Forex SUPERNOVA ELITE Expert Advisor review:
Forex SUPERNOVA ELITE Expert Advisor which does not use any indicators and employs four trading strategies. When you attach the EA on the chart of a currency pair, it opens two pending orders at a certain distance from the price and modifies them following the price upon the expiry of time prescribed in parameters. Pending order type is set in the EA’s parameters.
The EA does not use stop loss. All trades are closed by trailing stop or take profit. Function of the deposit drawdown limit protects your deposit. When this drawdown is reached the EA partially or fully closes orders (depending on input parameters).
Function of enable/disable multicurrency trading allows to reduce the load on deposit. If the EA is attached to several currency pairs and MultiTrades = false, then after appearance of an order on one of financial symbols the EA will remove all unused pending orders and start working on the currency pair of the triggered order. Recommended currency pairs: EURUSD, USDJPY, GBPUSD, USDCHF, EURJPY, USDCAD, AUDUSD. VPS server is required.
- LongsPosition – allow the EA to open long positions;
- ShortsPosition – allow the EA to open short positions;
- MultiTrades – enable/disable multicurrency trade mode;
- TypeOrder – pending order type: STOP or LIMIT;
- AutoDigits – enable/disable automated recalculation of parameters for 3-5 digits quotes;
- BalanceRisk – calculation of trading lot from the balance/free margin;
- FirstLots – initial trading lot if BalanceRisk = 0;
- TakeProfit – take profit in points;
- OrdersIndent – indent of pending orders from the current price in points;
- TimerModify – pending order modification timer in seconds;
- MagicNum – magic number for orders;
- MaxAttempts – maximum number of attempts to open an order;
- DelaySeconds – pause between attempts in seconds;
- Slippage – maximum price slippage;
- GridStepOrders – step of order grid opening;
- StepMultiplier – multiplier of order grid opening step; if = 1 the step is fixed;
- LotsMultiplier – lot multiplier for order grid; if = 1 the lot is fixed;
- Piramiding – enable/disable the function of order pyramiding application;
- StepPiramid – order pyramid step;
- BreakevenPiramid – breakeven step for order pyramid;
- TrailingStopGrid – trailing stop for order grid;
- TrailingStepGrid – trailing step for order grid;
- TrailinglStopPiramid – trailing stop for order pyramid;
- TrailinglStepPiramid – trailing step for order pyramid;
- RiskControl – enable/disable the risk control function;
- MaxDrawdown – maximum drawdown in percentage of the deposit;
- SizeClosing – partial closing of order volume; if = 100 all orders will be closed;
- ShowInfo – display/hide information on the trading;
- TextColor – displayed data color.
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)