Forex Likemeter 4 Expert Advisor

Forex Likemeter 4 Expert Advisor review:

Likemeter expert 4 is based on the custom indicator Likemeter 4.

Entry points are determined on the basis of the values of Likemeter 4. Positions are closed when reaching specified profit and loss levels.

Input Parameters

  • Period Main – Period Main input parameter of Likemeter 4;
  • Period Signal – Period Signal input parameter of Likemeter 4;
  • Reverse Signal – change the signals to reversed;
  • Stop Loss – loss fixing level in points;
  • Take Profit – profit fixing levels in points;
  • Fixed Lot – fixed lot value;
  • Variable Lot – variable lot as a percentage of the free margin.

The screenshots demonstrate the backtesting results. The backtesting was conducted for the period from 2013.01.07 to 2014.03.08 on EURUSD and M30 timeframe using the “Every tick” option. The Expert Advisor was set to a fixed lot of 0.1, stop loss of 700 points and take profit of 300 points. The Period Main was 35, the mode was 5, Reverse Signal was set to “false” and spread was set to 20.

Test results:

Forex Likemeter 4 Expert Advisor

Installation

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)

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