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DojiTrader fxid10t mod.mq4 - Expert Advisor for Reliable Forex Trading
Discover the power of DojiTrader fxid10t mod.mq4, an advanced Forex robot designed for optimal trading performance. This EA leverages cutting-edge algorithms to navigate the dynamic Forex market, providing consistent results without ownership claims. Compatible with various brokers, including LQDFX and FXOpen, it ensures flexibility in your trading choices. Elevate your trading experience with this reliable and efficient Forex EA.
DojiTrader fxid10t mod.mq4 6.44 kb, 32 downloads since 2015-04-23
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Download the DojiTrader EA!
The strategy of DojiTrader is to identify doji candlestick patterns and make trading decisions based on the direction of the next candle. If the next candle moves in the anticipated direction, the EA enters a trade. It also includes risk management features to limit losses and secure profits.
Key Functions and Features:
Entry and Exit: DojiTrader looks for doji patterns on the price chart. When it identifies a doji, it checks the direction of the next candle to determine whether to enter a trade or not.
Risk Management: It allows you to set parameters for trade size (Lots), maximum risk (MaximumRisk), and a decrease factor (DecreaseFactor) to manage your risk effectively.
Take Profit and Stop Loss: You can specify Take Profit (TakeProfit) and Stop Loss (StopLoss) levels to control your potential profit and limit potential losses.
Trading Hours: You can define the time during which the EA is allowed to trade using TimeOpen and TimeClose settings.
Magic Number: The EA uses a unique identifier (MagicNumber) to keep track of its trades.
Setting Up DojiTrader:
Install the EA in your MetaTrader 4 platform.
Adjust the settings according to your preferences, such as Lot size, Maximum Risk, Take Profit, Stop Loss, and trading hours.
Attach the EA to a chart for a currency pair you want to trade.
Ensure that your MetaTrader 4 platform is running and connected to your trading account.
The adjustable parameters of the DojiTrader EA:
Lots: This parameter allows you to set the trading lot size for each trade.
MaximumRisk: You can define the maximum risk as a percentage of your account balance for each trade.
DecreaseFactor: This parameter is used to adjust the lot size based on the number of consecutive losing trades.
TakeProfit: Specify the take profit level in pips, which is the target price at which the EA will close a winning trade.
StopLoss: Set the stop loss level in pips, which is the price at which the EA will close a losing trade to limit losses.
TimeOpen: Define the starting hour of the trading session during which the EA is allowed to trade.
TimeClose: Specify the ending hour of the trading session when the EA should stop trading.
MagicNumber: This is a unique identifier assigned to the EA's trades to keep track of them.
MagicName: A custom name or label for the EA.
For a winning setting, you can start with the following parameters:
Currency Pair: EUR/USD
Time Frame: 1-Hour (H1)
Minimum Budget: $1,000
EA Parameters:
Lots: 0.1
MaximumRisk: 2%
DecreaseFactor: 3
TakeProfit: 50 pips
StopLoss: 50 pips
TimeOpen: 8 (8:00 AM server time)
TimeClose: 16 (4:00 PM server time)
MagicNumber: 123456 (or any unique number)
MagicName: "DojiTrader EURUSD H1"
DojiTrader fxid10t mod.mq4 6.44 kb, 5 downloads since 2023-11-11
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