Forex Cyrus Lite Expert Advisor review:
Forex Cyrus Lite Expert Advisor is a fully automated trading system. Cyrus EA is based on the strategy of determining a trend and opening trades following the market movement. The EA uses 4 similar algorithms to determine entry points, thus it is possible that several orders will be opened at a time. For each trade the separate Stop Loss and Take Profit are placed.
The Expert Advisor works on EURUSD and GBPUSD pairs. Timeframe is selected on the grounds of a user’s preferences (author prefers M5). You can trade on any or on all timeframes (each timeframe should have its own value of the MagicNumber parameter — see Parameters).
- It DOES NOT use grid strategy.
- It DOES NOT use Martingale.
- It DOES NOT use hedging and arbitrage.
- Handy risk calculation system.
- Works with 4 and 5 digits brokers.
- Automated twenty-four-hour operation (disabling on news is not required).
- Built-in system of fast capital recovery.
- Positive results of long backtesting of the strategy (from 1999 to our days) including quotes with 99% quality.
- 5 digit ECN and STP account with average spread on EURUSD not exceeding 20 points.
- Deposit: $200.
- Leverage from 1:50-100 (depending on expected risks).
- Trailing — enable/disable Trailing profit (it starts when an order reaches 80 points of profit).
- Risk — calculation of a trade size (lot) which depends on a deposit size in % (maximum amount you are ready to risk in one trade, as percentage of the deposit).
- FixLot — fixed size of a trade (does not depend on the deposit size). The parameter is activated when Risk=0.
- AutoGMT — enable/disable automated determination of your broker’s time offset comparing to GMT (your broker’s time offset must be set manually to test it in the strategy tester!).
- Allowed orders per strategy — the maximum number of orders to be opened by each strategy.
- SummerGMT — your broker’s summer time offset comparing to GMT (the parameter is activated when AutoGMT=false).
- WinterGMT — winter time offset comparing to GMT (the parameter is activated when AutoGMT=false).
- ShowIndication — show indication on the chart.
- MagicNumber — ID number of the EA’s orders (each algorithm uses its own ID number as follows: MagicNumber+(algorithm number). For instance, if MagicNumber = 1000, ID number of the first algorithm will be 1000+1=1001, for the second – 1000+2=1002 and all the way to 4)
- EAComment — comment for the EA’s orders.
- RecoveryMode — fast capital recovery mode. ATTENTION! Test this function in the strategy tester before using it!
- MaxSpread — maximum allowed spread for opening orders.
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)