EA White Lotus represents an MT4 trading robot that works with the well-known MetaTrader 4 (MT4) interface. The robot employs advanced algorithms and technical indicators to find potential trading setups and automatically perform trade executions on your behalf.
It weighs on trading major FX pairs in the short term. Vitali Vasilenka, a Belarussian, is the man behind this Forex expert adviser. He also has several EAs on MQL5, including the EA Quantum Lab, EA Thomas, and EA Flower.
The White Lotus trading robot is designed to work on multiple currency pairs, allowing traders to diversify their trading portfolios and control the risks. It uses a combination of trend-following and mean-reversion strategies to identify potential trades. This approach helps to ensure that the robot can adapt to changing market conditions.
This guide will explain how the EA White Lotus works for forex traders, including its key features and MT4 settings.
EA White Lotus Strategy
The EA White Lotus doesn’t employ risky strategies such as martingale, griding, doubling, and averaging. It works in a night scalper mode that trades at night using neural networks. This built-in feature enables the EA to track financial news from governments and banks. It can suspend all pending orders and stop looking for new orders depending on the sensitivity level of the data release.
According to its developer, M5 is the most suitable timeframe for the EA. However, you can apply it on other timeframes lower than hourly charts. Whichever timeframe you choose, make sure the EA White Lotus trading mode, buy-sell entry, stop-loss, and take-profit parameters match your trading requirements.
EA White Lotus Features
- Works in Night Scalper mode.
- Determines short-term trading opportunities.
- Can open up to 3 consecutive orders.
- Advanced trading algorithms.
- Can work under custom trading schedules.
- Working timeframe: M5.
- Supports ECN trading using MT4.
- Includes mobile trading assistant.
- Applies news filter for tracking economic events.
EA White Lotus MT4 Settings
- Money Management – Enable/disable the money management feature.
- Risk – Set the risk factor for the EA.
- Original Lot – Default trading lot size.
- Orders Buy – Maximum number of buy orders at a time.
- Orders Sell – Maximum number of sell orders at a time.
- Step – Input the EA step value.
- Take Profit Close – Maximum risk-to-reward ratio for closing an order.
- Stop Loss – Maximum stop-loss limit.
- Take Profit – Default take-profit targets.
- Max Spread Open – Maximum spreads to be considered while opening an order.
- Magic – Set the magic number for the EA.
- Start Hour – The hour when the EA will be automatically launched.
- Stop Hour – The time when the EA will stop trading.
EA White Lotus Summary
EA White Lotus is a completely automated forex trading robot that is well-known for avoiding quick-profit or risky trading strategies. It can determine the “no trading” periods of the market based on its market volatility and sentiment assessments. However, its developer didn’t mention how the EA assesses the market sentiment while considering an entry. So, try the EA White Lotus in demo accounts first and adjust its settings based on your trading style and strategies.
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