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This is an auto-trading robot programmed specifically for the GBPUSD pair.
EA Power GBPUSD is similar to the Power of EURUSD. However, this EA applies the correlation of the ichimoku Tenkan line along with 12 currency pairs and 3 timeframes to determine the power strength of GBP and USD.
+ The strength of GBP is based on the correlation of 6 currency pairs with GBP: EURGBP, GBPAUD, GBPCAD, GBPCHF, GBPNZD, GBPJPY.
+ The strength of USD is based on the correlation of 6 currency pairs with USD: AUDUSD, EURUSD, NZDUSD, USDCHF, USDCAD, USDJPY.
Because the EA’s complex strategy requires data of 13 currency pairs and 3 timeframes simultaneously, MT4 cannot simulate this strategy when backtesting. The backtest results also do not show how the EA works, because the MT4 backtest cannot simulate multiple currency pairs and multiple timeframes at the same time.
Settings:
| Prefix | not set if there are no extended characters in name GBPUSD |
| Suffix | not set if there are no extended characters in name GBPUSD |
| 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 $100,000 balance, or 0.01 lots per $1,000 balance…) |
| Trailing | = 8 (points) |
| 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.
Recommend:
Use EA with GBPUSD. If the GBPUSD currency pair has extended characters, you need to enter the expansion character in the Prefix or Suffix parameter as follows:
+ If the currency pair name is in the form GBPUSD.x : set Suffix = .x
+ If the currency pair name is xGBPUSD then set Prefix = x
+ If the currency pair name is xGBPUSDy then set Prefix = x and Suffix = y
+ If the currency pair name is GBPUSD without the extension character, do not install Prefix and Suffix.
Time frame: M5. Use VPS with low latency (<20ms).
Use EA with ECN or Raw spread accounts and allow hedging. Min Balance: $ 500
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.
Tips: if you have many EAs, you should only use 1 EA with 1 account. Because each EA carries different risks, using multiple EAs often increases the risk to the account.
