Forex Orions Expert Advisor review:
About The Forex Orions Expert Advisor
Orions, an Expert Advisor, has implemented the best algorithms for trading from scalping and pipsing: filtering deals using the Gann and Elder methods from different time intervals when trading price momentum patterns from 5-minute charts of the instrument. This robot makes a lot of trades every month and filters out each of them using powerful analytical tools, but it is impossible to open so many trades per year and still not get a single losing day. If you do not agree with this, do not buy this advisor in any case.
In this paper, the classical and generally accepted methods of managing orders of scalping Expert Advisors are discarded. You will not find in the work of Orions a thoughtless martingale, which will average trades to unconsciousness until it loses your deposit (familiar, isn’t it?). Here, rigid (fixed!) Stop orders are used and you can clearly see their work on the testing chart, there is no increase in the lot after a losing trade – it always remains unchanged.
It is recommended to work on liquid Forex pairs with a low spread. The lower the commission and the spread, the greater the profit. You can start using it with $ 100 and 0.01 lot. A small initial deposit also contributes to the low-risk testing of the bot. The more latency your broker has in the amount of the Internet channel, the higher you need to set stop loss, take profit and trailing stop so that the server can process them at the required price and the lower the trading frequency will be. The MaxSpread parameter plays a key role. It should be noted here that if during optimization and testing you use a spread, for example, 10 pips (or 1 point), then this parameter should be set exactly so that the Expert Advisor cannot enter the market with other spread indicators. As a result, there will be a much smaller number of entries than during testing (since a really small spread is not often encountered). The existing positions will be fairly accurate and match the readings of the tester as much as possible. This is the main difference between the tester’s indicators and the real operating mode (it is advisable to use an account with a floating spread).
The expert system traverses the entire history and all currency pairs with a single setting. Works using sharp tick movements. It can be run on any hourly period, on any currency pair and on the server of any broker. This makes the Expert Advisor quite attractive to use for trading.
The parameters are divided into groups.
Generally – Some basic settings.
Money management – Working with risks, automatic lot settings.
Restrictions on the environment – The environment settings are critical for scalping.
Stop control – Stop settings.
Volatility control – Volatility settings. Important for making bot logins.
Some basic settings:
Magic is a normal parameter, a magic number.
Slippage – the level of maximum slippage.
Working with risks, automatic lot settings:
Risk – calculates a lot depending on the deposit.
Lot – sets the lot size for entering the market (the priority is higher than that of the Risk field).
LotDigits – sets lot rounding.
Environment settings are critical important for scalping:
MaxSpread – the maximum allowable spread with which the Expert Advisor will open a position.
Commission is an important parameter (like the spread) for those accounts that use commission.
TakeProfit – take profit in pips.
StopLoss – stop loss in pips.
TrailingStart – in how many pips the trailing stop will be activated.
MinStopsLevel – The forced minimum StopsLevel.
MinFreezeLevel – The minimum FreezeLevel is forced.
OrderExpireSeconds – pending order life time in milliseconds.
VolatilityMultiplier – this parameter allows placing an order only if the volatility is higher than this relative parameter (the higher the parameter, the more active price movements will be needed to enter the market).
VolatilityPercentageLimit – indicates that the order will be placed if the ratio of real volatility to the selected VolatilityMultiplier parameter is greater than the specified value in percentage.
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)