The M24 Sniper EA is an automated trading system designed to make trading decisions in the MetaTrader 5 platform. It follows a strategy of sell stops and buy stops and modifies them accordingly to open and manage trades without manual intervention.
Key Features:
Risk Management: You can set the level of risk you're comfortable with by specifying the percentage of your account balance that you're willing to risk on each trade.
Stop Loss and Take Profit: The EA has built-in mechanisms to limit potential losses (Stop Loss) and lock in profits (Take Profit) for each trade.
Volume Settings: You can choose to trade with a fixed lot size or use a percentage of your available trading volume.
Spread and Slippage Control: The EA can be configured to take into account the spread (the difference between the buy and sell price) and slippage (the difference between the expected price and the executed price) when making trading decisions.
Trailing Stop: This feature allows the EA to dynamically adjust the Stop Loss level as the market price moves in favor of the trade. This helps to lock in profits.
Automatic Order Management: The EA keeps track of open positions and pending orders, and can modify them based on market conditions.
Magic Number: Each order placed by the EA is tagged with a unique identifier (Magic Number), which helps distinguish its trades from other EAs or manual trades.
User-Friendly Comments: The EA provides comments in the trading platform to keep you informed about its actions, including version information and trading conditions.
Important Note:
It's crucial to properly configure the EA settings to align with your trading preferences and risk tolerance.
Remember that using any trading system, including EAs, involves risk. It's advisable to thoroughly understand the EA's strategy and conduct proper testing in a demo environment before applying it to a live trading account.
