Forex Chakra MT4 Expert Advisor review:
About The Forex Chakra MT4 Expert Advisor
Chakra MT4 is a trending following EA. This EA uses a custom indicators to detect entry signal.
The fixed stop loss and take profit are always set for each trade.
This EA has smart money management. Users only need to determine the accepted loss for each trade, EA will calculate the lot size for each trade according to stop loss price.
Therefore, this EA is very safe.
This EA is very easy to use and can apply for many currency pairs.
Recommended time frame is H1.
Recommended pairs: EURUSD, USDCAD, GBPCHF, AUDCAD, AUDCHF, AUDJPY, EURNZD, NZDJPY, NZDUSD, GBPNZD, NZDCAD and XAUUSD
1. The risk rate in default setting is set for 1 currency pair (loss 3% for a entry signal). If you parallel run on many currency pairs, please consider to reduce the risk rate.
2. Minimum deposit: $100
3. Account type: Any
4. Contact information: [email protected]
■ ShowPanel=false– Mean do not show information panel (increase backtesting speed)
■ Auto Setting=true – Mean EA will automatically select the value of ConfirmPeriod.
■ ConfirmPeriod=50– this is the period of the custom indicator.
■ RiskReward=1 – Risk/Reward ratio.
■ Stop loss rate=2.5 – This parameter will determine the Stop Loss distance of the trade.
■ Use Money Management?=true – Mean EA use money management.
■ RiskPercent=3.0 – Mean loss 3% of balance for a loss trade.
■ LotSize=0.1 – Basic lot size (if UseMoneyManagement=false ).
■ Max Spread in Points=50 – Maximum spread to open the trades.
■ Slippage=30 – Slippage.
■ Comment=ChakraMT4v1.0– Comment.
■ MagicNumber=106106– Magic Number.
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)