Introduction
EA Diamond is an advanced automated trading system designed to enhance trading efficiency by integrating multiple expert advisors. With a rating of 4.4 and numerous positive reviews, it promises high performance by analyzing price chart data, news, current spreads, time, and day of the week. However, as with any trading system, it’s essential to approach it with a healthy dose of skepticism and thorough testing.
Installation and Setup
Setting up EA Diamond is relatively straightforward, but attention to detail is crucial. Here’s a step-by-step guide:
- Download the EA Diamond file from the MQL5 marketplace.
- Open your MetaTrader 5 platform and navigate to the “File” menu, then select “Open Data Folder”.
- Place the EA Diamond file in the “Experts” folder.
- Restart MetaTrader 5.
- Attach EA Diamond to the chart of one of the recommended trading pairs: EURUSD, GBPUSD, or USDJPY on an H1 timeframe.
- Load the suitable .set file provided by the developer.
- Set your broker’s GMT value in the ServerGmt parameter.
- Enable live trading by turning on the AutoTrading button at the top panel of your MetaTrader terminal.
Experience Using EA Diamond
In my experience, EA Diamond performs well under normal market conditions. The adaptive algorithm is quite effective in analyzing various market factors, ensuring that trades are executed at optimal moments. However, during periods of extreme market volatility, the EA can struggle, leading to significant drawdowns. This is a common issue with many automated trading systems, so it’s not entirely surprising.
User reviews are generally positive. For instance, danielplotzke mentioned, “This EA is the most thought-out EA I have ever used, and I have used a lot of them. The logic behind this EA is just amazing. Very precise and so profitable.” Another user, andersondf1227, reported consistent monthly profits, stating, “I got an average of 5% per month on EURUSD.”
Tips for Improvement
To maximize the effectiveness of EA Diamond, consider the following tips:
- Perform thorough backtesting before committing significant funds. This will help you understand how the EA behaves under various market conditions.
- Use a low spreads ECN account to ensure efficient trade execution.
- Keep your risk management settings conservative. A risk percentage of 1-1.5% per trade is recommended.
- Regularly update the news filter settings to avoid trading during high-impact news events.
- Monitor the EA’s performance and make adjustments as necessary. No trading system is set-and-forget.
Source Code of EA Diamond
We don’t have access to the original source code of EA Diamond sold on MQL5. However, based on the description provided on the MQL5 marketplace, we have created a sample code that mimics its functionality. This code is available for educational purposes and can be customized to suit your trading needs. If you have any questions about the code, feel free to ask.
Code:
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For those interested in exploring EA Diamond further, you can download the robot from the MQL5 marketplace. Remember, the EASY Trading Team does not sell EA Diamond; we have simply created a code based on its description. Visit our website for more details and to share your experiences with EA Diamond.