# Legacy Merlin EA

Automated trend-following system that trades on trend reversals and wraps positions in risk and trade-management layers.

Canonical: https://prismaticalgos.com/compendium/algo/8901-legacy-merlin-ea
Record ID: 8901
Catalog rank: 2833 (reading order, not performance)
Snapshot: 2026-10-31 15:46 UTC
Family: Trade & Execution Management (K)
Source: https://www.mql5.com/en/market/product/180942
Evidence label (unverified): backtest_shown

## Scope and limitations

These are machine-extracted research records, not verified trading systems. Catalog rank measures specification detail and claimed evidence, not profitability. The catalog extraction pipeline did not independently backtest these records. Its separate selected testing ledger does not validate the wider corpus. Rules, labels and parameters can be incomplete or wrong; consult the original source and its reuse terms.

No endorsement, ownership claim or source-code reuse permission is implied.

## Extraction warnings

Opacity warnings: UNDEFINED ENTRY TERM: the entry conditions are prose naming a concept with no numeric definition, so two readers would implement them differently. Advisory only -- this does not affect the score.

## Recorded profile

- symbols: any
- timeframes: M15
- sessions: any
- market_regime: trending

## Indicators

No indicator stack recorded.

## Recorded long-entry rules

- trend flips

## Recorded short-entry rules

- trend flips

## Recorded exit rules

- Break-Even Once a position reaches your chosen profit threshold
- Trailing Stop with Step Follows price at a fixed distance
- Partial Close Optionally bank a chosen % of the position once a profit target in points is reached

## Recorded filters

- Spread Filter
- Time / Session Filter
- Daily Risk Limits

## Risk controls

- Stop loss: not explicitly stated
- Take profit: not explicitly stated
- Position sizing: Fixed lot — trade a constant volume you define, or Risk-based sizing — the EA calculates lot size automatically from a chosen % of account balance and your Stop Loss distance