Description

New York Open Momentum Drive EA

Short Tagline: A session momentum strategy that trades the directional drive following the New York se…

Short Description:
New York Open Momentum Drive EA is a fully automated session momentum / intraday. Expert Advisor for MT4 and MT5. A session momentum strategy that trades the directional drive following the New York session open. Built-in risk controls and market filters keep execution disciplined across live and demo accounts.

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Overview

A session momentum strategy that trades the directional drive following the New York session open. It gauges the pre-open bias and joins the momentum surge when US liquidity enters, targeting the intraday expansion during the NY session.

Features

• Session open reference (NY open price)
• EMA20 (micro momentum)
• ATR(14), VWAP (optional bias)
• Configurable stop-loss, take-profit, and trailing logic
• Session, spread, and news-time filters for disciplined execution
• One-trade-per-bar / duplicate-signal protection
• Clean, single-file MQL4 and MQL5 implementations
• No hidden logic — every input is exposed and documented
• No martingale, no grid, no hidden recovery logic

Trading Strategy

Entry logic: – At NY open, establish bias: price relative to VWAP/opening price and EMA20 slope.

• Long: within the first 30-60 minutes of NY open, price holds above the open and pulls back to EMA20, then resumes up. Enter on the resumption candle.
• Short: mirror when price holds below the open.

Exit logic: – Exit on EMA20 momentum loss (close beyond EMA20 against position) or at session mid; flat before NY close.

Stop-loss: SL below the last micro swing (long) / above (short) or 1.2 × ATR.

Take-profit: TP at 2R or the daily ATR projection from the open; scale 50% at 1R.

Trailing stop: Trail under EMA20 on M5 as the drive continues.

Break-even: Break-even at 0.8R (fast intraday).

Why it works: Exploits a reliable daily momentum window.; Clear, time-boxed operation..

Recommended Settings

• Timeframes: M5, M15.
• Instruments: US30, NAS100, US500, EURUSD, USDJPY.
• Account type: ECN/Raw spread accounts preferred
• Minimum recommended balance: $500+ (adjust lot sizing to your risk tolerance)
• VPS: Recommended for 24/5 uptime and consistent execution
• Risk management: Risk 0.75% per trade. Max 2 open. No new entries after the first NY hour.

Supported Markets

Index CFDs and USD forex pairs most active during New York hours.

Supported Brokers

Compatible with any regulated MT4 or MT5 broker offering standard order execution (market or instant execution). Works with ECN, STP, and standard account types. No broker-specific dependencies.

Installation Guide

1. Download the .ex4 (MT4) or .ex5 (MT5) file from your purchase delivery.
2. Open MetaTrader, go to File → Open Data Folder.
3. Copy the file into MQL4/Experts (MT4) or MQL5/Experts (MT5).
4. Restart MetaTrader or right-click Expert Advisors in the Navigator and select Refresh.
5. Drag the EA onto the chart of your chosen symbol and timeframe.
6. Enable Allow live trading (and Allow DLL imports if prompted) in the Common tab.
7. Adjust inputs to match your risk profile, then click OK.
8. Confirm AutoTrading is enabled in the toolbar.

• Session filter: Core mechanism — only trade the NY open window; flat by NY close.
• Spread filter: Reject if spread > 1.5 index points / 1.5 pips FX.
• News filter: Many US releases hit near NY open; avoid entries 5 minutes around scheduled data, then trade the resolved direction.
• Volatility filter: Require opening-hour range/ATR above a minimum so the drive has momentum.

Risk Disclaimer

Trading forex and CFDs carries a high level of risk and may not be suitable for all investors. Past performance, backtest results, and simulated outcomes are not indicative of future results. This EA does not guarantee profits. Always test thoroughly on a demo account before deploying real capital, and never risk funds you cannot afford to lose.

Version

v1.0.0

Support

Support is provided through the marketplace messaging system. Please include your broker, symbol, timeframe, and EA version when reporting an issue.

Updates

Free updates are provided for bug fixes and compatibility improvements. Feature updates may be released as versioned upgrades.

FAQ

Q: Does this EA work on both MT4 and MT5?
A: Yes, separate optimized builds are provided for each platform.

Q: Can I run this on multiple pairs at once?
A: Yes, attach separate instances to separate chart/symbol combinations.

Q: Does it use martingale or grid recovery?
A: No. This is a pure signal-based strategy with defined risk per trade.

Q: What timeframe works best?
A: M5, M15. for the cleanest signals, but the EA can run on other timeframes with adjusted inputs.

Q: Is a VPS required?
A: Not required, but strongly recommended for uninterrupted 24/5 operation.