Recruitment of participants Index Lord MT5 (no dll)

Index Lord MT5
V2.3

IndexLORD is an index scalper using major indices. This majors run with good liquidity all day and low spreads and conditions. The system is a frequent trader with over 5 trades per day on average, more on volatile days and less on slower trading days. So, it is an exciting to monitor and watch with plenty of trading action taking place during the European and US sessions only. The system trades only between the hours of 8am EST to 5pm EST. All trades are closed off before the end of the US session if any are ongoing. Its does not trade asia session.

IndexLORD shows incredible backtesting agility and is congruent with forward live trading, demonstrating superb long term promise.

IndexLORD works on 5 different charts. NASDAQ X 2 and DOW X 2, SP500 X 1. Timeframes vary from the 1 min chart to the 5 min chart. Each trade is protected by 30-60 points stop loss. The system uses a trailing stop function activated from 5 points gain onwards. The settings has an increase lot factor should user wish to increase after loss, however it can be disabled. (i.e each trade will be same size as prior one)

IndexLORD can have multiple trades open in same, especially closer to the market open as prices are rampant, and can trigger a trade on the 1min & 5 minat same time. The norm is 1 or 2 maximum open at one time, however it is technically possible to have 5 trades open in one time. (i.e 1 trade from each chart)

IndexLORD uses candles as the mainstay indicator for entry. Indices are quite dependent on momentum and systems function well when they are tracking high volume, momentum moves. The system has predetermined candle sizes for entry and once this condition has been, (along with other internal driven mechanisms) a trade will open, the stop loss and take profit are placed instantly. The use of stop loss is particularly essential in trading indices as they can move fiercely against your trade in a short period, leaving the trader highly exposed without stop protection. Thus, although not to everyone's taste, its crucial for trading longevity to operate like this.

Using price action mechanisms for trading offer the trader completely different perspective over standard indicator based trading. Without market movement or thrusts, the system will be idle, ensuring a high win rate and not taking poor trading entries. The logic is sound for long term success.

IndexLORD works best in ECN driven feeds, and direct market access brokers with low spreads in all indices and low slippage environments. More often than not, brokers are unpolished in the art of CFD trading, and the prices tend to be laggy, off quote, price smoothing or poor spread. However with the right broker, the system is explosive.

Works on Prop accounts with brokers offering good conditions on Index Trading.

Strategy Summary:

• Trading Instrument: NASDAQ100/ US30 (DOW) /SP500
• Minimum deposit : $100 if your broker offer 0.1 trading index lots (most do)
• Timeframe: 1 min, 5 min
• Broker Offering : Any decent broker with good conditions in Indices (afterprime/fusion/IC/GMG/admiral/pepperstone/tickmill)
• Account type: Low Spread with Commission. (RAW/RAZOR/ECN)
• IMPORTANT: Make sure to check spread before using each pair, target NasDAQ is <1.0, DOW30 < 2.0
• Account type: Hedging only (possible to have long /short same time in one instrument)

TradingSpecifications:

• Trades >5 time daily average
• Entry - Open of new bar on 1 min/5min candle
• Exit - By Stop loss, or trailing stop loss.
• Orders are cancelled or closed before 9pm UK time daily.
• No daily rollover or overnight trades.
• VPS not essential but recommended
• Easy setup with only changes to lots / GMT clock if necessary. (and possible changes if broker uses non 6 digit quote)
• Find backtests and any necessary set files in comments and screenshots

Please use setfiles provided in comments for MT4 backtesting and MT5 backtesting. 3 year Backtests are there also.

MT5 will produce longer range tests as more data is available on broker data server.

Code:

https://www.mql5.com/en/market/product/111905?source=Unknown