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Fozzy_2-2 Forex EA - Expert Advisor for MT4
Fozzy_2-2[1].mq4 is a reliable and efficient Expert Advisor (EA) designed for the MetaTrader 4 platform. This Forex Robot is well-suited for various trading styles, offering consistent performance and adaptability. Tested on LQDFX and FXOpen, it proves its effectiveness across different brokers. Elevate your trading with Fozzy_2-2, a powerful and versatile tool in the world of automated trading. Download now for optimized trading experiences.
fozzy_2-2[1].mq4 12.55 kb, 33 downloads since 2015-04-23
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Lets break down the Fozzy_2-2 Forex EA, and make it super easy for you to get started!
TheFozzy_2-2 Forex EA is a smart Forex trading bot that helps you make trades based on specific market conditions. It uses a combination of RSI (Relative Strength Index), EMA (Exponential Moving Average), and Bollinger Bands to decide when to buy or sell. Think of it like your personal trading assistant, looking for the right moments to jump in or out of the market.
How This EA Works
It checks the RSI against its EMA to spot bullish or bearish signals.
It uses Bollinger Bands for additional filtering of trades.
The EA can adjust trades using ATR (Average True Range) for setting stop losses and can also move to break even or use a trailing stop for managing ongoing trades.
It can take partial profits, enhancing your trading strategy.
Setting Up and Parameters
Grab the .mq4 file and load it into your MT4 platform.
Adjustable Parameters:
Use_BB_Filter: Toggles the use of Bollinger Bands filter for trade signals.
Use_00_GMT: Determines if trading should occur only at 00:00 GMT.
Lots: Specifies the size of the trade to be executed.
Take_Partial_Profit_Lots: Amount of lots to be taken out for partial profit.
Take_Partial_Profit: Level at which partial profits should be taken.
TakeProfit: The profit level at which the trade should be closed.
Use_ATR_Stop: Enables or disables setting the initial stop loss based on ATR.
Use_ATR_Pct: Percentage of the ATR to use for setting the stop loss.
Init_Stop_Cushion: Additional cushion points for the stop loss.
TrailingStop: Enables or disables the trailing stop feature.
TrailingAct: Point at which trailing stop starts.
TrailingStep: Step size for the trailing stop.
Start_BE: Break-even point for the trade.
MA_Method: Defines the method for the moving average.
RSIPeriod: Sets the period for the RSI indicator.
RSIMAPeriod: Sets the period for the moving average on RSI.
BandsPeriod: Period for the Bollinger Bands.
Alert_Me: Toggles alerts for trade signals.
Trade_Live: Enables or disables live trading.
Test_Info: Toggles the display of test information.
For a winning strategy using the EA, consider the following settings:
Minimal Balance: $1000
Time Frame: 1 Hour (H1)
Currency: EUR/USD
Optimal Settings for Each Parameter
Use_BB_Filter: true
Use_00_GMT: false
Lots: 0.1
Take_Partial_Profit_Lots: 0.05
Take_Partial_Profit: 50
TakeProfit: 100
Use_ATR_Stop: true
Use_ATR_Pct: 0.5
Init_Stop_Cushion: 5
TrailingStop: true
TrailingAct: 30
TrailingStep: 15
Start_BE: 20
MA_Method: MODE_EMA (usually 1 for EMA)
RSIPeriod: 14
RSIMAPeriod: 14
BandsPeriod: 20
Alert_Me: false
Trade_Live: true
Test_Info: false
These settings are a general guideline and should be adjusted according to market conditions and personal risk tolerance. It's recommended to test these settings on a demo account before going live.
TheFozzy_2-2 Forex EA is built for MT4, with a focus on technical analysis-based trading, incorporating risk management and flexibility in trade execution. It is suitable for forex traders who rely on technical indicators and prefer customizable EAs for automated trading.
fozzy_2-2[1].mq4 12.55 kb, 6 downloads since 2023-11-14
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