Smart Robot Free MT4
Smart Robot MT4 is an Expert Advisor based on Scalping, Elliot Waves and with filters such as RSI, Stochastic that managed and decided with robot smartly. Large number of inputs and settings are tested and optimized and embedded in the program thus inputs are limited and very simple. Using EA don't need any professional information or Forex Trading Knowledge.
The EA works with low margin level and thus has low risk.
This is Free Version and limitations is : Trade on EURJPY only with lot size equal to 0.01.
The default inputs in this EA is set to 5-digit accounts. If your account is 4-digit use 0.1x values.
Using EA :
The EA is very simple and without complicated input parameters.
These are main parameters must be set :
- Time Frame : Time frame for trading.
- Trade Type : Long/Short/Both/No-Hedge
- Stop Trading : if true, EA don't open new position. Only manage already opened.
- Minimum Distance to Open New Position : Distance to ignore new signals if older position exist.
- Maximum Spread to Open Position : Spread to stop trading
- Magic Number : Any constant ID.
- Show Panel On Chart : Shows report of positions on chart with the option of manual closing them.
- Action for in-Loss Positions : Averaging-Add,Averaging-Multiply, StopLoss, WaitforTP
- Take Profit : TakeProfit in Points
- Stop Loss : StopLoss in Points. Only acts if Stoploss option selected above.
- Averaging Distance : Distance in Points to insert averaging position. Only acts if Averaging option selected above.
- Averaging Volume Multiplier : Volume multiplier if averaging selecting above.
- Averaging Volume Add : Volume adding if averaging selecting above.
- Volume Calculation Method : KLot, Constant.
- KLot : KLot equals Balance/Position Volume. This option is ignored is Constant selected above.
- Constant Volume : Volume of trading. This option is ignored is KLot selected above.
- Trailing Stop Loss : Enable/Disable Trailing Stop
- Trailing Start : Trailing Start Distance in Points.
- Trailing Stop : Trailing Stop Loss Distance in Points.
- Trailing Step : Distance to apply Trailing Stop Loss in Points.
- Break Even : Enable/Disable Break Even
- Activate Break Even After Loss : Distance to apply Break Even in Points
- Day of Week and Time Filters
- News Filter Inputs :
- Block Trading During Low Impact News
- Minutes Before Low Impact News
- Minutes After Low Impact News
- Block Trading During Medium Impact News
- Minutes Before Medium Impact News
- Minutes After Medium Impact News
- Block Trading During High Impact News
- Minutes Before High Impact News
- Minutes After High Impact News
* All above points inputs defaults is for 5digit accounts. if your account is 4digit use 0.1x numbers.
Optimizing EA :
(important) Optimize EA for last 6 month before using, and update optimization every 1-2 month.
Optimization of EA is so fast and easy. We recommend these Optimization inputs :
- Time Frame : M5 to D1
- Action for in-Loss Positions : Averaging-Multiply and Averaging-Add
- Take Profit : 100 to 1000 step 100 (10 to 100 step 10 for 4digit accounts)
- Averaging Distance : 500 to 8000 step 500 (50 to 800 step 50 for 4digit accounts)
- Averaging Volume Multiplier : 1 to 5 step 0.5
- Averaging Volume Add : 0.01
- Minimum Distance to Open New Position : 1000 to 5000 step 1000 (100 to 500 step 100 for 4digit accounts)
- Volume Calculation Method : Constant
- Constant Volume : 0.01
- Maximum Spread to Open Position : 100 (10 for 4digit accounts)
- Show Panel On Chart : false
- Trailing Stop Loss : false
- Break Even : false
- It is recommended that do backtest with constant volume to find largest profit with low drawdowns. Then run optimization again on KLot only, to determine best volume. (KLot=1000 to 200000)
- It is recommended that optimize Custom Parameter.
- News Filter will not work in tester because of MQL limitations.
Recommendations and Using Conditions :
- You can run EA on several charts and symbols. Try to use different Magic Number input for each chart.
- If you attach EA to multiple charts, increase KLot to reduce your risk.
- EA work on Hedge accounts.
Activating News Filter :
- Enable "Allow Webrequest" on Tools/Options/Expert Advisors and add http://ec.forexprostools.com/to the list.
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- Added Panel Compatibility with high resolution displays
- Averaging Add Volume Mode
- Trade Type Selection
- Stop Trading Option
- News Filter
- Panel on Chart
- Trailing Stop
- Break Even
- Custom Parameter for Optimization