Forex True Range Expert Advisor

Forex True Range Expert Advisor review:

Forex True Range Expert Advisor is an accurate night scalping & smart grid system with a double protection of account funds for daily trading.

Features:

  • Accurate night scalping & smart grid system
  • Stoploss for every position
  • 100% automated daily trades
  • Spread control
  • Overlap & Autolot system
  • Various progression types (off/arithmetic/geometric)
  • DDStop – loss control system

Recommendations:

  • ECN account 1:400+
  • Fast VPS
  • Timeframes: EURUSD M5
  • Min Deposit: $300-500/0.01l

Test results:

Forex True Range Expert Advisor

Parameters:

  • MagicId – unique number of the EA;
  • MaxSpread – maximum value of the spread for opening/closing orders;
  • MaxNumber – maximum number of orders for each direction;
  • MaxLot – max lot for each order;
  • MainLot – first order volume;
  • OpenOnBar – opening orders at the opening of a new candle (true) or when a given Grid level is reached (false);
  • CloseOnBar – closing orders at the opening of a new candle (true) or just when a given Takeprofit level is reached (false);
  • Start Hour, End Hour – time interval for opening first order;
  • Friday End Hour – the end time of opening first order on Friday;
  • Close Hour – closes all orders at selected hour (disabled if Close Hour<=End Hour)
  • RSI Period;
  • RSI Level – RSI upper level;
  • A Period – ATR period;
  • A Count – ATR depth;
  • A Factor (%) – ATR level;
  • Mode – the mode of calculating the lot value of the first order of the series:
    • ManualLot – the lot value of the first order in each new series corresponds to the value of MainLot;
    • AutoLot – the lot size of the first order multiply increases, based on the ratio of the size of the account funds and AutoLotSize.
  • AutoLotSize – amount of balance funds for each value of MainLot;
  • Progress – type of progression:
    • Arith – arithmetic;
    • Geo – geometric;
  • ArithFactor (Mode=Arith) – progression value;
  • GeoFactor (Mode=Geo) – progression value;
  • Grid (points) – the distance between orders;
  • Virtual Takeprofit (points) – Virtual Takeprofit
  • Takeprofit (points) – takeprofit level;
  • Stoploss (points) – stoploss level for each order;
  • Overlap – enable / disable the overlapping of the first losing order with the last profitable with a profit of OverlapPercent percent;
  • OverlapNumber – order number, starting from which it is possible to overlap orders;
  • OverlapPercent – profit from the last order when it overlaps the first unprofitable;
  • DDStop – the mode of closing all orders for the current instrument when the specified drawdown level of DDStopValue is reached:
    • None – the mode is off;
    • Currency – drawdown in the deposit currency;
    • Percent – drawdown as a percentage of the balace;
  • DDStopValue – currency units (DDStop=Currency), % of account balance (DDStop=Percent)
  • NewCycle – enable/disable a new series after reaching take profit;
  • ShowInfo – enable/disable information panel, breakeven and take profit levels (disable to increase the speed of optimization);
  • UpColor – color of the buy series;
  • DnColor – color of the sell series;

Download our other Free Forex Robots For Metatrader 4

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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