Forex Mr Schmitt Expert Advisor

Forex Mr Schmitt Expert Advisor review:

Forex Mr Schmitt Expert Advisor is fully automated forex robot. Robot has 2 strategies, the strategies based on price levels’ breakout with smart Take profit and Stop loss. Take profit always is 21 pips and Stop loss always is 7 pips. Robot best work on EUR/USD pair on 1H timeframe. No need big risk % for profitable trading,it show good results with only 3 % risk. Of course you can increase risk % but i suggest no more than 5 %. Testing in long term robot showed small Drawdown %. Robot only works on EUR/USD pair.

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Features

  • Always use pending orders
  • Take profit always 3x bigger than stop loss ( tp 21/sl 7)
  • No martingale or martingale elements
  • No grid
  • No hedging
  • There are no risky strategy elements
  • Best work on EUR/USD 1H
  • You can start as little as 200$ deposit
  • Ability choose fixed lot or risk %.

Testing in history

  • EUR/USD 1H 2008-2015 from 1000$ to 5 980 410 $ 3 % risk

Test results:

Forex Mr Schmitt Expert Advisor

Parameters:

  • Risk mode: (true/false) if you use “risk mode” then “lot mode” must be false
  • Risk: money management by risk %
  • Lot mode: (true/false) if you use “lot mode” then “risk mode” must be false
  • Lot: fixed lot
  • Use trailing stop: true/false
  • Trailing stop: trailing stop in pips
  • Trailing step: one trailing step
  • Trailing start: pips offset from the open price
  • Use break even : true/false
  • pips on profit: pips on profit then break even will be activated
  • Use max spread: true/false
  • Trading hour start: it’s start hour of the day when robot will have permission to start trading
  • Trading hour end: it’s end hour of the day when robot won’t have permission anymore to trade that day
  • Stop loss: pips in stop loss
  • Take profit: pips in take profit
  • Slippage: permissible slippage for opening an order
  • Open time for strategy 1: it’s time when order will be placed of strategy 1
  • Buy pending order offset: pips offset from candle high/low for buy pending orders
  • Sell pending order offset: pips offset from candle high/low for sell pending orders
  • Use delete pending orders at Friday: (true/false) it’s depend from your broker, set time before your broker close marker at Friday evening, robot need close pending orders and start next week from zero
  • Delete time: it’s time when orders will be deleted at Friday
  • Comment of order: Comment of order
  • Magic number: unique number for each chart

Settings

  • Risk
  • Lot
  • delete pending orders at Friday
  • lot mode
  • risk mode

Easy to set up, just choose your mode for trading, fixed lot or risk % and set time in “delete pending orders at Friday” before your broker close market at Friday it’s important cause need to delete pending orders before ending week.

Recommendation

Best work on EUR/USD 1H pair. It is recommended to use a low spread broker and a VPS. Download history data before testing on strategy tester.

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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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