Manhattan PRO EA – [Cost $250]- For FREE Manhattan PRO EA – [Cost $250]- For FREE

For those who are not familiar with the advisor, first we will understand the basic algorithms and principles of the Manhattan PRO EA Advisor, and then we will see what opportunities the new version offers. This Martingale Expert Advisor is also available. "Advisor "Manhattan PRO EA" at first glance is a typical example of "network" work using the Martingale principle. This is neither good nor bad, but it is important to know. This principle increases the risk many times, but also increases profitability. Let's see if everything in Manhattan PRO EA is so "typical"

How it works – trading system

Many newbies, but to be honest, there are also many professionals who think they are scared off by Martingale because this principle is considered the basis of the trading system. You need to understand that the Martingale Principle is not a trading system, but a money management system, that is, a lot management system. More on this below, but first about trading systems.

What is a trading system?

• These are the rules and systems by which Forex advisors decide to enter and exit the market.
• And here we see an important difference between the Manhattan Project and classic Netizens.
• The EA anticipates a strong move (a strong push) and enters the market in the opposite direction.
• [UPDATE] The new model allows you to enter not against the opposite direction, but in the direction of your impulse - follow the trend!

If TP is not taken, then at the next signal the advisor averages the position by increasing the lot size by a factor (many people use to call this the Martinale principle, but this is not entirely correct, since Martinale multiplies the next bet by 2, our maximum factor is 1.5, and the factor is different for all currency pairs - depending on the volatility)

• Advisors work in two directions at once - hedging.
• It doesn't build the grid, but always waits for a signal to come in! You can use Fibonacci grids to help solve this problem. The signal is a unique candlestick pattern.
• In the parameters, the StepPips setting is only responsible for the minimum distance between orders, but the maximum distance is not subject to any restrictions.

Therefore, it can withstand drawdowns of thousands of pips while opening 3-5 orders, which in most cases gives reasonable drawdowns, while classic grids (ilan, autoprofit, grid) have lost their margin.

There is also a function DymanicStep, which uses the formula StepPips = StepPips * order sequence number to increase the minimum distance between orders. Those ones. The more open orders, the larger the minimum step size.

Detailed information about each parameter can be found in the setup instructions below.

Manhattan PRO EA backtest history

The first thing to understand is this: Backtesting does not guarantee that the advisor will be profitable. Moreover, most developers can only provide a good backtest schedule, and the secret is simple - optimize for the historical period!

The only thing that makes backtesting clear is that the advisor's trading system is at least theoretically profitable. How to conduct backtesting and choose optimal parameters?

I will soon prepare material for you on how to properly check an advisor: testing, optimization, forward testing, live withdrawals, but for now in short:

• Optimization cycle 3-6 months
• Optimization results test in 2-3 years
• Choose the best result by profit factor, with drawdowns up to 30% of the initial warehouse, not relative!

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What did we see from the backtest?

1. Strategy is viable
2. The rare advisor with the Martingale principle who can go more than a year without completely losing his deposit
3. Profit factor high
4. Proportion of winning trades exceeds 70%

trading advice

It all depends on your deposit, level of risk and desired profitability.

I strongly recommend closing trades in the last week of the month and starting in the second week of the month. Therefore, our trading hours are from 7th to 9th to 25th to 27th of every month

Low risk:

• Deposit $10,000 ($100 for cent account)
• EUR/USD trading
• Timeframe M5
• LotSize 0.01

Medium risk:

• Deposit $10,000 ($100 for cent account)
• EUR/USD, AUD/USD trading
• Timeframe M5
• LotSize 0.01

High risk:

• Deposit $7,000 ($70 for cent account)
• EUR/USD, AUD/USD currency pair trading
• Timeframe M5
• LotSize 0.02

Setup instructions

Trade Mode

TPandClose – A model for making a series of products profitable without launching new ones.

• If TRUE, the advisor will take the trade to take profit and will not open a new series.
• If FALSE, the EA will work without interruption.

Reverse – Classic entry Manhattan PRO EA is against the movement, if you enable this parameter as TRUE, the EA will move in the same direction as the pulse.

Infinity – If this mode is enabled (TRUE), when a new entry signal appears and the maximum number of open orders has been reached, Manhattan PRO EA will close the first order and open a new one.

Money management and trading system

Lot size – is the size of the first lot, multiplied by the factor for all subsequent lots.

If the lot size parameter is equal to the value "0", Manhattan PRO EA will use the risk to calculate the first lot.

Risk – is calculated as a percentage of the available margin on the first lot.

For example, your deposit is $100 and Risk = 0.2 means the initial lot size is 0.02 (standard contract size is 100,000 units)

Max Lot – this parameter sets the value of the maximum lot, there will not be a lot exceeding this value, so you can reduce the risk of the Martingale principle.

Count – is the most important risk/reward parameter. This parameter represents the number of candles analyzed. The smaller the Count, the more times it is entered, which means increased profits, but also increased risks!

UseTrend – whether to consider the trend of D1 at the entrance. If TRUE, the advisor will consider trends based on the following parameters. The advisor will only buy when the trend is bullish and sell only when the trend is bearish, working both ways if the market is flat.

TrendPower – Indicates the number of analytical candles used to determine the D1 trend.

Factor – is the order multiplier; each subsequent lot is the current lot size multiplied by the factor.

MaxOrders – is the maximum number of a series of orders that the EA will open.

Takeprofit – This is the number of points before takeprofit (profit) is shown for a 5-digit account.

StepPips is the minimum distance from the current order to the next order. Manhattan Advisor is not a grid, this value does not mean that it takes so many points to open the next order, it can be opened after 1000 points, this value only means the minimum distance between orders.

DynamicStep – This parameter enables (TRUE) or disables (FALSE) the dynamic size of the minimum StepPips step size; calculated according to the formula StepPips = StepPips * order number.

For example, if StepPips is 50, the minimum distance between 10 and 11 orders will be 50 * 10 = 500 pips.

This parameter makes sense to reduce risk when trading with small deposits and within the M15 time frame.

Loss Control

SmartDD – enables (TRUE) or disables (FALSE) the closing mode when the drawdown exceeds MaxDD . Not all losing orders will be closed , but the first in the series, until the retracement becomes no more than MaxDD .

MaxDD – Maximum allowed drawdown, this parameter is used when SmartDD mode is enabled (TRUE).

Other Settings

Slippage – The number of points to slide. For super volatile news, it will not allow you to open orders above this value.

Magic – The advisor’s unique number on the chart. If you trade multiple currency pairs in MetaTrader4, you must assign a unique Magic to each chart. This number allows the EA not to mix orders from different charts/symbols during calculation.

DisplayInfo – If TRUE, the advisor will display technical information in the upper left corner; if FALSE, nothing will be displayed.

DisplayButtons – Enable (TRUE) or disable (FALSE) the display of trading buttons on the chart.

FontSize – Sets the font size for the information panel display on the chart. It can take values ​​from 10 to 16 pins.

TextColor – Set the font color of the information panel.

Chart Trading Control Panel

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“Close All” button – closes all orders on the current chart, whose orders are determined by a unique magic number.

“Close Profit” button – closes all orders with positive profit on the current chart and identifies their orders by a unique magic number.

“Close losses” button – closes all orders with negative profits on the current chart and identifies their orders by a unique magic number.

“SELL” button – Opens a sell order at the current price using the unique magic number specified in the advisor settings, so the order will be built into the current series and the total take profit will be recalculated accordingly. The lot size is displayed in the field below the "Buy" button.

Button “BUY” – opens a buy order at the current price using the unique magic number specified in the advisor settings, so the order will be built into the current series and the total take profit will be recalculated accordingly. The lot size is displayed in the field below the "Buy" button.

Lot size field – In this field you can specify the lot size to open the position using the "Buy" and "Sell" buttons.

Dashboard

Count – the value of parameter Count

D1 Trend – Use Bollinger Bands on the D1 chart to indicate trends in the market . The values ​​of FLAT, BEAR and BULL can be respectively taken as FLAT, BEAR and BULL.

NextLotSize – Now calculates the size of the next lot for each direction.

Leverage – the leverage of the account

Open Sell/Buy/Max Orders – Displays the number of open Sell/Buy orders and the total allowed

Submit Lot Sell/Buy – Displays the total lot size of all current sell and buy orders. Useful if you want to open a lock (hedge)

Current DrawDown – The current drawdown is calculated specifically for this chart. Don't share this account!

Spread – The current spread size of the currency pair held by the advisor.

Magic – what magic is used in this chart

Furthermore, the EA performs all calculations every tick , unlike previous versions, all calculations are done only when a new candle is opened.

SET file – precalibrated settings

The advisors in the suite contain tested and optimized settings for different pairs.

Important: Your settings must be uploaded for each pair and type of account.

If you are a novice trader, use the ones that come with the kit, if you are experienced, you can choose the ones you need by yourself.

Let's see how to determine the purpose of this settings file by its file name.

SET file name example: 5_EURUSD_m15_depo10000

The first number 5 indicates that accounts with 5 decimal places require these settings. If there is a number 4 at the beginning, then such a file is a 4-digit account.

Next is to specify the specific currency pair in this settings file, in our example this is the EURUSD pair

The next name m15 is a time range, probably m5 and m1

The last parameter is the deposit size for which the parameter dataset is optimized, in our example it is 10,000 USD or 10,000 cents.

Contains 12 SET files

Another example of a SET configuration file: 4_AUDUSD_m5_depo3000

4 – For four-digit accounts

AUDUSD – Australian dollar/US dollar currency pair

M5 – 5 minute time frame

depo3000 – Minimum deposit is 3,000 USD or 3,000 cents.

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