Forex Borg Expert Advisor review:
This is a reversive trading system, based on modified DreamCatcher indicator. It doesn’t use SL and TP, no pending orders as well. Loss or profit are fixed when opposite trade signal comes.
The EA trades on new bar opening and opens averaging positions when a new signal comes in the same direction until max trades reached, with constant lot or with Martingale applied for averaging positions.
User may use automatic initial lot calculation, based on free margin available as well.
Another option is extreme lot calculation, when the initial lot of the next series is calculated taking into account the previous loss in deposit currency (very risky, but you can recover your loss in one trade, if you have enough margin, of course).
Works on all major pairs (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDCAD), but please note that when trading on multiple pairs, you need an initial deposit bigger than the sum of the maximum drawdown for those pairs (drawdown from the tester).
The EA is tested on H1, but after optimization may be used on any other TF. Recommended minimal deposit – 1500 USD for each working pair.
- Trading signals generator inputs:
- DC period – DreamCatcher period
- DC Deviation – DreamCatcher deviation
- Filter period
- Filter Limit (0..100)
- 1st МА period
- 2nd MA period
- 2nd MA shift (bars)
- MA difference (points)
- Filter Shift, bars
- Filter applied price
- MA price
- MA method (SMA, SMMA, LWMA, EMA)
- Money management:
- risk – initial lot value calculation based on free margin, values from 0.0 to 100, if risk=0 – initial lot will be taken from StartLots
- kLot – averaging lot multiplier, klot=1 – fixed lot, klot>1 – increasing lot for each new trade, klot<1 – decreasing lot for each new trade
- StartLots – initial lot, not less that allowed by your broker
- Maxlots – maximal lot, mo more that allowed by your broker
- xtreme – initial lot calculation in function of loss amount from last trade series, taken as positive integer and used as divider (0 – off; 1 – loss/1; 2 – loss/2 and so on)
- Other trading inputs:
- PipStep – minimal price distance to next trade in 4 digit pips, if market price is closer than this amount of pips to existing trade and new signal comes, no new trade will be opened
- NumberOfTries – max tries to trade, if failed, will wait until next time
- MaxTrades – max trades allowed for one working pair
- slippage in 4 digit pips
- Magic – trade magic number
- StopTrading – if true, EA will not trade
- StopClose – if true and StopTrading also true, and open trades profit is positive, EA tries to close all it’s trades
- On screen display options:
- Info font – font style
- Info font size – font size
- Info corner – info display corner
- Main text color
- Error text color
- Send e-mail – sending e-mail
- Send push notification – sending push notification
- Notify_only_fails (if true, will send notifications only on errors)
- Send e-mail – sending e-mail
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)