Forex Rocket EA MT5 Robot review:
About The Forex Rocket EA MT5 Robot
The EA opens trades at the beginning of New York session. This is an ideal time to enter the Forex market as the two largest markets in the world literally overlap each other. During this four-hour period, you can see a great increase in liquidity and volatility provided by both London and New York market participants. The EA analyses the market using the advanced trend filter (ATF). The ATF is a directional filter allowing the strategy to identify trends and market reversals. It uses complex algorithms that reduces risk and increase profit potential. The EA does not use indicators, grid, martingale, arbitrage. The EA includes protection against high spreads, and allows you to trade with a fixed or automatic lot size.
Default settings are designed for GBPUSD M5.
Past performance is no guarantee of future profitability, the EA could also make losses.
TP/SL ratio is 1:1
Advanced trend filter;
Every trade is protected by stop-loss;
No dangerous money management are used (grid is optional and not used in my signals);
Optional automatic trade closing on Fridays;
Backtested with 99.90% tickdata and variable spreads;
The EA is not sensitive to spread;
Easy to setup and use.
Pay attention to GMT parameters! In order to get proper results, you have to set them correctly according to your broker GMT Offset
Fixed Order Size – fixed trading lot;
Enable AutoLot – use automatic lot calculation;
Balance For Every 0.01 Lots – balance to be used per 0.01lots (automatic lotsize based on balance);
Max Risk Per Trade – auto MM based on the stop loss and deposit size. For example: at a value of 5, closing a trade by stop loss will result in a loss of 5% of the balance;
Maximum LotSize – maximal allowed trading lot;
GMT and DST:
GMT Offset Auto – if true, the EA will find the GMT offset automatically. Allow requests to https://www.worldtimeserver.com
GMT Offset Manual – set your broker’s time zone (in winter);
Adjust DST Manual – set your broker’s DST;
Trade on Monday – enable or disable trading on Monday;
Trade on Tuesday – enable or disable trading on Tuesday;
Trade on Wednesday – enable or disable trading on Wednesday;
Trade on Thursday – enable or disable trading on Thursday;
Trade on Friday – enable or disable trading on Friday;
Friday Exit? – true/false – if you wish to close all trades on Friday, you should use FridayExit=true;
Friday Exit Hour – the robot will close all open positions at this hour on Friday;
Direction – long and(or) short can be selected;
Start Hour/Minute – here you can adjust the hour/minute for opening a trade. It has to be set in GMT+2 DST:US/EU (corresponds to GMT+2 in winter, GMT+3 in summer) timezone which gives five full 24-hour daily candles each week and is used by most brokers. The daily candles open at 0:00 during the bank rollover time. I use default settings. This parameter does not depend on the broker or PC/VPS local time. Minutes should be divisible by 5, for example: 0,5,10…55
Maximum Spread – maximum allowable spread, pips;
Maximum Slippage – maximum allowable slippage for instant accounts, pips. Increase it to avoid re-quotes and off-quotes;
Take Profit – take profit in pips (1 pip = 10 points for a 5-digit broker);
Stop Loss – stop loss in pips;
Hide Stop Loss – enable/disable hiding stop-loss (SL is executed by the EA);
Trailing SL – trailing stop in pips;
Trailing SL Start – when to start the trailing stop;
Max Holding Time – maximal position holding time – a maximum number of bars between opening a position and closing it completely;
Magic Number – unique identifier for EA’s orders;
Order Comment – comment for EA’s orders.
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)