADING FILTERS
- Stochastic is enabled in the 1-hour chart with %K set at 9, %D at 15, and Slowing at 1. The strategy uses crossovers at levels 20 and 80 to create entries whenever there is overbought or oversold.
- ADX is also enabled with a period of 9. It only enables trades when ADX’s value is below 50, i.e., when there is a weak or ranging market.
- CCI (Commodity Channel Index) is enabled with a period of 9 on the 1-hour chart. It uses a threshold of 100 and is calculated on the typical price. This filters trades on the basis of momentum and overbought/oversold levels.
- Moving Average (MA) is applied on the 1-hour chart with a 200-period simple moving average based on the close price. A deviation of 0.005 is utilized by the EA for calculating price distance from the MA.
PROFIT TARGET and ORDER CLOSE
- Take Profit is 200 points, which is the same as 20 pips.
- Stop Loss is 1000 points, or 100 pips.
- A currency-based Stop Loss of 1000 units is activated. That is, the EA will exit the trade when the lost money equals 1000 units.
- The EA is configured so it exits trades only at the end of a candle, so the decision will be made based on established price action.
- Martingale is switched off because the multiplier is set to 1.0, no lot size increase after loss.
- The grid order spacing is set at 400 points.
- The dashboard, control buttons, and notifications are shown or not shown depending on user settings, which are defined as true or false.
Key Takeaways
- Advanced Scalping Algorithm: Dark Algo EA is a completely automated Expert Advisor for scalping the EURUSD currency pair. It possesses a highly flexible and sophisticated algorithm that adapts to the changing market conditions, offering efficient scalping.
- Flexible and Timeframe Adaptable: Although EURUSD is optimized, the EA is sufficiently flexible to trade with other currency pairs. The EA trades at the H1 timeframe but is adapting to other trading strategies.
- Optimum Performance Conditions: Dark Algo EA must be utilized with an ECN broker and a VPS to perform optimally. Leverage of 1:20 and minimum $1000 deposit will be perfect.