XTrader is a single chart trading EA. It only trades 1 position at a time and has a high win ratio. Keeping possibilities open and draw downs low.
It is very important that you set the trade hours for few hours a day after most of the European news is finished, on a GMT 00 broker, these hours are 21pm to 1am. Only trade GBPCHF M5 for the best profits, however the EA will work nicely on most pairs with good settings.
You will need to download and add the XigXag indicator to your MT4 platform, this is a modified version of the ZigZag indicator.
It can trade with a small balance as low as 50 and any leverage.
- MAGIC = 0; If this value is not 0 then Xtrader will identify trades using the OrderMagicNumber() number set here. If this value is 0 then Xtrader will identify trades using the OrderSymbol().
- TradeComment = ""; This sets the OrderComment() value of all trades made by Xtrader.
- TradeTimeSeconds = 1800; Only new orders will be made after this number of seconds since the last "Signal" had been traded. Basically this can easily increase or decrease the trading frequency.
- ProfitTimeSeconds = 1800; After this number of seconds since the current order has been opened Xtrader will take profit and close the order.
- SignalAStartHour = 21; This is the start hour on the chart that Xtrader will start trading. You can have a higher value than SignalEndHour.
- SignalAEndHour = 1; This is the end hour on the chart that Xtrader will start trading.
- MarginUsage = 0.05; This is the most important value related to risk. Xtrader will calculate the lot size as this ratio of the AccountBalance() given that 1 is the full balance. This is also related to the leverage where recommended values for a leverage of 100 is 0.15 and a recommendation for a leverage of 500 would be around 0.03
- ExponentialGrowth = 0.05; This is the expected profit per hour if Xtrader is trading otherwise it will not trade.
- Added trailing stop.
- Fixed minor defects.