FairTradeEA is a safe MetaТrader 4 trading robot working autonomously on a VPS server or on your computer. The good results are achieved on EURUSD and other volatile pairs, but it can work with all pairs.
The Expert Advisor is designed for normal operation and for taking rebates, as well as mainly for taking rebates, though it can still boost your deposit. Rebate means returning of a spread by a broker or a rebate service.
The EA trades only market orders.
At the start, the EA opens two differently directed BUY and SELL market orders having the same lot size. At the distance of Step1 points, the third market order with the same lot size is opened at the direction of the price movement.
Then, the position is reversed from the third order at the distance of Step2 points with a lot increase.
The EA provides two lot increase versions:
- adding a specified value to the previous order's lot;
- multiplying a previous lot by the ratio.
Order close level by profit: breakeven level based on a series of orders + Profit in points. The EA can cover opposite orders to save spread.
For ease of perception, the EA draws two lines:
- order series' breakeven level;
- profitable order series' close level.
You can also set a pause in minutes between order series.
To work correctly, the EA requires varied types of accounts or ECN (Market Execution) with the spread from 0 to 3.5 points (0-35 points for the 5-digit quotes), quotes with 5 (4) decimal places, and with normal execution of orders, the leverage from 1:500 (the recommended value is higher than 1:2 000), timeframe M15 and M30 (recommended).
Below is the description of the settings, that provide the ability to choose the EA operation mode:
- Lot – select a lot size
- Profitin points – total profit from order series in points
- Step to the 3td order – difference between the first two orders, at which the third order
- Step for the following orders – amount of points, at which orders after the third one are opened
- Magic1 – magic number for buy orders
- Magic2 – magic number for sell orders
- A pause in minutes between the series – interval between operation cycles
- Slip – slippage
- Martin – select lot increase mode (adding or multiplying)
- Lotexp – lot increase when adding
- Kf – lot increase when multiplying
- Tralling – enable/disable trailing the last order of the series
- Trailing Stop – parameter of order trailing stop
- Trailing stеp – order trailing stop step
- Line profit – profit line, color can be changed
- Line breakeven – breakeven line, color can be changed
Tips on Improving the Results
- To improve the operation result, you can select two parameters, that affect the profit. These are Adding (non-aggressive trading, small profit, drawdown up to 30%) and multiplying (non-aggressive and aggressive trading, much higher profit, drawdown depends on a multiplier ratio: minimum - 1.2, maximum - 2 and higher, up to 80%).
- Apart from EURUSD, other currency pairs may be added.
Please note that the higher the profit, the higher the risk!
Tips on Risk Mitigation
- When working for rebates, use Adding (test1) and Multiplying (test2) methods with the small ratio
- If the robot is set on multiple charts, then the Magic1 and 2 should be changed
- Set Pause to a value higher than 5.
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