The Forex Home Profit (FX HP-EA) mechanical trading system is a trading expert written in the MQL4 language. The system is designed to conduct automated trading in the MetaTrader 4 terminal on Forex trading accounts. The system, as a whole, includes two author’s indicators and the expert himself.
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;
the expert, having received the signals, waits for their confirmation. After receiving confirmation, opens the corresponding order.
The system works with both 4 and 5-digit quotes (fixed spread is recommended).
More detailed information about the system and its settings is available in the User Manual, after its purchase
Tips and recommendations.
Open trading accounts with the maximum allowable Trading Leverage. As the leverage changes, the system will automatically change the Lot size for the new leverage.
It is recommended to use the system on accounts with 4- and 5-digit quotes with a fixed spread. For 4-digit quotes, the spread for the EURUSD pair is 2-3 points. For 5-digit quotes, the fixed spread for the EURUSD pair is within 10-20 points. The floating spread, due to its frequent changes, does not always correctly affect the indicator readings.
Set the Trailing_Point value within 19-21 points. So that the total value, including the allowable Stop Loss value, does not exceed 23-25 points.
It is recommended to trade one Lot. You can choose the Lot size 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. Because the market is cyclical, closing a sagging order can be at breakeven or with minimal loss. During the period of subsidence, the system can open hedging orders. Drawdown can last a maximum of 5 working 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 allowable 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 conditions. There are no ideally identical conditions. Therefore, the profitability readings of the system may differ.
Do not forget, the system is configured for the EURUSD currency pair and the hourly chart (H1). By changing these conditions, you do it under your own responsibility.