Viber Prado is a newly released Expert Advisor for the MetaTrader 4 platform from a new developer that has already attracted some users.
Prado EA is also developed for the Cent accounts under the name of Prado Micro, without the trade size dynamics function. New iterations contain the fixed lot allocation option, spot Gold settings, some bugfixes, control options for the Stop Loss, Take Profit, and other pending orders, spread filter, and additional settings range.
Overview As we take a look at trading robot prado settings of the EA, we could say Money Management well developed implying the developer has some experience with trading.
There are 4 signals provided with various risk exposures and assets Prado is engaged, giving traders a much-needed insight into how this EA performs. On the other hand, the Overview page will not disclose much about the EA, most of the content is just filled with links to the signals and setting files. Still, we were able to extract some information based on the settings panel.
It is common to see the Russian language used in the Comments section and other pages when dealing with Russian speaking authors, making English a rare sight. Almost all content in the Comments section is like this so you might find it difficult to find some information. Therefore, it is a slower trading EA with strict Risk Management, adaptive to volatility, with good exit signaling. All this combined draws a well-composed system with good figures in the backtesting charts.
Once the pending order gets triggered, Stop Loss and Take Profit are placed in with the composite Trailing Stop method trailing the price. Except for the obvious ATR indicator involvement, others remain undisclosed.
One reason could be that the developer is not skilled with a presentation or English, but it could also be to refrain from the scary technical content.
Interestingly, to understand the EA functioning, one could look at the EA thumbnail picture and see all the starting setup and the strategy to follow.
After the Q1 volatility jump caused by the COVID in forex, commodity, and other markets, the developer posted a few screenshots of how the EA jumped into the action and resulted in a staggering gain. Settings for the spot Gold open a binary option be downloaded from the attached post in the Comments section, the link is provided.
For testing purposes, it is recommended to count every tick and set it to the H1 timeframe.
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It is very likely the EA is most suited for this timeframe, as mentioned in the comments. Prado has a risk setting according to which you will have different backtesting gains. Of course, more risk percentages will result in bigger gains. In the settings menu, you will have a lot of ambiguous trading robot prado you will not get a feeling for backtesting purposes if you want to change it form the default levels.
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A few of the parameters are clear though. Risk is the exposure percentage of your balance for each trade, measure probably in Stop Loss distance in pips per dollar.
LotFIxS is the classic lot allocation per amount from the account balance. Dollar option value Trading robot prado Loss and Take Profit adjustments are made via the coefficient parameters which are not tangible.
The parameter values are not in pips obviously, so you will have to experiment with these as the formula is not disclosed. Other coefficient related parameters are OpenOrderCoef 2. EveningCoef is another parameter affecting evening trading sessions but again, it is defined by the coefficient.
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The coefficient is probably related to the same variable, most likely the ATR indicator, and this could be easily tested by comparing the values to the ATR current level on default settings. TralBoomStep is the classic step Trailing Stop jumping distance.
There are other parameters related to the Trailing Stop such as BoomMaxPrc probably related to the price change percentage. This implies the EA is heavy with Risk Management measures as mentioned.
Other settings are concerned with the slippage filter, EA working hours and evening tactics, comments plotting, and trade closing time point. This period is too short for any conclusions but the EA made 7 trades. This means Prado has a very sensitive trade exit, most likely the Trailing Stop.
The average holding time is 4 hours making 3 trades per week. So entry timing is very careful, picking the right moments on the H1 timeframe.
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This caused a Both testings are on live accounts. When averaged, the EA made Profitable trades are almost on par with the losing ones, again demonstrating a great loss protection mechanism.
Interestingly there are no options to rent the EA but the price is not an issue for most traders.
The demo has been downloaded times until now showing good attention in its early stage. Conclusion Prado has 7 reviews and all are positive, resulting in a perfect 5-star score.
With three plans to choose from novice, expert and VIP — which differ in minimum deposits and access to currency pairs — you will receive relevant trading suggestions throughout the day. What is great about Algo Signals is that you can use a demo account to test out trades based on their signals which provide entry and exit points for you to base your decisions on. By trading on the demo account, you will be able to evaluate the platform for yourself without having to risk your own cash. You will be able to minimise your risk as long as you install the recommended stop-loss and take-profit orders that is. When you are ready to trade for real, Algo Signals has partnered with licensed brokers to make sure that have the best trading conditions.
Therefore, for now, it is best to use only the developer published settings files in the Comments section if you do not know how the settings affect the trading.