The Aura Black Edition for MetaTrader 4 is a fully automated Expert Advisor (EA) that incorporates a flexible risk management system, customizable trading hours, and trailing features designed to adapt to various market conditions. Below is an in-depth breakdown of its key parameters, which play a crucial role in the EA’s performance, safety, and profitability.
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📌 Key Settings and Performance Parameters
- Daily Loss Limit:
false– Daily loss protection is disabled. - Daily Loss Limit %:
5.0– When enabled, EA would stop trading after a 5% daily loss. - Recovery Mode:
false– No martingale or loss recovery mechanism used. - Recovery Coefficient:
2.8– Used in recovery calculations (inactive due to disabled recovery). - Forbiddance of Trading after Loss:
false– The EA continues trading regardless of previous losses. - Duration of Forbiddance:
300 minutes– Set delay after loss (if enabled). - Risk Percents %:
10.0– Aggressive risk setting per trade, though overridden if fixed lot is used. - Lot for Balance:
0.01– Conservative micro-lot sizing based on balance. - Fix Lot (if then Auto):
0.0– Enables auto lot size based on balance. - Balance:
100.0– Reference value for lot calculation. - Number of Opened Deals:
3– Maximum number of simultaneous trades. - Open Opposite Deals:
true– Allows long and short positions at the same time.
🕒 Trading Hours
- Start Time:
01:00| End Time:23:00– Broad trading window to capture opportunities. - Delay of Open the Deal:
10 seconds– Optional entry delay for market stabilization.
💼 Trade Execution
- MaxLot:
100.0– Upper limit for lot size, allowing scaling up. - Slippage:
100– Tolerant slippage setting; flexible for fast-moving markets. - MaxSpread:
200– Accepts trades under 20 pips spread, suitable for volatile assets. - Only Buy/Sell: Both
false– EA trades both directions. - Magic Number:
1– Unique ID to identify trades from this EA. - Close At Friday:
false– Trades remain open over the weekend.
📈 Trailing & Exit Strategies
- Trailing On:
true– Activates dynamic trailing. - Trailing Start:
30.0 pips– Begins trailing when trade is in 30-pip profit. - Trailing From:
10.0 pips– Starts trail movement after initial profit buffer. - Trailing Step:
5.0 pips– Trail adjusts in 5-pip increments. - Use Breakeven:
true– Automatically sets stop loss to entry once trade reaches defined profit. - Breakeven Activity:
50.0– Triggers breakeven at 50 pips. - BE Pips:
5.0– Locks in 5 pips profit when breakeven activates. - TakeProfit:
150.0– Target profit in pips. - StopLoss:
250.0– Defined risk per trade, balancing high reward-to-risk.
📰 News Filter Settings
- Use News Filter:
false– EA trades regardless of economic events. - Avoid Trading Around News:
60 minutes before and after(inactive unless filter enabled). - Targeted Currencies: USD, EUR, GBP, CHF, CAD, AUD, NZD, JPY – Full spectrum for news events.
- Calendar Importance High:
true– Recognizes significant news (if filter enabled). - Calendar Importance Moderate:
false– Ignores mid-level news (if filter enabled).
✅ Conclusion
The Aura Black Edition MT4 is engineered for flexible, high-performance trading, offering a wide range of customizable settings to suit both aggressive and balanced strategies. With 10% risk per trade, dynamic trailing, and a broad trading window, this EA is best suited for traders aiming for higher profits while accepting moderate to high drawdown.
Despite having risk controls like trailing stop, breakeven, and fixed lot size, some safety features (like daily loss limits and news filters) are currently disabled in this configuration. This setup suggests the EA is tuned for maximum market exposure, which can be highly profitable but carries inherent risk.
For optimal performance, users may consider enabling the news filter and daily loss protection, especially in volatile trading weeks. Overall, Aura Black Edition MT4 provides a powerful toolset for serious traders looking for automated precision with manual oversight.
