Forex Price Catcher PRO Robot

Forex Price Catcher PRO Robot review:

The Expert Advisor places pending orders with sharp price movement so as to catch this movement, regardless of whether it is false or not. If you have been trading Forex long enough, you might have already noticed these price spikes. The price starts a sharp movement in one direction, can sharply turn and hit stops and again go sharply in the direction of the first signal.

The EA is designed to catch these movements taking into account false signals and reversal movements. Pending orders are placed in the direction of price rollbacks at a given distance of N points when signals occur. The signal is calculated by breakthrough of the level set at the Step distance from the price and modified after a specified time TimeStep in seconds. The Expert Advisor works with 4 and 5-digit quotes. The EA uses 2 trailing stop types: first trailing is activated on the current bar (opening the market TrailingStep order), then trailing on highs/lows of previous bars/candlesticks is activated (BarCount).

The recommended minimum deposit is 1000 USD (1000 USD cent), the currency pairs are EURUSD and EURJPY. The Expert Advisor does not use high-risk trading strategies, like Martingale.

The EA includes a gap protection function, it closes all open positions before the end of trading on Friday and will not open any new positions until Monday – the TimeOnFriday parameter.

To test the EA, enable the visual mode in the the strategy tester and set all ticks with 99.9% simulation quality. You will not get normal testing with less precision quality of quotes.

Recommendations

Before running the EA on a real account, make sure to properly set up its parameters. Test it with 99.9% quality quotes for the last year for the instrument you are going to trade. I will periodically post optimized parameters (set files) in the comments to this Expert Advisor.

Test results:

Forex Price Catcher PRO Robot

Parameters:

  • Lots – fixed trading lot if MaxRisk = 0;
  • MaxRisk – the maximum risk in % for the calculation of the lot; if 0, then the lot size is fixed and equal to the value of Lots;
  • MaxLots – maximum lot;
  • MaxSpread – maximum spread;
  • TakeProfit – profit;
  • StopLoss – loss;
  • BarCount – number of bars for trailing; if 2, the calculation is performed by highs and lows of the last two bars;
  • Indent – shift in points from the bars’ lows and highs (BarCount);
  • TimeFrame – timeframe for trailing, searching for bars’ lows and highs (H1 – 60, M30 – 30, M15 – 15, M5 -5);
  • TrailingStart – start of trailing inside the open bar of the market order;
  • TrailingStep – step of trailing inside the open bar of the market order;
  • Slipage – slippage;
  • Step – shift in points from the virtual level price;
  • TimeStep – time of modification of the virtual level in seconds;
  • StepPendingOrders – distance from a price in points for placing a pending order;
  • ReversalOrder – placing a pending reversal order, if a false signal was received;
  • StepReversalOrders – distance from a price in points for placing a pending order;
  • Expiration – pending order expiration time in minutes (but no less than 11)
  • MaxOpenOrders – maximum number of open trades at a time;
  • MaxPendingOrders – maximum number of pending orders;
  • TimeOnFriday – time, after which trading on Friday is prohibited; if 0, then there is no prohibition (server time);
  • Magic – magic number;
  • TextColor – text color;
  • UpCol – upper line color;
  • DnCol – lower line color.

Download our other Free Forex Robots For Metatrader 4

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)

Other forex indicators and strategies

Leave a Comment