The ForexHomeProfit mechanical trading system (FXHP-EA) is a trading expert written in the MQL4 language. The system is designed for automated trading in the MetaTrader 4 terminal on Forex trading accounts. The system, in general, includes two proprietary indicators and the expert Advisor itself.
The principle of operation of the system is as follows:
– on the hourly chart, the indicators generate Buy / Sell signals and transmit them to the Expert Advisor;
– the expert, having received the signals, waits for their confirmation. After receiving the confirmation, opens the corresponding order.
The system works with both 4-and 5-digit quotes (a fixed spread is recommended).
More detailed information about the system and its settings is available in the User Manual, after purchasing it
Set the Trailing_Point value within 19-21 points. So that the total value, including the allowed Stop Loss value, does not exceed 23-25 points.
It is recommended to trade one Lot. The Lot size, you can choose in the system settings.
If the order has given a drawdown, do not rush to close it. The system will close the order itself, upon reaching the conditions laid down in it. Since the market is cyclical, the closing of a sagging order can be at breakeven or with a minimal loss. During the period of subsidence, the system can open hedging orders. Drawdown can last a maximum of 5 business days.
Do not rush to withdraw profits. Let the system gain momentum.
It is not recommended to use the system on PAMM accounts where Rollover is provided (closing open positions at a certain time). If you decide to use it on such accounts, set the maximum allowed Rollover (from 7 days or more).
If you intend to use the system on accounts with 5-digit quotes, we recommend that you disable the function of using Cross signals (Use_Cross_Signal = false). Each brokerage company has its own terms and conditions. There are no perfectly identical conditions. Therefore, the system’s profitability readings may differ.
Do not forget, the system is configured for the EURUSD currency pair and the hourly chart (H1). By changing these terms, you do so under your own responsibility.