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robot_powerm5-m .mq4 Forex EA free download
Here is robot_powerm5-m .mq4 and its Free Forex EA. You can download, test it and let us know how work is for you.
We have tested many EA on Fxpro you can test with that broker also.
robot_powerm5-m .mq4 3.24 kb, 47 downloads since 2015-04-19
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This Robot_powerm5-m .mq4 Forex EA operates on the M5 timeframe, meaning it keeps an eye on those currency price moves every 5 minutes. It can be used for trading various major currency pairs.
You can customize how the EA behaves by setting certain parameters:
Lots: This is like deciding how many items you want to buy in your shopping. It's set at 1.00 by default.
Stop Loss: Think of this as setting a limit on how much you're willing to lose if the prices go against you. It's set at 45 points by default.
Take Profit: This is like setting a target for how much profit you want to make. It's set at 150 points by default.
Trailing Stop: This is a feature that helps you lock in profits as the price moves in your favor. It's set at 15 points by default.
Now, let's talk about how you should set it up:
Slippage: This is like allowing a little flexibility in your shopping budget. It's set at 20 points by default.
Money Management (mm): This is an important setting. If you set it to 1, it means the EA will calculate the lot size (how many items to buy) based on your account balance and risk percentage. If you set it to 0, you can manually specify the lot size with the "Lot" parameter.
Now, for the strategy:
The EA uses a combination of indicators called "iTrend" and "Bulls Power" and "Bears Power" to make its decisions. It looks at whether the market is bullish (prices going up) or bearish (prices going down) and whether the trend is strong or not.
Bullish or Bearish: The EA looks at whether the market is in a bullish (prices going up) or bearish (prices going down) mood.
Blue and Red Trend Indicators: It keeps an eye on these indicators. If the blue trend indicator is active (ITB == 1), and the red one is asleep (ITS == 0), and the market is bullish, it may place a Buy order. Conversely, if the market is bearish, the red indicator is active (ITS == -1), and the blue one is snoozing (ITB == 0), it might go for a Sell order.
Managing Multiple Trades: This EA can multitask. It can handle multiple trades.
Money Management: The EA manages your money sensibly. If you have no open trades, it calculates the lot size based on your risk percentage and account balance. If you prefer, you can manually set it with the "Lot" parameter.
Trailing Stop Feature: This is like protecting your precious purchases. If the trade moves in your favor, it adjusts the stop loss to lock in profits.
robot_powerm5-m .mq4 3.24 kb, 4 downloads since 2023-11-07
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