Forex Alex Week expert Advisor review:
The Alex Week Expert Advisor trades GBP/USD, EUR/USD, USD/JPY using pending orders only.
Pending orders are placed at the breakthrough of important levels, which are accumulated throughout a trading week.
Upon completion of the trading week, pending orders are deleted.
The main rule of the EA is to preserve and increase the account balance without large risks.
Unlike Alex Profis, this EA stores old signals for one week. It is very useful for a sharp change of trend.
The EA works on H1.
The Expert Advisor does not require a large deposit and can start working with $50.
Alex Week is fully automatic, does not require trader’s interference.
It requires a low spread broker and VPS.
The EA’s Features:
- no need in a large initial deposit;
- only pending orders are used;
- implements control over the amount of pending orders, depending on the size of the deposit;
- each deal is protected by stop orders (Stop Loss and Take Profit);
- additional check of stop loss and take profit’s presence in case of connection loss when placing an order;
- in case pending order’s price slippage, stop loss and take profit levels are re-set at the next tick according to the specified parameters;
- ability to move the order to breakeven;
- position trailing stop is used;
- both a fixed lot and a free margin percentage are used;
- ability to set time limitations for the EA operation;
- no martingale;
- does not consume too much CPU resources.
- TP – pending order take profit;
- SL – pending order stop loss;
- BBUSize – profit in points, at which the stop loss is moved to the break-even;
- BBUSizepip – break-even size in points;
- Magic – magic number;
- UseTrailing – enable/disable trailing;
- TrailingStart – profit in points, after which trailing starts;
- TrailingStep – size of a step, by which the profit should increase in order to move trailing to the next stage;
- TrailingStop – size of a step, by which the profit should decrease, so that an order is closed;
- MaxRisk – risk for the deposit per deal;
- Lots_fixed – fixed lot on/off;
- Lot – fixed lot size;
- Slippage – permissible slippage for opening an order;
- OpenDay – the EA will start trading from this day;
- OpenHour – EA operation start hour;
- OpenMinute – EA operation start minute;
- CloseDay – the day to close and delete all orders;
- CloseHour – the hour to close and delete all orders;
- CloseMinute – the minute to close an delete all orders;
- NonFarmDay – delete orders before nonfarm (day);
- NonFarmHour – delete orders before nonfarm (hour);
- NonFarmMinute – delete orders before nonfarm (minute);
- CheckMargin – accounting of orders depending on the level of the free margin;
- Order_Comment – order comment.
If you have any question, please contact me before buying.
Please set up the work time of the Expert Advisor according to the work time of your trade server.
Copy and paste the file into the MQL4 Experts folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Experts (paste here)