EA Manhattan PRO V4.5 – Unlimited Version

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EA Manhattan PRO V4.5 – Unlimited Version 1

Colleagues, I present a new version of the Forex advisor “Manhattan PRO 4.5” + new SET files!
All innovations highlighted [UPDATES], [NEW MODE], [NEW PARAMETER]

EA Manhattan PRO V4.5 – Unlimited Version 2

Forex Advisor Manhattan PRO 4.5
For those who are not familiar with the adviser, first of all, we will consider the basic algorithm and principles of the Manhattan PRO adviser, and after that we will get to know what opportunities the new version provides.

” So, let’s go:

Forex Review of Manhattan PRO 4.5 Advisor Advisor

“Manhattan PRO” at first glance a typical representative of the “net” working using the Martingale principle. This is neither good nor bad, but it is important to know.

This principle increases many times the risk, but also profitability.

Let’s see if everything is so “typical” in Manhattan PRO

Working Principle – Trading System

Many newcomers, but to be honest, and many pros who consider themselves to be scared away by Martingale, as this principle is perceived as the basis of the trading system.

You need to understand that the Martingale principle is not a trading system, but a money management system i.e. lot size management system. More about this below, but first about the trading system. What is a trading system?

These are the rules, the system by which Forex advisors  decide on entering and exiting the market.

And here we see an important difference between the Project Manhattan and the classic netizens.

The EA expects a strong movement (powerful impulse) and enters in the opposite direction.

[UPDATE] The new mode allows you to enter not against, but in the direction of the impulse – along the trend!

If TP is not taken, then on the next signal the adviser averages the position by increasing the lot by a factor (many are used to calling it the Martingale principle, but this is not entirely true, since Martingale multiplied the next bet by 2, we have a maximum factor of 1.5 and different for all pairs – depends on volatility)

Advisor works simultaneously in both directions – hedging.

It does not build a grid, but always waits for a signal to enter! The signal is a unique candlestick pattern.

In the parameters, the StepPips setting is responsible only for the minimum distance between orders, but the maximum is not limited by anything .

Thus, it can withstand drawdowns of several thousand pips while opening 3-5 orders, which gives a reasonable drawdown in most cases, where the classic grid (ilan, autoprofit, grid) will already lose the deposit.

There is also a function DymanicStep which increases the minimum distance between orders using the formula StepPips = StepPips * order serial number. Those. the more open orders the greater the minimum step.

Details about each parameter can be found below in the description of the settings.

Principle of work – Money Management

To increase the mathematical expectation, the Martingale principle is used, which, when used wisely, makes it possible to increase the percentage of winning trades up to 70-85%.

Unfortunately, using classic money management this cannot be achieved.

What is reasonable use? 

For convenience, the adviser comes with several sets of SET files that will allow you to work in different modes for a different initial deposit

Forex Backtest Advisor Manhattan PRO

The first thing to understand: backtests do not guarantee that the adviser is profitable.

Moreover, the bulk of developers can only provide backstests with a beautiful schedule whose secret is  simple – optimization for the historical period!

The only thing that makes the backstest clear is that the trading system of the adviser can at least theoretically be profitable.

How do I conduct backtests and select the optimal parameters?

I’ll soon prepare for you material on how to correctly check advisers: tests, optimization, forward tests, real-time withdrawal, but for now in a nutshell:

Optimization for a period of 3-6 months

Tests of optimized results for a period of 2-3 years

Choosing the best result by profit factor with a drawdown of up to 30 percent of the initial depot, and not relative!

Backtest pair EURUSD

Testing period 01/05/2015 – 01/05/2017 – two years.

Initial deposit of 10,000,

Fixed lot,

Timeframe M5

EA Manhattan PRO V4.5 – Unlimited Version 3

Backtest pair EURUSD

Testing period 01/05/2015 – 01/05/2017 – two years.

Initial deposit of 10,000,

Settlement lot – percentage of the deposit,

Timeframe M5

EA Manhattan PRO V4.5 – Unlimited Version 4

Backtest pair EURUSD

Testing period 04/30/2015 – 04/27/2017 – two years.

Initial deposit of 3000,

Fixed lot,

Timeframe M15

EA Manhattan PRO V4.5 – Unlimited Version 5

Backtest pair AUDUSD

Testing period 04/30/2015 – 04/27/2017 – two years.

Initial deposit of 3000,

Fixed lot,

Timeframe M15

EA Manhattan PRO V4.5 – Unlimited Version 6

Backtest pair AUDUSD

Testing period 04/30/2015 – 04/27/2017 – two years.

Initial deposit of 10,000,

Fixed lot,

Timeframe M5

EA Manhattan PRO V4.5 – Unlimited Version 7

What do we see from the backrests?

Strategy is viable

A rare adviser with the Martingale principle can show more than a year without a complete loss of deposit

Profit factor high

Percentage of winning trades over 70%

But what will trading on real accounts show us? Let’s watch!

EA Manhattan PRO V4.5 – Unlimited Version 8

You can see even more than 10 monitors on real accounts here:

What do we see on real accounts? They are not much different from backrests!

Good profit factor and a high percentage of profitable trades.

And most importantly, the adviser works in plus a long period!

For those who are not familiar with me, I suggest reading the reviews that real traders left on this page

How to achieve such a result?

Recommendations for deposit and type of accounts

1 With a deposit of 30 to 100 USD on a cent account with  Instaforex .

2 Continue from $ 100 in a cent account with ICMarket

3 When your deposit from 1000 USD open a PRO-CENT account with  RoboForex , or a classic Insta.Standart account   with InstaForex

4 If your deposit is more than 3000 USD, then open a PRO account at Weltrade

Trading recommendations

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

I strongly recommend closing the trade in the last week of the month and starting trading from the second week of the month.Thus, we trade from the 7th-9th to the 25th-27th of each month

Low risk:

Deposit 10 000 USD ($ 100 on a cent account)

Trading on EUR / USD

Timeframe M5

LotSize 0.01

Medium risk:

Deposit 10 000 USD ($ 100 on a cent account)

Trading on EUR / USD, AUD / USD

Timeframe M5

LotSize 0.01

High risk:

Deposit 7000 USD ($ 70 on a cent account)

Trading on EUR / USD, AUD / USD pairs

Timeframe M5

LotSize 0.02

Description of settings

EA Manhattan PRO V4.5 – Unlimited Version 9

Operation Mode Section

TPandClose – Mode to bring a series to profit and not open a new one. If TRUE, then the adviser will bring the trade to TakeProfit and will not open a new series.

If FALSE then the EA works without stopping.

[NEW PARAMETER] Reverse – The  classic entry for the EA is against movement, if you enable this parameter TRUE, the EA will go in the same direction where the impulse was.

[NEW PARAMETER] Infinity – If  this  mode is enabled (TRUE), then when a new entry signal appears and the maximum number of open orders has already been reached, the EA will close the first order and open a new one instead.

Section of the trading system and money management

Lotsize is the size of the first lot, all subsequent lots are multiplied  by Factor.

If the Lotsize parameter is equal to the value “0”, then the EA will  use Risk to calculate the first lot.

Risk is a percentage of the free margin for calculating the first lot.

For example: Your deposit is 100 USD and Risk = 0.2 means the initial lot  will be 0.02 (with a standard contract size of 100,000 units)

MaxLot – this parameter sets the value for the maximum lot, there will not be a lot  above this value, so you can reduce the  risks that the Martingale principle is fraught with.

Count is the most important risk / return parameter. The parameter indicates the number of candles for analysis, the smaller the Count, the more often the  input, which means profit increases, but RISK also increases ! 

[NEW PARAMETER] UseTrend – whether to consider the trend at D1 at the entrance. If TRUE, then the adviser will take into account the trend based on the parameter below. The adviser will only buy if the trend is bullish, only sell if the trend is bearish and will work both ways if the market is flat.

TrendPower – indicates the number of analyzed candles to determine the trend at D1.
Factor is an order multiplier; each next lot is the  current lot multiplied by Factor.
MaxOrders is the maximum number of orders in a series that the  EA will open.
Takeprofit – this is the number of pips before Take Profit (take profit) is  indicated as for a 5-digit account.

StepPips is the minimum distance from the current order to the  next. The Manhattan Advisor is not a grid, and this value  does not mean that it is through so many pips that the next order will be opened  , it can be opened after 1000 pips, this value  only speaks of the minimum distance between orders.

DynamicStep – this parameter enables (TRUE) or disables (FALSE) the  dynamic size of the minimum StepPips step; the calculation is carried out according to the  formula StepPips = StepPips * order serial number.

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

This parameter makes sense to reduce risks when trading on small deposits and on the M15 timeframe.

Loss Limit Section
SmartDD – Enables (TRUE) or disables (FALSE) the mode of closing orders when the drawdown is exceeded more
than MaxDD . Not all losing orders are closed , but the first in the series until the drawdown becomes no more than MaxDD .

MaxDD – maximum allowable drawdown, the parameter is used when the SmartDD mode is enabled (TRUE) .

General Options Section

Slippage – the number of pips to slip. With super  volatile news, it will not allow you to open an order further than this  value.

Magic – a unique number of the adviser on the chart. If you are trading  more than one pair in MetaTrader4, you must specify a unique Magic for each chart . This number allows the EA not to mix orders from different charts / symbols during  calculations. 

DisplayInfo – if the value is TRUE, then the adviser will display technical information in the upper left  corner, if FALSE then nothing  will be displayed.

[NEW OPTION] DisplayButtons – enables (TRUE) or disables (FALSE) the display of trading buttons on the chart.

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

TextColor – sets the font color of the information panel.

Chart trading control panel

EA Manhattan PRO V4.5 – Unlimited Version 10

Button “Close All” – closes all orders on the current chart, determining their orders by a unique Magic number.

Button “Close Profit” – closes all orders with a positive profit on the current chart, identifying their orders by a unique Magic number.

Button “Close Loss” – closes all orders with a negative profit on the current chart, identifying their orders by a unique Magic number.

“SELL” button – opens a SELL order at the current price with a unique Magic number specified in the advisor settings, thus the order is built into the current series and the total TakeProfit is recalculated accordingly. Lot size is indicated in the field under the BUY button.

Button “BUY” – opens a BUY order at the current price with a unique Magic number specified in the advisor settings, thus the order is built into the current series and the total TakeProfit is recalculated accordingly. Lot size is indicated in the field under the BUY button.

Lot size field – in this field you specify the size of the lot to open using the BUY and SELL buttons.

Dashboard
Count – values ​​of the parameter Count

D1 Trend – using Bollinger bands on the D1 chart, indicates which trend is on the market . It can take the values ​​FLAT, BEAR and BULL respectively in the flat market, BEAR and BULL.

NextLotSize   – the size of the next lot is now calculated for each direction.

Leverage – leverage for this account

Open SELL / BUY / Max Orders –  shows the number of open SELL / BUY orders and the total allowed number

[NEW DATA]  Summ Lot SELL / BUY – shows the total lot of all current open orders in SELL and BUY. Useful if you want to open a lock (hedge)

Current DrawDown – the current drawdown is calculated specifically for this chart. Not shared for the account!

Spread – the current spread size for the pair on which the adviser stands.

Magic – what magic is used for this chart

Also, the EA makes all calculations every tick , unlike the previous version, when all calculations were done only when a new candle was opened.  

SET files – Ready Settings

The adviser in the kit contains tested and optimized settings for different pairs.

IMPORTANT: it is mandatory for each pair and type of account to upload your settings.

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

Let’s look at how to determine what this settings file is for by the name of the file.

Example SET file name:  5_EURUSD_m15_depo10000

The first digit 5 ​​indicates that these settings are needed for an account in which there are 5 decimal places. If at the beginning there was the number 4, then such a file for a 4-digit account.

Next comes the designation for which particular pair of this settings file, in our example, this is a pair of EURUSD

The next designation m15 is a timeframe, maybe m5 and m1

And the last parameter is the deposit size for which the data set of parameters was optimized, in our example it is 10,000 dollars or 10,000 cents.

Another example of a SET configuration file:  4_AUDUSD_m5_depo3000

4 – for a four-digit account

AUDUSD – for the pair Australian dollar / US dollar

M5 – 5 minute timeframe

depo3000 – minimum deposit of $ 3,000 or 3,000 cents.

EA Manhattan PRO V4.5 – Unlimited Version 11