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PowerM5 Forex EA - Expert Advisor Robot for LQDFX and FXOpen
Unlock potential profits with the PowerM5 Forex EA, a cutting-edge Expert Advisor (EA) designed for optimal performance on LQDFX and FXOpen brokers. This Forex Robot utilizes advanced algorithms to navigate the dynamic forex market, ensuring precision and profitability. Download robot_powerm5-m_.mq4 now to automate your trading and experience the power of a reliable Forex EA. Elevate your trading strategy with this high-performing Forex Robot – your key to success in the world of forex trading.
robot_powerm5-m_.mq4 3.24 kb, 33 downloads since 2015-04-19
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Introducing the Robot PowerM5 EA with settings!
The Robot PowerM5 EA employs a strategy based on Bull and Bear power indicators. It trades on the M5 (5-minute) timeframe for various currency pairs. The strategy involves buying when there's bullish momentum and selling when there's bearish momentum, combined with specific conditions related to trend indicators.
How It Works: Here's a simplified explanation of how the EA works:
The EA analyzes the Bull and Bear power indicators to assess whether there's bullish or bearish momentum in the market.
It also checks two iTrend indicators to confirm the trend direction.
If you enable Money Management (MM), it calculates an appropriate lot size based on your risk percentage and account balance.
If there are no open trades, the EA executes a buy order when there's bullish momentum and the trend confirms an uptrend. Conversely, it executes a sell order when there's bearish momentum and the trend confirms a downtrend.
The EA sets a Stop Loss and Take Profit for each trade, helping to manage risk and lock in profits. The values are configurable in the settings.
If a trade goes in your favor, the EA uses a trailing stop to move the Stop Loss closer to the current price, securing potential profits.
The EA manages multiple trades if there are open positions, adjusting Stop Loss and Take Profit levels accordingly.
The adjustable parameters:
slippage: This parameter determines the allowable slippage in pips when executing orders. Slippage occurs when the actual execution price differs from the intended price.
mm: Money Management setting (0 or 1). When set to 1, it enables the EA to calculate lot size based on your specified risk percentage and account balance. When set to 0, it uses a fixed lot size defined in the "Lot" parameter.
risk: The risk percentage, which is used to calculate the lot size when Money Management (mm) is enabled. It represents the percentage of your account balance that you are willing to risk on a single trade.
Lot: This parameter sets the fixed lot size for trading when Money Management (mm) is disabled. It specifies the amount of currency to be traded per position.
StopLoss: The Stop Loss level in pips, which is used to limit potential losses on each trade by defining the price level at which a losing trade should be closed.
TakeProfit: The Take Profit level in pips, which is used to define the price level at which a winning trade should be closed to secure profits.
TrailingStop: The Trailing Stop level in pips, which is used to automatically adjust the Stop Loss level as the trade moves in your favor. It helps lock in profits while allowing room for market fluctuations.
Recommended Setting for EA:
Currency Pair: EUR/USD
Time Frame: 5-minute (M5)
Minimum Budget: $1,000
Slippage: 20 pips
Money Management (mm): Enabled (set to 1)
Risk: 5%
Lot: 0.1
Stop Loss: 40 pips
Take Profit: 120 pips
Trailing Stop: 15 pips
To use this EA effectively, you can set it up on a MetaTrader 4 (MT4) platform. Apply the EA to your desired currency pairs on the 5-minute chart. Ensure that you have the recommended settings configured, and consider starting with a demo account to test its performance.
robot_powerm5-m_.mq4 3.24 kb, 5 downloads since 2023-11-10
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