The Viper EA MT4 v2.2

The Viper EA uses sharp and effective “mean reversion” entries during the ranging period of the trading sessions (between 23h and 1h GMT+2, US DST).

These trades already have a very high succesrate, but if the market turns against the position, the EA will initialize its trademark recovery mode.

The recovery algorithm will try to convert every unsuccesfull first entry into a profitable result.

Setup:

• The EA does not require any setfile to run.  All pairs are pre-optimized and settings are stored internally.
• Simply run the EA on a EURUSD M15 chart, and then in the parameters: enable the OneChartSetup and set the pairs you wish to use.
• Either choose fixed lotsize (AutoLotMode = use StartLots) or automatic lotsize based on balance/equity (AutoLotMode = use LotsizeStep).
• When using all 20 pairs -> Low risk (DD up to 15%): use LotsizeStep=2000 and minimum 2000$ balance; Medium Risk (DD up to 30%): use LotsizeStep=1000 and minimum 1000$ balance ; High Risk (DD up to 60%): use LotsizeStep=500 and minimum 500$ balance.  These value are based on USD.  If you are using a different base currency on your accounts, please convert these values first.
• You can also run on smaller account (minimum 150$ recommended when running max 4 low risk pairs) if you select only a few pairs to trade.
• When using less pairs, it is best to do the backtest on MT5 to determine the max drawdown, and based on that, set your LotsizeStep accordingly.