Trading Robots for MetaTrader 4
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MetaTrader 4
Top Rated Products MT4
Overview
This Expert Advisor is a Trend Following as the name suggest using an indicator to open and close an order. Tested in EURUSD using default settings.
Recommended to use this EA in higher TimeFrame with Higher TakeProfit and PipStep.
- InpMagicNumber - magic number to use for open orders, if -1, the all open orders for that specific instrument will be processed by this EA
- InpLotExp - lots multiplier for averaging down an open orders
- InpLots - initial lots, this will be based on InpDollarPerLots
- InpTakeProfit - take profits in points
- InpPipStep - minimum distance for opening an averaging down an open orders. Higher PipStep means Lower Drawdown
- InpMaxTrades - maximum number of averaging down an open orders
- InpMinTimeTradeStep - minimum time distance between orders when averaging down
- InpDollarPerLots - used to increment the lots based on your gained balance. If 0, no lots increase
- InpSpread - maximum spread allowed before opening an orders. If -1, no checking
Note:
- Higher TakeProfit = risky but higher gain
- Lower TakeProfit = not too risky with lower gain
- Higher PipStep(500 - 1000) = Lower DRAWDOWN between 2%-5% using 0.01 lots with $2000 capital
- Lower PipStep = risky due to higher drawdown
Try experimenting with the following with 0.01 lots and $2000 capital. You can try to test this on other instruments other than EURUSD.
- TakeProfit: 100, PipStep: 100
- TakeProfit: 200, PipStep: 200
- TakeProfit: 300, PipStep: 300
- Make it higher(multiple of 100)
Recommended: TakeProfit: 100, PipStep: 300
