Gecko runs a simple, yet very effective, proven strategy. It looks for important recent high and lows and will trade the breakouts.
The actual execution of this strategy however, is what makes this EA truly shine. Entry calculations and exit algorithms are not only unique but also very advance
The EA uses many trade management techniques, including but not limited to:
a Trailing SL, using multipe parameters to control its function
“Move to Break-even” at certain point, with the possibility to add extra pips to the point of breakeven
Trailing SL based on recent highs/lows, including an option to run this only until breakeven level (to provide more room for full TP to be reached)
Trailing SL based on trade duration, to limit exposure after the move has run out of momentum
This is NOT a scalper EA, and it does not use any grid/martingale or other risky techniques. It uses very strict Stoploss, at safe distance.
There are many risk management option, including setting a certain risk per trade.
gecko ea v1.2 forex robot is developed mainly for EURUSD, since it is the most succesful pair for running breakout strategies. However, backtests shows promising results on multiple pairs already, without any optimization for those pairs.
Safe trading: every trade is protected by a Stoploss
EA is not sensitive to spread or slippage
No risk of over-optimization, since no optimization process has been done
No dangerous money management techniques used like grid or martingale
High correlation between live trades and backtest trades
Very high hitrate (>80% of trades are profitable)
Stress Tested with 99.90% tickdata using variable spread and slippage simulation
EA’s individual settings, like Magicnumber, Trade_comment, infopanel activation
Lotsize settings: here you can determine how the EA will set the lotsize. Based on balance (Lots Per Balance), or based on risk per trade for example
For LOW RISK, use Lots Per Balance= 200 or bigger. For MEDIUM RISK, use Lots Per Balance=100. For AGGRESSIVE RISK, use Lots Per Balance = 50
Maximum allowed spread can be set
The option for Virtual SL is available for those who don’t want the broker to know the SL location
Entry parameters: these include (currencly) 3 entry models, entry timing, and various parameters to determine the entry’s strictness
Stoploss and Takeprofit can be set
TrailingSL can be set, including where to start, stop, size of the TrailSL, and when modify
Breakeven settings, with a start parameter, and a parameter for adding extra pips
High/Low trailingSL can be activated, including option to stop at breakeven
Time based TrailingSL, which will be activated after X minutes