Rebate System MT5

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Rebate System MT5 makes a large number of transactions with a minimum profit, which makes it possible to earn money by obtaining a rebate (returning a part of the spread).

In the basis there are two grids (for purchase and for sale), if one of them is in a drawdown, the other one can enter with an increased lot keeping the account from the drawdown.

It has a news filter that allows you to avoid a possible hit on the recoilless trend caused by the news.

‌Standard parameters for EURUSD and a minimum deposit of 3000 units of the base currency ( cent for cent accounts, $ for classical)

Rebate System MT5 Parameters

  • StopAfterTP – stop trading after all grids are closed;
  • TF_FirstOrder – period for opening the first grid orders;
  • TF_SeriesOrder – period for opening averaging orders;
  • Lot – lot size;
  • TakeProfit – take profit;
  • StepNextOrder – the minimum allowable distance between grid orders;
  • LotMultiply – the value by which the lot of the current open grid order will be multiplied;
  • MaxTrades – the maximum number of orders in the grid.

Breakeven parameters

  • BE – number series – the order number in the series after which the stop loss will be placed;
  • BE – start after point – the number of profit points after which the stop loss will be placed;
  • BE – distance point – the distance from the breakeven of the series at which the stop loss will be set.

Locale Settings

  • Lock – number series – the number of the order in the series after which the opposite network will increase the locking lot;
  • Lock -% lots grid – locking percentage, lot size as a percentage of the amount of the opposite network;
  • Lock – max lot – the maximum lot of the first order of locking.

Other options

  • slippage – slippage;
  • MagicNumberSell – identification number for sales;
  • MagicNumberBuy – identification number for purchases;
  • UpdateSecond is a timer for checking set take profits and stop losses.

News filter options

  • News Filter – a list with a choice of values:
    • High – filter news with high importance;
    • High & Medium – filter news with high and medium importance;
    • High, Medium & Low – filter news with any importance;
    • OFF – do not use news filter.
  • News hour range – how many hours before and after the news does not open new deals.

To use the news filter, add the following addresses:

  • http://www.forexfactory.com
  • https://cdn-nfs.forexfactory.net
  • http://ec.forexprostools.com

to the list of allowed URLs on the ‘Expert Advisors' tab

Visualization options

  • Color_BE_buy – color of the breakeven level for purchases;
  • Color_BE_sell – color of the breakeven level for sales.
The parameters in for four-digit quotes on five-digit will be multiplied by 10
  1. 1). If I subscribe for a small VPS, will I then have access to the EAs listed?
    2). Can I use the EA with any broker?
    3). Which broker advised by you can support MT5 ?

    • Hello Alf,

      1.) You need a VPS with the Forex Tools Addon to access the EAs
      2) Yes, you can use the EAs with any broker.
      3) I personally trade with IC Markets since years now. I am very happy with them. They support MT5, too.

  2. Hi Chris,
    Another related question:
    I can see you have Rebate System EA for both MT4 and MT5.
    Is the MT5 version EA results much better than MT4 version EA in your test or knowledge?
    If the 2 versions trades quite equal, I may be easier for me to use MT4 that I am used to?

    Best regards
    Erik

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