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EA Frankenstein is an MT5 expert advisor that combines a price channel approach with an adaptive grid, designed for the M5 chart. It includes a news filter and an on-chart trade panel.
Get one message the moment it launches, with its price.
EA Frankenstein is an automated trading tool for MetaTrader 5 that places trades using price channel levels and manages them with a grid. It is built to run on the M5 chart and includes a news filter and a trade panel.
The expert advisor looks at a price channel, treating the upper and lower boundaries as areas of support and resistance. When price reaches those areas it can open a position, and if the market moves against that position it adds further orders at set distances, forming a grid. The grid spacing and the take profit level are described as adaptive, meaning they change according to the behaviour of the symbol being traded instead of using one fixed value for every pair.
Grid systems can recover from small adverse moves, but they also hold several positions at once and can build large floating losses in a strong trend. Treat the drawdown as a central part of your risk planning.
A panel on the chart lets you view and manage open trades without leaving the chart, which is useful when you run the tool on more than one symbol.
The built-in filter reads an online economic calendar so the expert advisor can pause around scheduled releases. It needs a WebRequest permission to download the data (see Installation).
The adaptive logic is intended to remove the need for a separate set file. The exact list of inputs can differ between releases, so open the inputs tab after attaching the tool and read each description. Typical areas to check are shown below.
| Area | What to check |
|---|---|
| Lot size | Match it to your balance; the developer suggests about 1,000 to 1,500 USD per 0.01 lot |
| News filter | Enabled or disabled, and the impact levels it reacts to |
| Grid limits | Maximum number of orders, if offered |
| Magic number | Keep it distinct if you run other expert advisors |
Trading carries risk, and past results do not predict future ones. Grid strategies can accumulate several open positions during a prolonged move. Test on a demo account first, use money you can afford to lose and never rely on a single tool.
| Product type | Expert Advisor |
|---|---|
| Platform | MetaTrader 5 (MT5) |
| Strategy focus | Grid, Support and resistance |
| Delivery | Download from your account after purchase |
| License key | Not needed |
| Status | Launching soon |
| Category | Expert advisor (automated trading) |
| Trade style | Grid with support and resistance (price channel) logic |
| Timeframe | M5 only |
| Markets | Forex, mainly USD pairs; news filter covers other pairs |
| Extras | Trade panel, news filter, adaptive take profit and grid distance |
| Requirements | Algo trading enabled and WebRequest URL allowed for the news filter |
| Capital guidance | Developer suggests about 1,000 to 1,500 USD per 0.01 lot; check before use |
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The expert advisor is designed for the M5 chart. Attach it to an M5 chart of each symbol you want to trade rather than to other timeframes.
No. This version is built for MetaTrader 5 and will not run on MT4. Make sure your broker offers an MT5 account before buying.
Open Tools, then Options, then the Expert Advisors tab. Tick the option to allow WebRequest for listed URLs and add calendar.fxstreet.com to the list. Without this entry the filter cannot download calendar data.
The adaptive take profit and grid distance are meant to adjust to each symbol, so a separate set file should not be required. Still, review the input parameters on your own account and test on a demo first.
The developer's guidance points to roughly 1,000 to 1,500 USD for each 0.01 lot of trading size. Your broker, leverage and chosen lot size all matter, so test on a demo account and size positions conservatively.
Yes, you attach the expert advisor to a separate M5 chart for each pair. Keep in mind that several grids open at once increase combined exposure and margin use.
EA Frankenstein
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