The fully automated Hammer Expert Advisor is developed to trade at the start of the Asian session during low market volatility.
The opinions of our clients about Pender Expert Advisor may differ for many reasons. The only real indicator of its work is real trading on a real account with default parameters:
To open positions, the adviser uses RSI and ATR indicators, the parameters of which can be changed in the settings.
To estimate my other products you can here https://www.mql5.com/en/signals/author/alcad83
Not a martingale, not a grid, not an arbitrage.
Deposit is always protected either by StopLoss parameter or by DD parameter.
Broker and deposit
Any broker with a small spread and fast execution of orders will be suitable for trading.
Minimal recommended deposit - $100.
Currency pairs and timeframe
Trading on EURUSD, GBPUSD and AUDCAD is recommended.
Timeframe - M5 strictly.
Terminal - MetaTrader4.
- EAMagic1 - magic number of the EA for Strategy1, which allows it to distinguish its positions from others. Must have different values for every chart.
- EAMagic2 - magic number of the EA for Strategy2, which allows it to distinguish its positions from others. Must have different values for every chart.
- AutoLot - can be set to "true" or "false". When set to "true" the EA selects the lot size for trading depending on the balance value.
- Lots - lot size is set by user, if the value of AutoLot is "false".
- Risk - percentage of the deposit, used for the automatic calculation of the lot.
- DD - the maximum drawdown as a percentage of the balance, at which all positions of the EA on current currency pair will be closed.
- CommentOfOrder - comment to orders. Can take any value.
- Strategy1 - can be set to "true" or "false". When set to "true" the EA uses the 1st strategy.
- Strategy2 - can be set to "true" or "false". When set to "true" the EA uses the 2nd strategy.
- TakeProfit - TakeProfit value in points.
- StopLoss - StopLoss value in points.
- TrailingStop - trailing stop value in points. If 0 - disabled.
- ATRperiod - period of ATR indicator.
- RSIperiod - period of RSI indicator.
- RSIselllevel - top value of RSI indicator.
- RSIbuylevel - bottom value of RSI indicator.
- MaxNumberOfOrders - maximal number of simultaneously opened orders.
- MaxSpread -maximal value of spread for the EA to open new positions.
- StartHour - hour to start trading.
- EndHour - hour to stop trading.
- SummerAdjustment - adjustment for daylight saving time (ask your broker).
- ShowInfoPanel - can be set to "true" or "false". If "true", the information panel will be displayed on the chart of the traded pair.
- Panel_Language - language of the information panel.
- TextColor - font color of the information panel.
Recommended parameters for EURUSD, GBPUSD and AUDCAD for winter timezome of trading terminal GMT+2 are set by default.
Parameters are set as for 4-digits servers. They will be automatically recalculated for 5-digits servers.
I will be thankful for your positive reviews and ratings - it inspires me for further improvements of my Expert Advisors.
Attention!Price of the Expert advisor will change every week proportionally to profitability of its signal.
2. Video-guide was added.
3. Description was changed.
It's recommended to use it very carefully with reasonable money-management.