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FREE R Mode 1.1

FREE R Mode 1.1

R Mode is a system that opens trades in grid and works with hidden pending orders, and hidden TP. It uses a special algorithm to close trades when the difference between the last trade and first one reaches a pre-set percentage.  It has a compounding system where more than one trades compound to close the earliest trade in profit. The system not only focuses on increasing the account balance but also controlling the DD levels. To control the DD, after a certain number of trades, it starts ‘recovery mode’ which closes trades in break even instead of profit. 

This EA cannot be back tested on strategy tester as it uses a single chart with multiple currency pairs.

For monitoring signals please visit my profile:

https://www.mql5.com/en/signals/author/readytogolive

Minimum funds is $125 and a broker with 1:500 leverage recommended. 


  Recommended broker: https://www.icmarkets.com/?camp=50510

  Raw Spread account, USD, 1:500 leverage

  You can download the set files here.  Please make sure to read the readme.txt file first.
 


If your currency pairs are named differently by your broker, you will need to change it on the EA settings.  Ex: EURUSDp 

It is recommended to take profit every month.

Please be careful if you are using this EA with multiple-pairs as it may cause high DD (or use small lot sizes). It best performs with a single pair, EURUSD giving the best performance). Avoid JPY and GBP pairs as they may become uncomfortably volatile. 

EA Parameters:

Please note that the EA settings are all in points, not pips. So, if you wish to enter 10 pips, you should enter 100. 

Currency Pairs: Insert here the pairs you would like to trade with in comma separated format. Ex: EURUSD, GBPUSD, USDJPY.  Please note that it is not recommended to use it with too many pairs at the same time as it increases the risk. Recommended is to use with only EURUSD.

Double Pending Distance in points: Distance from the current price to create hidden pending orders.

Seconds to expire pending orders: Once a hidden pending order is opened, it expires after the given time frame.

Pause in seconds between orders: To avoid being caught in a losing stream, the EA gives a break between each closed order.

Take Profit (% from balance): EA takes profit when the difference between the last and the first order reaches this percentage.

Compound Winning Trades: If set to ‘false’ only it uses only the difference between the last order and first order to take profit. If it is set to ‘true’, more than one recent trades can be used to close the earliest trade in profit. (Recommended value: true)

StopLoss: You can set a stop loss using this section.

Max Spread: If the current spread is above this value, it does not open a new order.

Max Slippage: If the slippage is above this value, it does not open a new order.

Magic Number: Keep it as default, or change as you wish.

Comments: Comment you wish to see on MT4 order

Auto Lot Per 1000: Enter here the lot size you wish the EA to open per $/£/Eur 1000. Recommended value: 0.005 or lower.

Activate full close settings: If you wish to close all trades when a specific DD or PL occurs, enable this.

Close all positions everytime the equity goes up by  %:  It closes all open orders when the equity goes up by that %.

Close all positions everytime the equity goes down by %: Depending on your risk appetite you can choose to close all trades when there is a certain % of DD

Open a new trade when loss reaches multiples of (points): You can set here when you expect an additional trade to be opened when a trade goes in loss.

Level Limit: Maximum number of trades that can be opened per pair.

Recover mode starts on level: When there are this many trades open, it will start the recovery mode to close trades in break even instead of trying to turn profit. 

PLEASE NOTE THAT MARKETS CHANGE ALL THE TIME AND PAST PERFORMANCE IS NOT INDICATION OF FUTURE PERFORMANCE.  USE THIS EA AT YOUR OWN RISK AND TRADE RESPONSIBLY. 

R Mode

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