Transcendence

Transcendence is an expert advisor for algorithmic trading in Metatrader 5.

It has been designed to trade on leverage 1:100. The higher the leverage the more freedom the EA has to hedge, however this EA can be used on platforms with leverage as low as 1:10 but please do your own back-test and optimisation.

The EA utilises a high profitable trend-following technical strategy combined with a hedging strategy to mitigate drawdowns and turn losing trades into winning ones.

It has not been designed to be a high-risk strategy or Martingale strategy like many other expert advisors that can blow your account very fast.

This EA can steadily and safely grow your trading account over time without the worry of big drawdowns and losing your whole investment. 

The EA can be adjusted according to specific parameters that allows for a bit more trading risk should you wish to try that.

It is essential that you run this algorithm on your charts with a VPS to support it so that it can trade at any time of the day or night.

The EA can be used on any forex pair, any time frame and any indices, such as Dow Jones 30 or commodities, such as Gold.

For each instrument, and for each time frame, you will need to adjust the settings of the EA accordingly so that it can perform correctly on the instrument you are trading. If you do not adjust the settings properly then the EA will not work properly. For example, the Dow Jones 30 has 2 decimal places but the EURUSD has 5 decimal places. The settings for the Dow Jones 30 can not be used for the forex pairs.

The EA can be used on all time-frames from 1 minute scalping to higher time-frames and swing trading on 1 hour/4 hour/daily/weekly. Please ensure you adjust the lot size and profit percentage parameters accordingly as one set of parameters that work well on a 5 minute time-frame will not work for the 1 hour time-frame.

After purchasing the EA, you are welcome to send me a private message where I can guide you further with back-testing the strategy and optimising it if you need it.

Download the EA to test it for yourself and see the great steady gains over time.

I would appreciate a positive review if you like the EA.

Please let me know if you have any questions.

Pay attention to the following inputs:

Leave all inputs alone except the ones described below which you may edit.

The default parameters are not necessarily profitable parameters to be used on every forex pair or indices or commodities; you need to optimise the EA and find the profitable parameters for the instrument you want to trade.

LotSize: This means the size of the initial or first trade that is opened.

AddLot: This means the size of each pending order after the first trade when the EA needs to hedge. If this is set to 0.02 for example and the LotSize is set to 0.01 then the first trade is 0.01 with a buy stop and sell stop pending order of size 0.03 and then 0.05 etc until the profit percentage parameter is obtained.

Reverse Pending Step: This number by default is 100, which means 100 points for forex pairs such as EURUSD and GBPUSD etc, however if you want to use the EA on the Dow Jones 30 then please edit this number to 10000 for 100 points and 500 for 5 points etc. The reverse pending step input tells the EA where to place the first hedge pending order.

Continue Pending Step: This number by default is 50, which means 50 points for forex pairs such as EURUSD and GBPUSD etc, however if you want to use the EA on the Dow Jones 30 then please edit this number to 2000 for 20 points and 500 for 5 points etc. The continue pending step input tells the EA where to place every hedge pending order after the first hedge pending order. You must set the continue pending set parameter less than the reverse pending step parameter. This ensures that when the market reverses, the hedge pending orders are opened near each other to counteract the drawdown.

ProfitPercentage: Keep this number low to start with to see how much drawdown you are comfortable with. The lowest setting this number can be is 0.001. This number is the percentage of the account balance that you would like the EA to win on of every trade (this also means a group of hedge trades). By default, this is set to 0.001. For example, if this parameter is set to 0.05 and your account balance is £10,000 then the EA will close all trades only after £50 is the floating profit. If the ProfitPercentage is set too high, for example, over 1%, then the EA could struggle to earn that much on every trade and you run the risk of losing trades or blowing your account.

Activate_BreakEven: This number is a percentage of the ProfitPercentage parameter. For example, if your ProfitPercentage is set to 0.05 and the Activate_BreakEven is set to 50, this means the EA will automatically lock in your profits once the floating profit is 50% of 0.05 or 0.025% of the account balance i.e., £25 if your profit target was £50.

BreakEven_Limit: This number is a percentage of the ProfitPercentage and is always lower than the Activate_BreakEven parameter. The BreakEven_Limit parameter is the percentage of ProfitPercentage at which the EA will close all trades in a profit if your profit target was not reached after the Activate_BreakEven percentage was activated. For example, if your account balance is £10,000 and your ProfitPercentage is set to 0.05, your Activate_BreakEven is set to 50 and your BreakEven_Limit is set to 25 then this means that the EA will aim to earn £50 on every trade, however, once the floating profit of £25 has been reached the EA will lock in profits at 25% of your ProfitPercentage and close out all trades with a profit of £25 if prices retrace to that level in the market, if they don't then the EA will close out all trades with the full profit target of 0.05% of account balance or £50. 

Allow_Friday_Entry: This input gives you the option for the EA to be switched on or off to trade on Friday's. Friday can be a very volatile day in the markets so you have the option here for the EA not to trade on Friday if you wish.

MaxDD: This input gives you the option to adjust the drawdown percentage of when all the trades will close once the drawdown exceeds this percentage of the account. For example, if your account balance is £10,000 and the MaxDD parameter is set to 10 then the EA will close all trades once the drawdown of £1,000 or 10% of the account balance is hit. This is a safety feature that helps keep traders from blowing their accounts.

The EA works best when you enable low-risk settings such as keeping the ProfitPercentage parameter low and the LotSize parameter low. As your account grows past £10,000 then you could increase these parameters slightly.

It is your own responsibility to manage the risk settings in the EA and you are encouraged to back test this EA over at least a year on any instrument. All the liability is on the user of the EA and they must ensure they do not take on more risk than their trading account can handle as they run the risk of blowing their account at any time. The EA is not designed to be a high-risk and high-return trading strategy. It can be very profitable in the long-term so be patient and don't give up your day job just yet!