Today I will try to describe all the strengths and weaknesses for Venzo EA as well as settings and installation guide!
The system uses a breakout of the support and resistance levels. This is already a proven strategy that shows excellent results for the last at least 3 years.
This is not a simple level break. VenzoEA constantly scans for market volatility and if the market is weak, it will temporarily pause trading to avoid a mean reversion.
As a rule, during the current turbulent times, the market is walking a lot and this allows us to get enough profit.
VenzoEA also has a number of high spread protections, which are also activated and manifest themselves during testing and optimization.
The algorithm adapts as much as possible to the conditions of the broker, for example, if the average spread is too large, the system is calibrated and orders can move a little further in real time so that the spread does not catch a pending order.
All this helps to avoid accidents in the market and of course is adjusted and optimized if necessary.
You can disable this adaptation to check your broker on real quotes and how he generally copes with it.
I recommend using real quotes with a quality of 99% or higher for testing.
The system constantly m
onitors and monitors the broker, news, GMT changes, gaps and interactions between currency pairs.
Therefore, I recommend using VPS 24/7. Personally, I have been using this VPS for more than 5 years (2Gb Windows 2012 R2) allows you to run up to 10 terminals at the same time!
The system automatically reads GMT and Market Strong News.
For this 2 URLs are used, which should be added to the MT5 settings.
You can also activate protection against strong news if you suddenly need it, but as a rule, strong news allows you to make good money
- GREEDY BROKER DEFENCE – protection from a greedy broker, allows you to adapt to any broker (disable if you believe in your broker)
- RISK % 0=FIXED – risk parameter, Risk=0 if you want to use a fixed risk
- YOUR COMMENTS FOR DEALS – comments on your deals
- VIRTUALIZATION – activates virtual trailing and profit tracking
- SPREAD DEFENCE – protection against a large spread
- DIVISION OF DEAL – activates the division of a pending order into parts, this allows you to reduce slippage
- DEALS DIVISION PARTS – number of parts for order division
- ONE DEAL PER HOUR – one trade per hour, determines the frequency of trades
- GAPS CHANNEL DEFENCE – protection against bad gaps in the market, allows you to skip market gaps if they are levels
- REAL-TIME CORRELATION – real-time channel correlation, depends on market volatility and spreads
- FIXED TAKE PROFIT – fixed maximum TP
- BUY STOPLOSS – fixed SL
- ENABLE [BUY] DEALS – allows you to activate deals in one direction only
- DEPTH RIGHT – settlement depth for BUY/SELL deals
- DEPTH LEFT – settlement depth for BUY/SELL deals
- ORDER SHIFT – order shift, required for finer tuning
- TRAILING START – start tracking profit
- TRAILING STOP – distance from price
- EXPIRATION – expiration time for each order
- VOLTIC FILTER – market volatility filter, restricts trading if the market is too calm
- PERIODIC – filter periodicity
- HOUR CALM TIME – amount of time for analysis
- MAX SPREAD – the maximum allowable spread on the market
- MAX SLIPPAGE – maximum slippage
- AUTO GMT – automatic calculation of GMT broker
- STOP CHRISTMAS DAYS – restricts trading before Christmas and after the New Year
- START/STOP MONDAY/FRIDAY – determines the start and end time of the system
- MANUAL GMT – manual setting of GMT, required for brokers with specific GMT
- USE NEWS FILTER – activates the news filter, not required (optional)
- VISUAL PANEL – visualization display
- FIXED LOT – fixed lot
- MAGIC – magic number (unique)
- MAX % DD DEFENCE – maximum drawdown protection
- BAD GAPS – list of gaps in the market
Image and article originally from www.mql5.com. Read the original article here.