Forex Fraus Edelweiss

The Expert Advisor of the Forex Fraus family, the system is designed for scalping and adapted for the accounts with fast execution of orders.

Operation Principle

• It buys and sells based on the values of the internal indicator;
• When a signal is received, the orders are opened by injection, using tick data;
• Always sets a stop loss;
• 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;
• Features the cold start block. In case of a small balance, the EA automatically manages the number of opened positions relative to the risk management block data, as well as regulates the lot volumes depending on the balance to reduce the risk. After passing the risk-free trading level, the block is automatically disabled.
• 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 Edelweiss;
• 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 on the same symbol, as the operation algorithm gets interrupted (it may collect data on operation and deals of the other EA). There is a protection by Magic, but do not take any risks. So, make sure there are no Expert Advisors in other windows! Also, make sure your broker allows placing orders at the same time with stop loss and take profit on ECN accounts. If it does now allow this, then it is better to use an account with Market Execution.

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

• SLb - stop-loss for a buy position.
• SLs - stop-loss for a sell position.
• 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;
• TrailingStop - trailing stop in points from the stop loss value or position open price if (OnlyProfitTrail=true or SLb=0 and SLs=0)
• UseSound - sound of Trailing Stop triggering: true - enabled; false - disabled;
• NameFileSound - name of the sound file;
• AutoSL_AutoTrailSL - automatic calculation and setting of stop loss and trailing stop (true - enabled, false - disabled)
• OnlyProfitTrail - trailing stop is only applied in profit, from the position open price (true or false), enabled automatically if (SLb=0 and SLs=0)
• send_notifications - sends notifications (false - not allowed to send, true - allowed to send).
• TurboMode - increases the number of signals (true or false)
• FilterCatana - prohibit opening positions in the body of the candle, trying to open them nearer to the candle wicks.
• Filter - filter out many false signals and does not allow the EA to trade after large price spikes (true or false)
• MAGIC - ID of the EA.