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Forex Diamond EA is an MT5 expert advisor that runs three separate strategies: trend-retrace signals, countertrend entries and countertrend scalping. It is aimed at M15 charts on major forex pairs and includes spread, slippage and drawdown filters.
Get one message the moment it launches, with its price.
Forex Diamond EA is a fully automated expert advisor for MetaTrader 5. It combines three trading approaches in one program: a trend-retrace signal strategy, a countertrend strategy and a countertrend scalping strategy. It is designed to run on the M15 chart of a small group of major forex pairs.
The three strategies operate independently, so the EA can be active in different market conditions. Here is what each one is meant to do.
Stop loss and take profit levels are calculated dynamically rather than fixed in pips. The EA also offers several protective features: filters for spread and slippage, a profit protection system, a drawdown protection system, a randomisation option for execution and a time management system for limiting when it trades.
The author recommends the M15 timeframe and these pairs: GBPUSD, EURUSD, USDCHF and USDJPY. The default settings are described as suitable for all of them. If you want to try other symbols, do that on a demo account first and compare spreads and execution with your broker.
Only a few inputs need attention at the start. The table below covers the ones that matter most; open the input tab in MetaTrader 5 to see the full list and the exact options for each.
| Input | Purpose |
|---|---|
| LongTrades | Turns buy trades on or off. |
| ShortTrades | Turns sell trades on or off. |
| AutoGMT_Offset | Detects the broker's GMT offset automatically. Set it to false only if you want to enter the offset yourself. |
| ManualGMT_Offset | The broker's winter GMT offset, used when automatic detection is off and in backtests. |
| DST_Usage | Controls how the EA handles daylight saving changes in broker time. Check its options in the input tab. |
A wrong GMT offset can lead to unexpected results, so confirm your broker's server time before running a backtest or going live. Lot size, risk level and protection thresholds should also be reviewed against your account size; check the input tab rather than assuming a minimum deposit.
For a quick test, use M1 data with open prices only. For a more realistic model, use M15 with every-tick data. Results depend heavily on the quality of your history data and on broker conditions such as spread and execution speed.
Trading leveraged products carries a high level of risk, and you can lose more than you expect. Drawdown protection and other filters reduce certain risks but do not remove them. Past results, including backtests and signal histories, do not predict future ones. Test on a demo account first and only trade with money you can afford to lose.
Keep the terminal running without interruption, ideally on a VPS, so the EA can manage open trades.
| Product type | Expert Advisor |
|---|---|
| Platform | MetaTrader 5 (a separate MT4 edition exists) |
| Strategy focus | Signals, Trend, Support and resistance |
| Delivery | Download from your account after purchase |
| License key | Not needed |
| Status | Launching soon |
| Category | Expert advisor (fully automated) |
| Strategies | Trend-retrace signals, countertrend, countertrend scalping |
| Suggested timeframe | M15 |
| Suggested pairs | GBPUSD, EURUSD, USDCHF, USDJPY |
| Protections | Spread, slippage, profit, drawdown, time management |
| Requirements | Algo trading enabled, stable connection or VPS |
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No. This listing is the MT5 edition and will only run in MetaTrader 5. The author also publishes an MT4 edition as a separate product, so check that you are buying the one that matches your platform.
The author recommends the M15 timeframe on GBPUSD, EURUSD, USDCHF and USDJPY, using the default settings. Other symbols are untested by the author, so test them yourself on a demo account before using real money.
The default settings are described as the intended configuration for the supported pairs. The GMT offset and daylight saving options matter most, especially in backtests, because a wrong value can change when the EA trades. Confirm your broker's server time before you start.
The EA has drawdown protection and a randomisation option, which some users find helpful. However, every firm sets its own rules on automated trading, so read your firm's terms first. No setting removes the risk of breaching a limit.
For a quick check, use M1 data with open prices. For a more accurate model, use M15 with every-tick data. Backtests depend on data quality and broker conditions, and past results do not predict future ones.
It is not strictly required, but the EA needs MetaTrader 5 to stay open and connected while it manages trades. A VPS is a common way to achieve that without interruptions.
Forex Diamond EA MT5
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