This forex robot may be used to trade a lot of currency parities and particularly EURUSD, GBPUSD, AUDUSD, USDCHF with any time frame.
The entry logic takes in account only gaps in price without any other technical indicator and the exit logic is made by a Stop Loss equivalent to the half of the Take Profit value.
It works only with 5 digits brokers, plus JPY parities with 3 digits, and you can activate it on more than one chart at the same time. The robot automatically assigns the MagicNumber for each currency parity and it works even with brokers which use symbols with suffixes after first 6 letters.
It opens one trade at a time and the trade remains opened for an average time from 1 minute to 1 hour.
It starts opening trades with the minimum lots amount set in the external parameters and then, if trade closes in profit, it will open next trade with the minimum lots amount multiplied by the LotsMultiplier value. On the contrary, if trade closes in loss, next trade will be opened with the minimum lots amount.
To improve results considerably, the robot uses the TrailingStop function with a preset amount of points to trail.
The robot does not use neither martingale nor grid systems.
To prevent stop out, EA automatically limits lots amount considering the equity value and the account leverage. Furthermore, when there is a consistent balance amount you can set MaxLots parameter.
We suggest to start using the robot with default settings for each external parameter.
As per amount of money to deposit on the account, please take note that the regular money is USD 1,000.00 or equivalent with default parameters and an account leverage of 200.
You can start even with a smaller minimum amount but in this case we suggest to use an account with a leverage greater than 200.
The robot trades 21 currency parities. If you get the warning "This parity is not allowed", it means that the parity you are trading is not one of those it takes into consideration.
To better understand the idea of this robot we will explain how its main external parameters work:
- GapPrice: the default value is 10 points. Represents the minimum value of each change in price to meet entry conditions. If you reduce this value, you increase amount of trades and vice versa.
- Lots: the default value is 0.03. Represents the minimum amount of lots to open a trade.
- TakeProfit: the default value is 200 points. When you set this value, you set the StopLoss value too. For example if you set TakeProfit to 200, StopLoss is set to a value of 100.
- LotsMultiplier: the default value is 2. With the same amount of money, the higher this value is, the higher will be the maximal drawdown. Anyway the robot checks this parameter toghether with equity and account leverage and decides upon the amount of lots to open next trade. Even with a money of USD 100, a LotsMultiplier of 10 and an account leverage of 200, the robot may work successfully.
- EnableMoveTrStp: the default value is true. This function has a preset value of TrailingPoints. So to deactivate it you need to change the value only.
If you give it time and have a good mix of settings (default settings are ok) , the robot will give back good results witn minor risk.