Forex Array Master easy Robot review:
- Platform: Metatrader 4.
- Currency pairs: any though EURUSD is preferrable.
- Taimeframe: M15.
- Trading time: around the clock.
- Recommended accounts: any with NDD, that is with smaller spread and greater speed.
- Let us assume that there is a bar and name it focus bar. This bar will be the counting origin and will be of a particular interest to us.
- We know that this bar, as any other bar or candle on the market, has Low (minimum closing price). Let’s say, for h (assume that h=10) bars to the left, this focus bar represents a minimum price, i.e. Low is the minimum and there is no price below that. That was how Unconfirmed zone was formed.
- We can calculate the probability of the price coming back to the zone formed by that minimum. According to the calculations by the Recurrent Statistic indicator, the probability is 77% for the interval of 10 bars before the focus one and 10 bars after it, for EURUSD on the M15 timeframe. That means that a probability of the price returning to the zone during 150 minute and Unconfirmed zone becoming a Recurrent zone is 77%. At the same time, there is remaining probability of 23% that for the following 150 minutes this zone can become a Tranzition zone as the price is not going to return there.
- The Hight of the zone is the distance between the High of the focus bar and the High of the above bar, which is located within h (where h is the zone length). Same is relevant to the zone below.The description might sound a little complicated but looking at the chart and applying what has been just said will make things clearer.
- If we take three bars to the left from the focus one and wait for other 100 bars, then probability of the price repetition will be 92%.
After such calculations, we can say that on the chart of EURUSD М15, the price minimum and maximum located below or above preceding three bars, will be repeated within 25 hours with probability of 92%. This information equips us with a good algorithm underlying this Expert Advisor.
Naturally, the Expert features protection from news, spikes and it takes the trend into consideration. For seldom occasions of mistakes, Martingale is built-in and it can be set up if necessity arises.
- Count of bars on the left – The number of candlesticks required to get to the focus bar. The less the parameter is, the more frequent entries are.
- Maximum height of zone – Entry to the zone, not exceeding this parameter in points. This parameter indirectly indicates the size of the profit. The greater that parameter is, the greater the profit is though the percent of successful deals is less.
- Strength of the trend – Parameter indicating the strength of market movement. The greater this parameter is, the more active the trend is. That means that entry takes place by trend with strength specified by this parameter.
- Lot – If the size of this parameter is set as 0.0, then the lot will be calculated based on the following parameter.
- Percentage of risk – Calculated based on deposit. Prices of a point.
- Trade start time\end time – If required, time limits can be specified.
- Boosting ratio of the volume of orders – If a deal is opened by Martingale, then the lot value will be multiplied by this parameter.
- false – trailing stop, true – take profit – Current mode.
- Trailing stop, points – Size of Trailing Stop.
- Take profit, points – Size of Take Profit.
- Step opening orders, points – Step of opening orders of the series.
- Boosting ratio of the next step – Coefficient of increasing the distance to placing the next order.
- Max drowdown percent – Maximum permissible drawdown percent. Upon reaching this level of free funds, all deals opened by this currency pair will be “locked” by the opposite order.
- Magic number – Unique number used for identifying orders in the Expert. Magic number is recommended to be installed for every currency pair.
- Magic number of lock orders – Similar. For locking orders only.
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)