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Reverse Position Forex EA - Expert Advisor for MT4
Experience the power of the Reverse Position Forex EA, a versatile expert advisor (EA) designed for MT4. This Forex robot, coded in 'ReversePosition.mq4,' showcases impressive performance across various brokers, including LQDFX and FXOpen. Unlock new possibilities in your trading journey with this reliable and adaptable EA. Boost your trading strategies with the Reverse Position EA today.
reverse position.mq4 1.82 kb, 34 downloads since 2015-04-22
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Download the Reverse Position EA - your automated trading companion with settings.
This EA works as a trading tool, not just an indicator. Its main function is to automatically reverse your trading positions when certain conditions are met.
The strategy of this EA is simple. It checks your open positions and if it finds a market order (buy or sell) for the current currency pair, it will close that order and open a new one in the opposite direction. This reversal is triggered by the current bid and ask prices.
How It Works:
When you attach this EA to your MetaTrader trading platform and set it up with the right parameters, it monitors your open trades. If it detects a buy order for the current currency pair, it will close that buy order and open a new sell order. Conversely, if it finds a sell order, it will close that sell order and open a new buy order. This can be helpful if you want to quickly reverse your positions without manually closing and opening new trades.
To use this EA, you should:
Attach it to a chart in MetaTrader.
Set the parameters according to your preferences. The most important parameters are lot size, take profit (tp), and stop loss (sl).
Make sure the "show_confirm" property is set to true if you want to receive confirmation before reversing positions.
Adjustable parameters:
Lot Size (lot): This parameter allows you to specify the size of your trading position. It determines how much of the base currency you are trading. For example, a lot size of 0.1 represents 10,000 units of the base currency.
Take Profit (tp): This is the price level at which the EA will automatically close a profitable trade to lock in your desired profit. It is typically measured in pips from the entry price.
Stop Loss (sl): Stop loss is the price level at which the EA will close a trade to limit potential losses. It helps you control the maximum amount you are willing to lose on a trade and is also measured in pips from the entry price.
Show Confirmation (show_confirm): This parameter, when set to "true," will prompt you for confirmation before the EA reverses a position. It allows you to double-check and confirm each reversal action.
Suggested Winning Setting:
Lot Size (lot): 0.1
Take Profit (tp): 50 pips
Stop Loss (sl): 30 pips
Show Confirmation (show_confirm): true
reverse position.mq4 1.82 kb, 1 downloads since 2023-11-10
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