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Fitful_13.mq4 - Expert Advisor for Consistent Forex Trading Success
Experience the power of Fitful_13.mq4, a reliable Forex robot designed to optimize your trading strategies. This expert advisor (EA) ensures precision and efficiency in executing trades, bringing you consistent results. Tested on LQDFX and FXOpen, this EA is compatible with any broker, enhancing its versatility. Elevate your trading game with Fitful_13.mq4, your key to automated Forex success.
Backtest results:
Parameters of testing
Symbol: EURUSD.
Period: H4.
Model: All tiks.
backtest report
Fitful_13.mq4 21.78 kb, 57 downloads since 2015-01-15
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The FitFul_13 EA uses a combination of technical indicators and price patterns to make trading decisions. Here's a breakdown of its key functions:
Timeframes and Indicator Calculation:
*The EA operates on two different timeframes: H1 (1-hour) and M15 (15-minute).
*It calculates several levels of support and resistance (R1, S1, R2, S2, etc.) based on the weekly (W1) closing price.
Trading Conditions:
*The EA places buy (long) and sell (short) orders based on specific conditions.
*Buy conditions are evaluated when certain criteria are met, such as the open and close prices of candles, and the calculated support and resistance levels.
*Sell conditions are evaluated in a similar manner, but in the opposite direction.
Risk Management:
The EA incorporates risk management to control the volume (lot size) of each trade. It calculates the lot size based on the account's free margin and user-defined maximum risk (ExtMaxRisk).
Trailing Stop:
It offers a trailing stop feature, which means that if a trade becomes profitable, the stop-loss level is adjusted to lock in profits as the price moves in the desired direction.
Time-Based Exit:
There's a time-based exit strategy. If a trade remains open for a specified amount of time (CloseTimeMin_1) and is profitable, it is closed.
Friday Close:
On Fridays, the EA closes open positions at a specific time (CloseHour, CloseMim_1, and CloseMim_2). This is often done to avoid weekend market risks.
Setting Up the EA:
Load the EA: First, add the EA to your MetaTrader platform.
Input Parameters: Adjust the EA's input parameters according to your preferences. These include Y (a user-defined value), TrailingStop (the trailing stop value), and various time-based parameters.
Opinion and Suggestions:
Risk Management:
*Ensure that you understand how the EA calculates lot sizes based on your account's free margin and risk settings. Only risk an amount you can afford to lose.
*Before using this EA with real funds, it's advisable to backtest it on historical data to see how it performs. This will give you an idea of its strengths and weaknesses.
*Start by trading with a demo account to get familiar with how the EA behaves in real-time conditions. This will help you gain confidence and refine your settings.
*Even though the EA can automate many aspects of trading, it's important to monitor its performance and intervene if necessary. Market conditions can change quickly.
*The EA provides several parameters that can be customized. Experiment with these settings to find the combination that works best for your trading style and risk tolerance.
* Consider the market hours and days when you want the EA to be active. It's important to align its operation with your trading goals and preferred times.
Fitful_13.mq4 21.78 kb, 7 downloads since 2023-11-06
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CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS, IN GENERAL, ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
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