Power EURGBP
- Experts
- Version: 1.2
- Updated: 20 September 2023
- Activations: 20
Expert Power EURGBP is an automated trading robot programmed specifically for the EURGBP currency pair. The EA applies almost the same strategy as the EAs Power of EURUSD and Power GBPUSD. The EA applies a multi-timeframe and multi-MA analysis strategy of multiple currency pairs to determine the strength of the EUR and the strength of the GBP. From there, determine the strength correlation and create trading signals.
+ The strength of EUR is based on the correlation of 6 currency pairs with EUR: EURAUD, EURCAD, EURCHF, EURJPY, EURNZD, EURUSD.
+ The strength of GBP is based on the correlation of 6 currency pairs with GBP: GBPAUD, GBPCAD, GBPCHF, GBPNZD, GBPJPY, GBPUSD.
The strength of each coin is a reliable factor in determining the direction of the next move of the price. Combined with the price averaging DCA strategy to manage positions, when positions are reinforced by the strength of the currency, floating positions have a high chance of returning to the breakeven point with profits.
Because the EA's complex strategy requires data of 13 currency pairs and 3 timeframes simultaneously, MT4 cannot simulate this strategy when backtesting. The backtest results also do not show how the EA works, because the MT4 backtest cannot simulate multiple currency pairs and multiple timeframes at the same time.
Settings:
| Suffix | not set if there are no extended characters in name EURGBP If the pair name is in the form EURGBP.x : set Suffix = .x (.x is suffix, extended) |
| Max Spread | = 25 to 30 (Must be higher than the average spread of the currency pair) |
| Fixed Lot | = 0.0 (activated Auto Lot); Fixed Lot > 0 (your manual lot size) |
| Auto Lot | = 1.0 to 3.0 (= 1 mean auto lot size = 1 lots per $100,000 balance, or 0.01 lots per $1,000 balance...) |
| Trailing | = 10 (points) |
| Stop Loss | = 0 (points, = 0 means No SL) |
| Max Drawdown % | = 0 (%, = 0 means not use) |
| Slippage | = 6 |
| Magic Number | = your number |
* If you set Fixed Lot > 0, the EA will trade with Lot Size = Fixed Lot (if Fixed Lot is a valid lot size).
* If you set Fixed Lot = 0 and Auto Lot > 0, the EA will calculate the Lot Size according to the value of Auto Lot.
Recommend:
Use EA with EURGBP. If the EURGBP currency pair has extended characters, you need to enter the expansion character in the Prefix or Suffix parameter as follows:
+ If the currency pair name is in the form EURGBP.x : set Suffix = .x
+ If the currency pair name is EURGBP without the extension character, do not install Prefix and Suffix.
Time frame: M5. Use VPS with low latency (<20ms).
Use EA with ECN or Raw spread accounts and allow hedging. Min Balance: $ 500
Stops Level = 0 (check the Stops Level by: Press Ctrl + U, select currency pair, click Properties and Stops Level on the 3rd line)
Note: The backtest results only show trading of 1 time frame and no confirmation of multi currency pairs, while the EA analyzes multiple time frames and currency pairs. So you should experiment with demo account or 0.01 lot first to be able to control the risk and get a more accurate assessment of the performance of this EA.
