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Powerful Forex EA: !xMeter_GBPvsUSD.mq4 for LQDFX and FXOpen
Unlock trading potential with our Expert Advisor, !xMeter_GBPvsUSD.mq4. This Forex Robot delivers precision and reliability, designed for optimal performance on leading brokers LQDFX and FXOpen. Elevate your trading experience with this advanced EA, ensuring strategic execution and maximizing your Forex gains. Download now for unparalleled results!
!xMeter_GBPvsUSD.mq4 22.9 kb, 36 downloads since 2015-04-23
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Trade Smart with !xMeter_GBPvsUSD: Currency Power at Your Fingertips!
This EA is designed for the MetaTrader 4 platform and uses a currency strength meter system as the basis for its trading decisions. It actively places trades (both buy and sell orders) based on the calculated strength of GBP versus USD, guided by predefined parameters like Take Profit, Stop Loss, and Trailing Stop.
The EA assesses the strength of GBP and USD using a unique meter system.
Trades are executed when GBP exceeds a high threshold while USD falls below a low threshold, or vice versa.
It incorporates features like Trailing Stops for profit maximization and Stop Loss for risk management.
The EA has flexibility in lot size management, catering to different account types and risk preferences.
Setup Guide:
Install the EA on your MT4 platform.
Adjust the trade parameters to suit your trading style and account size.
Ensure your account type (normal, mini, micro) is correctly set in the parameters.
Monitor the performance and adjust settings as needed for optimal results.
Adjustable Parameters:
Lot (1.0): Base lot size for trades.
TakeProfit (120.0): Desired profit in pips.
TrailingStop (30.0): Distance in pips to trail the stop loss.
StopLoss (80.0): Maximum loss allowed in pips per trade.
Slippage (3): Maximum slippage allowed in pips.
HighLevel (5.0): Threshold for GBP strength to initiate a buy.
LowLevel (3.0): Threshold for USD weakness to confirm a buy (or vice versa for sell).
MaxSpread (5.0): Maximum spread in pips allowed for executing trades.
Optimal Settings:
Currency Pair: GBP/USD.
Time Frame: 1-hour or 4-hour charts.
Minimum Budget: $1,000 for standard accounts, adjust proportionally for mini/micro accounts.
Explanation of Winning Strategy Parameters:
HighLevel and LowLevel: These are crucial for trade entry decisions. A high GBP level combined with a low USD level suggests a strong buying opportunity and vice versa for selling.
TrailingStop and StopLoss: They are essential for risk management, ensuring profits are locked in and losses are minimized.
Lot Size Management: Adjusted based on account type and risk preference, this parameter plays a key role in capital management.
With its focus on currency strength, !xMeter_GBPvsUSD EA offers a unique approach to forex trading, emphasizing calculated decisions based on currency dynamics.
!xMeter_GBPvsUSD.mq4 22.9 kb, 4 downloads since 2023-11-13
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