Forex EA Follow the Price Robot review:
About The Forex EA Follow the Price Robot
EA Follow the Price is an intraday automated Expert Advisor that uses scalping strategies.
The EA trades pending orders and catches the best prices for triggering a pending order, which eliminates slippage at the broker and reduces the degree of risk.
EA Follow the Price uses 2 levels of take profit, and works with stop loss and trailing levels.
It can work with any trading tools and is suitable for both beginners and experienced traders.
Suitable for currency pairs GBPUSD, USDCAD, USDCHF, AUDUSD, NZDUSD, for trading on the M15 – M5 period. For other periods and pairs, you need to choose other trading settings.
ATTENTION! For correct trading, you need a broker with minimal spreads from 0 pips (ECN account) and VPS with low pings. Recommended brokers are Tickmill Pro account and RoboForex ECN account, IC Markets RawSpread account. The EA has not been checked for other brokers, but you can choose settings in the strategy tester or on a demo account, if you trade with other brokers.
The EA always trades in good profit as the screenshots, but only in periods of strong market movements (for example, in periods of crises, global pandemics, etc.), so it’s best to work alongside other advisers to compensation and not to miss a strong movement.
Be sure to test the EA’s performance on your broker’s demo account and on your VPS in order to adjust the settings for your broker’s trading conditions.
THE PARAMETERS OF THE EA:
Select Language – Select the language of the interface and messages. Two languages are available: 1. English; 2. Russian
Select Strategy – Select the strategy of trading
Working Timeframe – working timeframe for calculations
Start Hour – the Hour when trading starts, according to the time in the terminal
End Hour – the End time of trading in the terminal
Max Spread, pips – Maximum allowed spread in pips
Average Spread – the Average spread for 30 ticks
Volatility Filter (for Strategy 1) – ATR volatility Filter for filtering signals during a flat
Bar Filter (for Strategy 2) – Minimum size of the bar (candle) to start trading
Trading Type – Type of entry into the market. There are 2 choices: 1. Up, Down – Enters the market only break of the upper or lower indicator values; 2. Center, Up, Doun – Enters the market when breaking through the middle, top or bottom of the indicator values and is a more aggressive way to trade.
Send Push Notification – Sending PUSH messages to the smartphone terminal about trading operations
Use Autolot – Enable / Disable automatic calculation of trading volumes
Autolot Size, money – Size in money for calculating autolot
Fix Lot (or Lot per AutolotSize) – Fixed lot size. When Use Autolot = False, this fixed volume will be used for trading. If Use Autolot = True, it will be used for volume calculations using the formula: Fix Lot * Balance / Autolot Size
Min Lot – Minimum volume of orders for trading
Max Lot – Maximum order volume for trading
Stop Loss, pips – Stop Loss Level, specified in pips
Minimal TP( Virtual), pips – The Minimum Take Profit level for closing part of the position (not visible to the broker)
Closing Coefficient by Min TP – Coefficient of closing part of the position. Example: position Volume = 0.1, coefficient = 0.8, then when the Minimum TP (Virtual) is reached, 0.08 lots will be closed and 0.02 will remain in the market and will be closed by Stop Loss or Maximum TP
Maximum TP( Real), pips – Maximum Take Profit level
Distance from the Price for a pending order, pips – distance from the current price to placing a pending order, specified in pips
Trailing only in the profit zone – Trailing only in the profit zone. If the value is False, the EA will also track the stop loss in the loss zone of the order
Trailing Stop Size, pips – Distance from the current price to the Stop Loss level for trailing positions, specified in pips
Trailing Step, pips – the trailing Step for changing the Stop Loss level, specified in pips
Show Info on the Chart – Enable / Disable the display of trading information and profit on the chart
Magic Number – the Magic number for orders, by which the expert Advisor distinguishes its orders from those opened by other expert advisors
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)