Forex Smart Pending Robot

Forex Smart Pending Robot review:

Automatic Expert. Metatrader 4.

For EURUSD. Timeframe M5.

Deposit 1000 $. Leverage: 1 : 500 .

Algorithm, puts Buy & Sell limit pending orders.

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If price goes up it will hit the sell limit, then comes back down to take profit.

If price goes down it will hit the buy limit, then comes back up to take profit.

In case price doesn’t go as we wish, algorithm opens multiple orders according to the grid step, until price return back and hit the average take profit of the opened orders.

If price doesn’t hit any pending orders, algorithm opens Buy or Sell orders according to the detected strong signals.

There is always, at least, 1 buy limit order and 1 sell limit order.

Old pending orders will be deleted automatically when become far from price.

Other pending orders will be deleted when the expert removed from chart, also after strategy tester.

Recommendations:
– Metatrader 4 & Fast VPS 24 hour.

– For EURUSD, Timeframe M5, Leverage: 1 : 500 .

– Deposit is 1000 $.

– By increasing the deposit, you will get less risk and less Relative drawdown %.

– By changing the period for testing, you will get different results.

– The currency pair history should be downloaded to the MT4 terminal every month.

– Use first on Demo account of your broker for at least one month, before using on Live account.

– Be sure first that the performance of the Expert is good at your Broker.

– Change parameters of the Set Files, according to your convenience and performance of the Expert at your broker.

– Please remember that constant low profit is much better, than big profit with high risk and possibility of deposit loss .

Advantage:
– Forex Smart Pending Robot Very simple inputs parameters, make it easy for use by any trader without the confusion of many parameters.

– Set files is available for EURUSD ( Low, Medium and High Risk Set ) it is highly recommended to use these sets.

– No Martingale that can increase the risk and the drawdown %.

– Small risk & Relative drawdown % with safe deposit 1000 $ and smaller with more deposit.

– Money Management Mode selection :

( Money Management Mode = false, for Fixed Lot Size or Money Management Mode = true, for Risk Percent% ).

– Spread filter protects against bad market conditions.

– Trader can use time for start hour and end hour of trading (Use Time Filter = true).

– No need to turn off during news.

– Chart is simplified and not crowded by objects.

– The rent price is low to allow trader to test the expert enough on Demo account of his broker, before using on Live account.

Test results:

Forex Smart Pending Robot

Parameters:

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)

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