EurUsd Sniper Limited Expert Advisor
- Experts
- Benjamin Patri
- Version: 1.0
The Automated EA program trades only the EURUSD currency using signals from three currency pairs at the same time. The program is a fully automatic program requiring no user interaction once set up on a chart of choice. The program closes the trade once the Profit Target in Overall Pips is met or when specially designed closing conditions are met.
Due to the nature of the strategy used to trade where three currency pairs are used as signals to determine when to trade, please note that this program cannot be backtested using the strategy tester since only one pair of data can be backtested at a time. Backtesting was performed by the author with a self-written program using real tick data for all three default pairs: AUDUSD, EURUSD, and EURAUD. Results may vary based on broker fees and other market conditions. Due to the nature of the EA algorithmic calculations, the program is designed to be as efficient as possible thus you will not see a flashy display on the chart.
Please test for a minimum of 2-4 weeks before reviewing or upgrading, this EA should trade on average of 10-50 trades a week but also depends on broker and settings used. Please try multiple brokers to find best results. A broker with low spreads is ideal. The Limited Version has protections to prevent abuse. It is only meant to be used as a way to test out the Premium Version. Don't have multiple EAs trading the EURUSD pair on the same account or you may encounter issues.
Parameters (Some parameters are only for Premium Version)
- EAcom - note made on each trade to identify trades.
- Magic - magic number to identify trades by EA
- MaxOrders - Maximum Number of orders than can be open at one time, Minimum of 1, Maximum of 5. Recommend 2. Will open 1 at a time and open more if trade is still open if more signals are seen after TickCountSpacing Time period.
- FixedLotSize - fixed lot size per each pair in a trade.
- ClosePipProfit - Target in Pips to Close Trade in Profit.
- ClosePipLoss - Target in Pips for worst case Trade in Loss. (Negative Number Needed Here).
- TickCountSpacing - Minimum number of ticks between non-winning trades.
- SignalStrength - Recommended range of 0-10, higher value = stronger signal and less trades.
- AutoTrade - Set to True to have EA trade.
- Pair1 - name of EURAUD. Must match chart name if you have a prefix or suffix.
- Pair2 - name of AUDUSD. Must match chart name if you have a prefix or suffix.
- Pair3 - name of EURUSD. Must match chart name if you have a prefix or suffix.
Additional Protections Built into the Program Include
- A hard TP and SL price are set with each trade opened in the event of very large market swings or loss of connection with the broker’s server.
- When losses occur, the EA will delay between trades if market is taking wild swings.
Recommendations on Usage
- Run on the chart that has the most ticks, the EURAUD chart will generally see more ticks than the other pairs. Run Either on EURAUD or EURUSD chart.
- A timeframe does not matter, the EA uses ticks to trade.
- Start Risk small to watch program in action and determine if broker you are using will be profitable.
- Keep Risk low to protect your account from drawdown.
- Do not close trades over weekend as profit can be lost.
- Low spreads, low commission and high quality execution will help earn more profit.
- Minimum of $200 USD deposit on account to run.
- Run EA on its own account as it will use a large amount of margin per trade based on risk.
- Do not have any other trades open on the account while using this EA to avoid conflicts.
To My Customers
Please don’t hesitate to message me or post about any questions that you might have, I will be happy to help.
Author
Benjamin Patri – Programming expert in development, design, and optimization of automated trading programs with more than 15 years of Forex Experience.
