Spark Light EA is a fully automated expert advisor that uses advanced algorithms for the price analysis of the latest trends. Every order has Stoploss, and every order is placed based on the primary or the secondary trend analysis algorithm.
This EA does NOT use Martingale or Arbitrage strategy. It can trade more orders at the same time, but every order has the same Lot size if using Fixed Lot Size.
Spark Light EA is NOT a minute scalper or tick scalper that produces a high number of trades per day. This EA is fully customizable by user and is not limited by trading pair or timeframe (recommended to use on M15 – H4 timeframes). Every trading pair and timeframe requires a slight modification of parameters for the best performance.
Spark Light EA default settings are optimized for EURUSD H1 (optimized since the end of 2017 – present). More optimized files will be added to the blog.
Link to the MT4 version: https://www.mql5.com/en/market/product/39905
Visit the blog for Set files examples, additional information, optimization recommendations, FAQ, etc.: https://www.mql5.com/en/blogs/post/727369
Recommendations
- Adapt your own risk settings according to the account equity and always verify with back-test
- True ECN broker and VPS server are always recommended for any type of automated trading
- Use a minimal deposit of 300 USD per trading pair
- Verify that you have enough margin to trade (especially If using low leverages and small account deposit)
Watch my other products:
https://www.mql5.com/en/users/sevenfourseven/seller
Parameters
General Settings
- Magic – Magic number – MUST be unique for each chart
- Comment Orders – Optional – Custom comments for orders
- Status Interval In Hours – Interval in hours for EA status message (Printed to the Expert tab)
- Enable Push Notify Status – Enable/disable sending EA status via Push notifications (interval of notification set by Status Interval in Hours)
Risk Settings
- Max Orders – Maximum number of orders that can be traded simultaneously
- Min Distance – Minimum distance in points between actual market price and already opened position in case there will be more positions opened
- Close Profit – Closes opened position once this target is reached (per position, but also taken into account number of positions, Closing Conditions, swaps, commissions, etc.)
- Closing Condition – Algorithm for order closing condition (Simple / Combined / Advanced / Exponential)
- Minute Basis Close – If true: the EA will check for the closing condition every minute; if false: the EA will check for the closing condition every new bar
- Fixed Lot Size – The fixed size of the Lot to trade (Use Auto Lot must be disabled)
- Stoploss – Stop loss in points
- Take Profit – Take profit in points
- Max Slippage – Maximum slippage for orders opening and closing
Risk Settings – Automatic Lot
- Use Auto Lot – Enable/disable automatic lot size calculation based on account balance, Stoploss, and number of Max Orders
- Risk In Percent of Balance – Risk in percent of the account balance (also considers the Max Orders)
- Max Lot Size – Maximum size of the lot (Can vary from brokers’ max lot size, because it considers also Max Orders)
Spark Lite Specific Settings
- Trend Period – Main parameter to determine the trend determination
- Main Filter – Filtering of the trend direction false signals
- Weight X– Has impact on trend algorithm convergence (NOTE: These values should NOT be the same – Weight X should be different from Weight Y)
- Weight Y – Has impact on trend algorithm convergence (NOTE: These values should NOT be the same – Weight X should be different from Weight Y)
Info Panel Settings
- Show Info Panel – Show/Hide Info Panel
- Panel Background Color – Info Panel background-color
- Panel Header Color – Info Panel Header background-color
- Header Font Color – Info Panel Header font color
NOTE:
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DISCLAIMER: Please read carefully before you decide to invest in Forex Market
- Forex Trading is dangerous and can result in a substantial loss of money. Due to the uncertain nature of the Forex market, there is no guarantee that our products will produce any favorable results. Before you purchase, please read our RISK DISCLAIMER.
BEAR THIS IN MIND: The Forex market changes from day to day, and that past performance can therefore not be guaranteed to repeat in the future. Past performance shown and in videos may use aggressive trading approaches and risk management to prove the potential of the Forex robot over long periods. Because of this, we recommend that you test the EA on your own broker account using many variations of currencies, time frames, and settings to make sure you experience favorable results in current market conditions before trading live accounts. - Forex Trading EA/Robot is just a piece of Programming to Sophisticate your trading but never guarantee your winning.
- Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. No representation is being made that any account will or is likely to achieve profits or losses similar to those that may be shown.
- Past performance is not indicative of future results. Individual results vary and no representation is made that clients will or are likely to achieve profits or incur losses comparable to those that may be shown.
- Before deciding to trade products, you should carefully consider your objectives, financial situation, needs, and level of experience. The possibility exists that you could sustain a loss of some or all your deposited funds and therefore, you should not speculate with capital that you cannot afford to lose.