Currency Strength Basket Trader 28 Pair
The Automated EA program trades a basket of multiple currency pairs at the same time on the same account. A total of 28 currency pairs can be traded with this program. Only the Currency Pairs that are set in the Input Settings are to be traded. The strategy is based on trading currency pairs that are found to have extreme bias in overall strength between the two currencies in a pair. When one currency is strong and another currency is weak, the resulting currency pair will trade in the direction of the strong currency. The program is a fully automatic program requiring no user interaction once set up on a chart of choice. The program will open trades only when a strong signal exists between currencies. The program closes the basket of trades once the Overall Profit Target is met. The program is able to open and close any pair as needed when specific conditions are met. The program also allows manually closing of trades if automation is not desired.
By having multiple smaller trades open at the same time in a partially hedged formation, a user is better protected by market fluctuations. Trade open time will vary up to days with this program. It is recommended to pick a broker with low spreads and fast execution as they will play a role in both number of trades taken and profit earned.
Due to the nature of the strategy used to trade where multiple currency pairs are traded at once, please note that this program cannot be backtested using the strategy tester since you can only backtest one pair of data at a time. Results may vary based on broker fees and other market conditions.
- EAcom – Comment for each trade.
- Magic – Magic Number for Pair 1, each Pair will get a number of Magic+X-1.
- MagicEnabled – If true, will only count profit of trades opened by EA, false will count profit for any open trades.
- MaxAccountInTrade - maximum percentage of account margin in a basket trade.
- MaxLotSize - maximum lot size per currency pair order.
- ProfitGainClosePerTrade - profit to hit per trade open. Total Profit to Close = Open Trades x ProfitGainClosePerTrade.
- PercentGainClose - percentage of profit compared to balance for when all open trades will be closed to lock in profits.
- AutoTrade - if true, allows EA to trade automatically.
- FixedLotSizeEnabled - if true, EA uses FixedLotSize Parameter.
- FixedLotSize - lot size for all trades.
- PairX - full name of currency pair, if prefix or suffix is part of name, include full name here. (Ex: EURUSDpro).
- PairX_1 - first currency in the pair.
- PairX_2 - second currency in the pair.
- PairPercentX - percent of account balance that can be used for the pair.
- TakeProfitX - hard TP point for pair.
- StopLossX - hard SL point for pair.
- EnableX - set to true to allow trading of the selected pair.
Additional Protections Built into the Program Include
- A hard TP and SL price are set with each trade opened in the event of large market swings or loss of connection with broker's server.
- Trades can be closed manually without disturbing the running program and program settings can be changed while trades are open.
- Internal Limits to Prevent Over Extending of Account.
- Magic Numbers for all trades.
Recommendations on Usage
- Run on the chart that has the most ticks, such as the EURAUD or EURGBP charts which generally see more ticks.
- Try multiple timeframes, EA will trade differently on each. Recommended timeframe is M30 or H1.
- Start Risk small to watch program in action to determine your optimal risk settings.
- 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.
- Recommended minimum deposit is $2000.
- Run the EA on a separate account.
To My Customers
Please don’t hesitate to message me about any questions that you might have, I will be happy to help.
Benjamin Patri – Programming expert in development, design, and optimization of automated trading programs with more than 10 years of Trading and Coding Experience.
+Adding new conditions for opening trades for stronger opening signals.
+Adding the option to trade multiple time frames in place of the chart time frame.
+ Added Profit Target Visibility on Chart Screen to know what Profit needs to be met to close all trades.
+ Added Variable MagicEnabled to deal with bug seen on some MT4 platforms. When set to false, Magic Numbers are not used to calculate profit so trades opened not by EA will be counted towards total profit. When true, only trades open with the EA magic numbers will be calculated for total profit target.