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Please note that this EA is programmed specifically for eurusd. The Expert Advisor power of EURUSD uses a multi-currency and multi-timeframe strength correlation strategy to identify EURUSD trading signals. Entry strategy with the strength of each currency EUR and USD with:
+ The strength of EUR is based on the correlation of 6 currency pairs with EUR: EURGBP, EURCHF, EURAUD, EURCAD, EURNZD, EURJPY.
+ The strength of USD is based on the correlation of 6 currency pairs with USD: AUDUSD, GBPUSD, NZDUSD, USDCHF, USDCAD, USDJPY.
This is a complicated strategy with multi-timeframe and multi-currency analysis, so MT4 cannot backtest this strategy exactly. Because MT4 can not simulate multiple time frames and currency pairs at the same time. You can refer to the trading results of this EA by live signals.
Although the EA uses a complex strategy, it is very simple to install and use. You just need to install it on the EURUSD chart and leave it as default.
Settings:
| Suffix | not set if there are no extended characters in name EURUSD If the pair name is in the form EURUSD.x : set Suffix = .x |
| Max Spread | = 25 to 30 (Must be higher than the average spread of the currency pair) |
| Fixed Lot | = 0.0 (activated Auto Lot); Fixed Lot > 0 (your manual lot size) |
| Auto Lot | = 1.0 to 3.0 (= 1 mean auto lot size = 1 lots per $1,000,000 balance, or 0.01 lots per $1,000 balance…) |
| MA Period | = 14 |
| MA Method | = SMA |
| Trailing | = 8 (points) |
| Stop Loss | = 0 (points , = 0 means not use) |
| Max Drawdown | = 0.0 (%, = 0 means not use) |
| Slippage | = 6 |
| Magic Number | = your number |
* If you set Fixed Lot > 0, the EA will trade with Lot Size = Fixed Lot (if Fixed Lot is a valid lot size).
* If you set Fixed Lot = 0 and Auto Lot > 0, the EA will calculate the Lot Size according to the value of Auto Lot.
Version 1.5 Upgrade:
Add: Suffix setting for use with currency pairs with extended characters. For example, for a currency pair named EURUSD.x, set Suffix = .x (insert .x in the value box).
Add: Max Drawdown in Percent (%). If set Max Drawdown = 0, this feature will not be applied.
Recommend:
Time frame: M5 or any timeframe. Use VPS with low latency (<20ms).
Use EA with ECN or Raw spread accounts and allow hedging. Min Balance: $ 500 (0.01 lot).
Stops Level = 0 (check the Stops Level by: Press Ctrl + U, select currency pair, click Properties and Stops Level on the 3rd line)
Note: The backtest results only show trading of 1 time frame and no confirmation of multi currency pairs, while the EA analyzes multiple time frames and currency pairs. So you should experiment with demo account or 0.01 lot first to be able to control the risk and get a more accurate assessment of the performance of this EA.
