The Milky Way Expert Advisor is the dream of “lazy” traders who want to “press the button and watch the deposit increase.” This robot is ideal for those who are not looking for a quick deposit acceleration, but for minimal risk, a conservative strategy that does not require control. The EA is periodically updated for market changes.
Overview of the Milky Way trading advisor
Milky Way is developed for MT4. Its distinctive feature is the simultaneous operation of several currency pairs according to the algorithm for opening deals on trend rollbacks. The robot belongs to the medium-term – open strategies can be held in the market for several days, but before the weekend all transactions are closed. Currency pairs – “majors” and cross-rates with their participation. The recommended timeframe is H4, but you can set the H1 interval during testing.
- Work algorithm. The EA monitors trends that appear with increased volatility. The main indicator is Bollinger Bands. The EA waits for the breakout of the channel borders, evaluates the breakout candle relative to the size of the previous candles, and then opens a deal on a rollback. DeMarker and Ozymandias indicators are used as filters. Closing a deal – by stop or by indicators ATR, MACD, stochastic.
- Settings. Settings consist of several blocks. Entry settings – here you can specify the period of the Bollinger Bands and the height in points of the signal candle. Parameters Ozymandias and DeMarker – settings for entering the trend after a rollback is confirmed. Market exit settings block – settings for indicators, stop/trailing options, risk management settings, service settings.
- Advantages. The developers refused to use high-risk tools. Not applicable when calculating the position volume Martingale, no variable lot, averaging, locking.
- Flaws. At the first stages, the adviser can “mark time”. The robot does not show serious drawdowns, but after the launch there will be no profitability for some time.
The advisor is free. To start, download the installation file, add it to MT4 through the menu “File / Open data directory” to the Experts directory, restart the platform. Before launching the Expert Advisor on a real account, run it with basic settings in the MT4 tester. Did you like it? Run it on a cent account. This way you will test the adviser in real conditions with minimal investment and make sure that the broker is reliable.
Conclusion. The advantage of an adviser is that it almost does not need to be controlled. Launched on the platform, it manages trades in a conservative way, maintaining stability under the influence of fundamental factors. Recommended for testing!