Forex Super Hour Trader Robot

Forex Super Hour Trader Robot review:

This Expert Advisor (EA) is using the one hour trading method, basically it’s opening and closing the trade in the same hour. The EA is generating a signal based on candlestick formation, and the Stop Loss (SL) is created by the Average True Range indicator (ATR). There is an option to modify settings in the ATR if the user wants. The EA is not using Take Profit (TP), the trades are closed by the EA, however, if the user wants there is the possibility to set a TP (it’s 200 pips on default). There is the possibility to open maximum two trades simultaneously (one Buy and one Sell).

Here are the Inputs for the EA

There are three options for Buy Now and Sell Now

  1. VolumeRisk: is for setting the risk. The default number is five, that is the percentage on the free margin which is going to be used based on the SL level, so if the SL hits, the maximum loss is 5% of the free margin when the trade is opened. Example: the free margin is 200 USD, the risk is 5% (10 USD), and the trade is opened with 20 pips SL. The trade size will be set on 0.05 LOT on EURUSD because if 1 pip is 0.5 USD then 20 pips are 10 USD. Max 5% of the free margin is risked on the trade.
  2. VolumeUperLimit: is for setting the maximum LOT for trades. It is in actual LOTs (not in percentages like in VolumeRisk).
  3. TakeProfitPips: is for setting the TP if the user wants (200 pips on default) but it’s not recommended because the EA can close the trades automatically.

Here are the inputs for the ATR (this indicator is for making the SL)

  1. ATRperiod: is for setting the indicator period (default: 14).
  2. TIMEFRAME: is for setting the indicator on which time frame to work. It can be set in minutes, default is 60 (H1).
  3. Value: is the number for setting the SL (default: 20000). The SL is created by multiplying the ATR with the set number. Example: if the ATR is 0.0015 then the SL will be 30 pips (0.0015*20000=30). The SL is also important to setting the trade size (LOT).

Test results:

Forex Super Hour Trader Robot


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