Forex Directional Trading Robot review:
About The Directional Forex Robot
The Steinitz HAS MTF Directional Robot version 1.7 uses the same Heiken Ashi Smoothed indicator but it has a completely different algorithms for making buying and selling decisions. This robot that we are featuring here waits for trends to develop on multiple time frames before getting in the market. It other words this robot places trades in the direction of the underlying trend(s) and stays in until the trends start to reverse.
This robot is excellent for detecting the beginning of potential trends and staying in for the entire length. How may times have you seen huge trends and wished that you caught one of these? This robot works perfectly in conjunction with any of our other robots as well as third-party software.
All of our robots have a special magic number that is used to identify which trade belongs to which robot or manual trades, thereby keeping all trades separated without confusion or conflicts. This is the ultimate way to maximize your return on investment and allow for a very smooth equity curve in your portfolio.
As some of you might know the Steinitz HAS MTF Hedge robot version 3.23 is a countertrend robot that uses the Heiken Ashi Smoothed indicator which is excellent for giving accurate signals to the robot for decision-making. This robot uses countertrend technology, whereby it buys on dips and sells on rallies. In other words it buys low and sells high and sells high and buys low.
In summary, the way I would characterize this robot would be like playing baseball. The robot will make a lot of first-base hits with a few second-base runs mixed in with some third and fourth-base runs. All this is in the attempt to get all men on base for that grand-slam.
In this image the robot is trading GBP/JPY. The robot is attempting to go long based on the blue candles as seen on the Heiken Ashi smoothed indicator (above) and the multiple timeframe indicator shown (below).
For purposes of discussion MTF 1 refers to one time frame above the trading timeframe. MTF 2 refers to two timeframes above the trading timeframe. And finally MTF 3 refers to three timeframes about trading timeframe. The digit 1 means “on” and the digit 0 means “off”.
The robot always starts with the trade timeframe as a starting place. In this case we’re looking at the 15 minute timeframe. It has found a blue candle that is closed and proceeds to look at “MTF 1” which stands for multiple timeframe 1. Essentially it’s looking at the next highest timeframe looking for a blue closed candle before taking this trade long.
Notice that in this instance the robot is ignoring “MTF 2 and MTF 3”as indicated by a 0. In summary this robot will take this trade long when the 15 minute timeframe and the 30 minute timeframe are both in agreement with a blue closed candle.
- Works on ALL Forex currencies.
- Works on ALL timeframes.
- Works with Metatrader 4 charting software.
- Works with 4 or 5 broker digit pricing automatically.
- Comes with all custom indicators, expert advisor, and templates.
- You can close out any trade manually without disrupting the robot.
- Robot has optional trailing stop loss capabilities built-in.
- Automatic money management built-in.
- Robots inputs are user adjustable such as “applied price types” and “moving average modes”.
- All text and color objects are user adjustable.
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)