Forex Opening Range Robot

Forex Opening Range Robot review:

This is full automated Forex Opening Range Robot which trades breakouts of the Opening Range. You have many different options and functions which you can customize to get profitable results. Opening Range = OR

Surface of this System

Before we take a look at all the customizable options, we are going to take a look at the Objects we have on the Chart. There few lines and Data:

  • Takeprofit of a Short Position
  • Takeprofit of a Long Position
  • Stoploss of a Short Position
  • Stoploss of a Long Position
  • Opening Time (Always check the time options.)
  • Opening Range (Always check the price range.)

Test results:

Forex Opening Range Robot


  • UseAverageFilter = Moving Average Filter
  • MovingAverageFirst = Periods of the first MA
  • MovingAverageSecond = Periods of the second MA
  • MovingAverageTimeFrame = Timeframe of the MAs(5=M5, 30=M30, 60=H1, 240=H4, etc.)
  • AllowChangingTradeDirection = Allows to change the trade direction (True=On ->It means that the system will enter a trade in the opposite direction after hit TP or SL (Only if there are presumed requirements (signal)). False=Off -> It means that this system will not enter any new position after hit TP or Sl)
  • UseMoneyManagement= Using automated calculation of position
  • MaxRiskInPercent= Maximal Risk in % per Trade
  • RangeFromHour = Beginning Hour of OR
  • RangeFromMinute = Beginning Minute OR
  • RangeToHour = Ending Hour of OR
  • RangeToMinute = Ending Minute of OR
  • EntryOnlyOnBreakoutClose = True = This system will open only a position if there is a close above/below the OR
  • Lotsi = Position Size (Works only if UseMoneyManagement is “false”)
  • TakeProfit = TakeProfit
  • RangeWidthSL = True = The StopLoss will be above/below the OR
  • FixedStopLoss = Fixed Stoploss (Only if RangeWidthSL is on false)
  • UseTrailSL = Automated changing of StopLoss
  • TrailSL = This amount of Pips will be added to FixedStopLoss or RangeWidthSL (Only if UseTrailSL is enabled)

Download our other Free Forex Robots For Metatrader 4


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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