Forex Fraus Gringotts

The Expert Advisor of the Forex Fraus family, the system is designed for scalping the EURUSD M1 (for five-digit quotes) and adapted for the accounts with fast execution of orders.

Operation Principle

• Buys when passing 100% of the bearish candle volume and sells when passing 100% of the bullish candle volume;
• When a signal is received, the orders are opened by injection, using tick data;
• Positions are closed by Trailing Stop;
• Not closed positions are closed at the opposite trade;
• Built-in adjustable risk management block. Depending on the balance, it monitors the size of the executed order, distributing risks;
• Works with any balance;
• It features a module for sending PUSH-notifications to mobile devices (after every trade it sends a message to mobile devices with the data on the current balance and profit).

Testing

• Download free copy of Forex Fraus Gringotts;
• On your MT4 platform, go to Tools > History Center;
• Download the quote history for EURUSD. Attention: for a more accurate testing, go to your broker's site and download the history for EURUSD M1 (for example, one year long);
• Open the strategy tester and choose the time interval to start testing;
• Select timeframe M1;
• Select Every Tick mode;
• Set spread no more than 10 points, or the current if it fits within the range. Usually, for this pair it is 5-8 points (for the five-digit quotes);
• Start the backtest.

Live trading

Very important: the EA does not work together with other Expert Advisors, as the operation algorithm gets interrupted. So, make sure there are no Expert Advisors in other windows!

Optimization note: The default settings are designed for EURUSD M1. If you want to use the robot on other currency pairs, be sure to test in the tester before use.

Trading tip: The EA signals do not come often (this can be seen from the tester data). This should not be feared, many people might think that the EA stopped working. However, this is not the case (it can be silent for about a week). Later it is compensated by an order injection once the signal arrives. Therefore, I recommend placing the robot on a virtual server, as the EA is recommended to trade 24/7.

Data variables of the EA settings

• SL - Stop Loss;
• TP - Take profit;
• TrailingStop size - trailing stop size;
• TrailingStep - trailing stop step;
• UseSound - sound of Trailing Stop triggering: true - enabled; false - disabled;
• NameFileSound - name of the sound file;
• RiskPercent - risk in percents (lot size is calculated based on the account balance);
• maxLots - maximum lot used during the calculations of the risk management block;
• minLots - minimum lot used during the calculations of the risk management block;
• send_notifications - sends notifications (false - not allowed to send, true - allowed to send).