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ONGOGO EA MT4 – Full Input Settings Analysis
ONGOGO EA is a professional Tick Scalping Expert Advisor, specifically programmed for trading with tick charts and fine-tuned to work efficiently on trading the US30 index in the volatile New York session. Its core concept lies in quickly opening and closing the trades within just seconds, strategically taking advantage of the number of trading opportunities during the course of the day. It is optimized for MetaTrader 4 and has gained widespread acceptance among proprietary trading firms which implement High-Frequency Trading (HFT) strategies.
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General & Time Settings
- Magic Number: 12345
→ Private identifier for the EA trades, easy to distinguish them from the rest of the EAs trading on the same account. - Slippage: 1 point
→ Very strict slippage tolerance (equivalent to 0.1 pip). This setting can lead to missed trades at highly volatile market times. - Trading Time
- Start Hour: 16 (4:00 PM)
- Stop Hour: 22 (10:00 PM)
→ The EA will only trade within this 6-hour window every day.
- Adjustments of OD: 60
→ Presumably refers to an user-defined parameter for order delay or spacing of trades. Not standard MT4 terminology.
Money Management Settings
- Fixed Lots (0.0 = MM): 0.01
→ EA will trade with a fixed lot size of 0.01 lots instead of dynamic money management according to account balance. - Risk Management ON/OFF: Value not shown
→ This is a risky environment. Whether or not the fixed lot size is effective or ignored is based on whether risk management is enabled.
Order Execution Settings
- RP (Recovery Percentage?): 0.5
→ Likely a recovery factor or trade multiplier, commonly used in grid or martingale strategies. - Order Spacing: 5.0 points (0.5 pip)
→ Very tight order spacing, indicating a grid-type trading strategy. - Distance: 7.0
→ Possibly another pip-based order spacing setting or risk control parameter. Exact function may be relative to the EA’s internal logic. - Stop Loss Size: 10.0
→ Equivalent to just 1.0 pip. It is extremely tiny and can be a virtual or nominal stop loss, which can be dangerous unless paired with proper controls. - TR: 4.0
→ Not clearly defined. It could be a trailing stop interval, trade retry limit, or a custom parameter specific to this EA. - Max Spread Limit: 5555 points (555.5 pips)
→ Very high spread tolerance, effectively disabling spread filtering. The EA will trade under any market conditions, at any spread.