The Time-of-Day Exit lets you flatten any open position at a scheduled GMT time, with per-weekday on/off and an optional profit-only mode. It fires within a five-minute window after the target and at most once per day, which means restarting the EA inside the window won’t retro-trigger an exit on a position that survived it. Useful for traders who want positions closed before a particular session’s close regardless of where SL or TP sit.
Two new trailing-stop systems join the legacy ATR trail. The Chandelier Exit follows Chuck LeBeau’s classic formula — HighestHigh(N) minus ATR times a multiplier for longs, mirror for shorts — ratchets one-way, and respects the broker’s stop level. The Parabolic SAR Trail uses MT5’s built-in SAR as the trailing-stop level, which gives a tighter trail than Chandelier in fast-extending trends and a looser one in chop. Both activate at a configurable percentage of TP-distance reached and only modify SL in the trade’s favor. Enable exactly one at a time; the EA prints a warning on init if you forget.
The Profit Target Ladder is the change I’m happiest with. It scales out at +1R, +2R, and +3R, where R is the initial stop-loss distance captured at entry. Because R is captured at entry rather than recomputed each tick, the ladder behaves identically whether you’re running fixed or ATR SL/TP. Each rung closes a configurable percentage of the original lot, and you can optionally ratchet SL to break-even after the R1 hit and to +1R after the R2 hit. Disable the legacy partial close when using it; the EA will warn you if both are on.
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FIXES — READ THIS BEFORE GOING LIVE
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The most important one: every module that triggers at a percentage of TP-distance reached — adaptive TP, the MACD and stochastic profit locks, the ATR trail’s activation — now reads the live tpPrice from the open position instead of the static InpTakeProfitPips input. In fixed mode the two are identical, so nothing changes. In ATR mode they diverged badly: modules were arming at percentages of a value that didn’t match the real take-profit. If you have backtests in ATR mode from v70 or earlier, redo them before going live on v71.
The other three are smaller. The journal toggle is now actually toggleable from the inputs dialog (it was fixed at compile time before, which was an oversight). The manual reset for consecutive-loss protection is now edge-triggered, meaning it fires once when you flip it from false to true and ignores being held on — previously it could re-fire on every tick if you forgot to clear it. And the historical consecutive-loss verifier now correctly filters to exit deals only, where before it was counting entry deals as zero-profit losses and could falsely inflate the streak counter after a quiet period.
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FOR NEWER CUSTOMERS — WHAT THE EA DOES
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If you bought recently or haven’t gone through every module yet, here’s the full surface in plain prose.
On the entry side, the EA combines a multi-bar candlestick pattern engine with a pinbar detector — either can trigger a signal — and then subjects the candidate to a confirmation stack of ADX, RSI, and an EMA pair, with optional further filters on a second EMA pair, the Awesome Oscillator, and CCI. Stop-loss and take-profit can be set as fixed pips or derived from current ATR with min/max clamping on both sides.
Once a trade is open, a fixed sequence of management modules runs on every tick. The MACD and stochastic profit locks watch for momentum reversal once the trade is meaningfully into profit and move SL to lock in a configurable minimum. The profit-target ladder and the legacy partial close handle scale-out exits. The adaptive TP module relocates take-profit closer to entry when a trade goes into significant loss, giving it a chance to scratch on retracement rather than running all the way to full loss. A time-based exit closes positions that haven’t worked in their first few hours. Then one of three trailing systems (ATR legacy, Chandelier, or SAR) ratchets SL upward. After that, indicator-based emergency exits handle capitulation and momentum-failure cases — RSI loss exit on capitulation, MACD cross exit on adverse signal-line cross in loss, RSI profit exit at exhaustion levels, ADX profit exit on trend collapse. Break-even SL is the last step.
Risk management runs on two layers. At the position level, sizing is either fixed lot or risk-based as a percentage of equity divided by SL distance, with a hard ceiling on the calculated lot size. At the campaign level, a consecutive-loss circuit breaker tracks both a live counter and a 7-day historical counter and pauses the EA for a configurable cooldown after N losses in a row.
The schedule and filter layer is where the EA refuses to trade. It supports four session toggles (Asian, London, NY, Sydney, all GMT), a custom-hours override, a session-overlap-only mode, lunch-hour avoidance, a calendar-free news-avoidance window built around typical macro release times, a monthly allow-list, a Friday auto-close scheduler, the new Time-of-Day Exit, and once-per-bar entry gating. Layered together, these are the EA’s primary defense against trading in bad conditions — the default configuration enables most of them.
Operationally, the EA is magic-number scoped so you can run multiple instances on one account with distinct magic numbers, supports a configurable trade comment, applies a pip-based spread filter on every tick, and auto-detects 5-digit and 3-digit symbols for correct pip math. The verbose journal mode is useful for tuning; turn it off in production once you trust your configuration.
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DOCUMENTATION
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The manual was rewritten for v71. It’s in your library in three formats — PDF, Word, and a single-file HTML version with an interactive parameter explorer. There’s a new chapter on the EA’s design philosophy that I’d suggest reading first. It explains the principle the whole system is built around (strict on entry, generous on exit), and once you have that mental model the rest of the manual is much easier to navigate.
If you upgrade and anything behaves unexpectedly, just reply to this email. I read every message.
Take care,
Botond
NomadTradingFX
nomadforexrobots.com