Forex Pirate Bank Expert Advisor review:
Forex Pirate Bank Expert Advisor is a fully automated Expert Advisor that follows a trend and performs its built-in algorithms.
PIRATE BANK EA uses no grid, no martingale, no arbitrage, no hedges, no tick scalping, and the best part is running fully automatic.
The EA allows you to trade a fixed lot, as well as includes the money management unit for automatic lot calculation based on the preset risk per trade.
Please use this EA on pairs with low spread and low stop level.
Your trades will be protected by stop loss.
Best result using this EA are on EURUSD, GBPUSD and USDJPY pairs, and you can run on several instruments simultaneously.
Requirements and Recommendations
- Please use this EA on M5 timeframe
- The recommended account leverage is 1:500
- If you want to have only one pair triggered at a time, please use the same Magic Number for all pairs.
- VPS hosting 24/7 is strongly advised.
- MagicNumber = 9898 – used to identify an order.
- OrderCmt = piratebank – comments on each trades.
- TakeProfit = 15 – take profit in pips. 15 is 15 pips.
- Stoploss = 10 – stop loss for Reversal trades in pips. 10 is 10 pips.
- AggressiveLevel = 2 – level of aggressiveness, value from 1 to 5. The higher the value, the more aggressive the EA.
- TrailingStop = 3 – trailing stop size in pips.
- TrailingStart = 3 – trailing start in pips for Reversal trades.
- MaxSpread = 1.5 – maximum spread accepted to trade in pips.
- MoneyManagement = true – set to true to enable auto money management. If false, ManualLotsize is used.
- Risk = 2.0 – risk value for Reversal trades.
- ManualLotsize = 0.01 – lot value used if MoneyManagement is false.
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)