Forex Crash trader Expert Advisor review:
CrashTrader sets two stop orders at a specified distance to latest highs and lows in a currency pair at any time. The distance shall be reviewed every minute and corrected if necessary. Once one of the stop orders is achieved by a strong price movement, a position is opened and profit-taking is done by a trailing stop (as shown in the video).
CrashTrader can be used in a variety of currency pairs and CFDs with different settings. All parameters can be set independently for buy and sell.
Really great price movements are unfortunately rare. Therefore, the EA is preset that already ‘medium’ price moves open positions in order to close relatively early again. The stop loss can be placed quite close (8 pips here) because it is considered a continuation of the price movement. So, CrashTrader achieves good profit in EURUSD even without a ‘crash’ in the tested period. It also works well in GBPUSD with the same settings. Exotic pairs may even work better with adequate settings.
Features that can be disabled:
- Automatic money management (Auto_Moneymanage)
- Distance in points where pending orders are placed and held above and below latest highs and lows can be set (DistB / DistS)
- Number of latest highs and latest lows the CrashTrader is using can be set (PeriodsB / PeriodsS). The setting 5 in M1 chart means that the highs/lows of the past 5 minutes are used and a pending order is placed above the highest high / below the lowest low of the last 5 minutes.
- Stop loss may be set with the pending order (SLpendOrder = true) or (if the broker doesn’t allow that) with first tick after opening the position (SLpendOrder = false).
- It may happen that a position is opened at a worse price than the trigger level of the pending order (neg. slippage). In that case, if SLpendOrder = true, the distance between the entry price to the StopLoss that was set by the pending order is bigger than it should be.
- In that case, if Adjust SL = true, CrashTrader sets the SL to the correct distance regarding the order open price, as set in the setting StopLoss. So, a correct money management can be realized.
- SLtoEntry adjusts at which profit level StopLoss is set to entry.
- SLtoEntrSec adjusts after how many seconds stop loss is set to entry even under SLtoEntry profit level (if price movement stops and position is just slightly in profit).
- SLtoEntrSecP is above mentioned minimum slightly profit in points.
- If Doublechance = true, CrashTrader opens another pending order even when a buy or sell position is already opened. Normally, CrashTrader doesn’t open another pending order. Doublechance means that if within the same minute when buy or sell position is opened, a new pending order is placed. So, if the price continues moving into the ‘right’ direction, the next position is opened when first position’s StopLoss is already set to entry (with the given settings).
- TakeProfit is the level of profit in points where trailing stop starts working.
- TrailProfit is the distance to the price where the StopLoss is following (as shown in the video).
- Maximum spread closes pending orders if the spread is wider than set. Orders are reopened after spread reduces below maximum spread.
- HrFriStop – Hour when all pending orders are closed and no new ones are opened on Fridays.
- magic – Magic number.
Traders know that there is a huge price movement in the chart, almost a crash, and again you haven’t been in the market with a trade in the right direction.
If news surprise the market or the high-frequency trading is going crazy – sometimes, the market moves 50 pips or more within a minute…
With CrashTrader EA, you don’t miss those trades!
This is not a part of the product, just free extras.
Active traders can inform themselves with the OrderOpenAlarm (opt. audible/email) when a trade is opened. Many different strategies can be executed with CrashTrader.
Here is one example how to use CrashTrader in a semiautomatic mode:
If TakeProfit is set to a value that never can be reached, like p. e. 99999, CrashTrader won’t close the position to TakeProfit. The CrashTrader then just opens the pending orders and if a buy or sell position is opened, the stop loss will be set to the entry price when the price reaches SLtoEntry level. So, the trader reacts when informed by the OrderOpenAlarm and closes the order (partially) regarding the chart and his or her own strategy.
CrashTrader can be used for scalping with complete different settings.
A good pair to trade with CrashTrader in ‘scalping’ mode is AUDUSD (if your broker offers low spread for that pair).
It is not real scalping but is quite close to it. The StopLoss is set to enter early and profit is taken early. But there is a lot of fake movement in the 2 hours after Wall Street close. It is better to deactivate the EA in scalper mode at these hours.
Settings for this:
- DistB = 100;
- DistS =85;
- StopLossB = 85;
- StopLossS = 85;
- StopLossB = 100;
- StopLossS = 100;
- SLtoEntryB = 70;
- SLtoEntryS = 70;
- SLtoEntrSec = 10;
- SLtoEntrSecP = 25;
- TakeProfitB = 80;
- TakeProfitS = 80;
- TrailProfitB = 50;
- TrailProfitS = 50;
The mode ‘scalping’ hasn’t been tested a lot, but it looks promising.
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)