Forex Fraus Dobby
The Expert Advisor of the Forex Fraus family, the system is designed for scalping the EUR/USD pair on the M1 timeframe (for five digit quotes), and adapted for the accounts with fast execution of orders.
- Buys at the extreme Lows and sells at the extreme Highs of the Stochastic indicator values.
- 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.
- Download a free copy of the Forex Fraus Dobby
- In the MT4 platform go to Tools > History Center.
- Download the quote history for EUR/USD Attention: for a more accurate testing go to your broker's site and download the history for EUR/USD on the timeframe M1 (for example, 1 year long)
- Open the strategy tester and choose the time interval to start testing.
- Select M1 timeframe.
- Select Every Tick as the model.
- 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
- Attach the indicator to the EUR/USD pair window with the M1 timeframe
- Allow 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: All the default settings are designed for specifically the EUR/USD pair on the M1 timeframe. 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, but it is not so (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
- UseSound - sound of Trailing Stop triggering true-sound is enabled false-sound is disabled
- NameFileSound - name of the sound file
- RiskPercent - risk in percents (lot size is calculated based on the account balance)
- maxLots - the maximum lot used during the calculations of the risk management block
- minLots - the minimum lot used during the calculations of the risk management block
(If the balance is low, it automatically adjusts the number of opened positions relative to the risk management block, and adjusts lot based on the balance to reduce risks. After reaching a breakeven point the block is automatically disabled)