Description

This is an expert adviser/robot that takes into account the relative strength of the currencies and makes trades where it finds currency pairs that have strong and weak currencies. This EA does not use any risky strategies such as Martingale, Hedging, Grid, Averaging, Arbitrage, etc. It takes only one trade per chart at a time. It also avoids related currency pairs when there is a trade. 

Installation Steps

NB: Make sure you are setting this up when the forex market is running (i.e. in weekdays).

1. Copy the indicators into the MT4 Indicators folder

2. Copy the given .tpl template file to the MT4 template folder

3. Copy and EA to the MT4 Expert folder.

4. Load the template file on to the charts

5. Load the EA on to each chart

EA Specs

Screenshot

Settings

Setting Explanations

• Lot size => Here you can set the lot size. Please make sure the ;lot size is in line with your deposit. Do not have large lot sizes if you have a small deposit
• Trading Start/End Time => Here you can have a time filter for the EA. For instance, if you want the EA to run during a particular market session (E.g. London), you can simply set the start and end time accordingly. Please note the time given are based on brokers server time (i.e. MT4 time).
• Trade if Delta more than => Here you can specify the currency strength gap you want to trade.
• Pause after a Losing Trade (Hrs) => You can pause trading after a losing trade as necessary.
• Breakeven % of TP => Breakeven is set as a % of the TP (Not in pips)
• Take Profit (ATR Multiplier) => TP is set as a multiplier of ATR at the time of entering the trade. For instance, if the ATR was 15 pips at the time of the trade and here you have entered 2, then your take profit would be 30 pips. Please note that there is no stop loss setting and stop loss is decided dynamically by the EA.
• Stop loss shrink before News and Weekend (pips) = > The EA will shrink stop loss during news releases and also during the weekend in order to avoid large losses due to sharp movements. After the news releases and weekends, the stop loss will be moved back to original position. EA also has a news filter built in and it may not take trades during news times.

Back-testing Results (back-testing may not work properly without special tools)

Please note that past performance of any trading system is not necessarily indicative of future results. Full terms and conditions are given here.