Forex Fraus (for M1)
Info
The Forex Fraus (for M1) is a Expert Advisor for MetaTrader 4 that the expert advisor is based on the williams percent range indicator. It sells in the overbought zone and buys in the oversold zone.
Usage
This tool is typically used for automated trading on major forex pairs and gold.
Platform
This Expert Advisor works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Experts folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use Forex Fraus (for M1)
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
What this tool does
The Expert Advisor is based on the Williams Percent Range indicator.
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 4. Place the file in the MQL4/Experts folder and restart the terminal.
Description & Settings
Related: The Smart Ass Trade-V2 Forex Expert Advisor - another powerful expert for MetaTrader 4 traders.
The Expert Advisor is based on the Williams Percent Range indicator. It sells in the overbought zone and buys in the oversold zone.
Also recommended: Forex Fraus Slogger - similar expert with strong performance on MetaTrader 4.
The Expert Advisor was created for the М1 timeframe of the EURUSD (five digits), but it can also be used for others, there is a Trailing Stop with adjustable start time and step. There is also an operation timer in the EA's settings listed as "time" (if value is "0" — off, if value is "1" — on). "starttime" — EA operation start time according to the time of the terminal, "stoptime" — finishes operation according to the time of the terminal.Closes positions using the Trailing Stop, unclosed positions are closed during the opposite deal.
The EA was tested on a demo account, results were good (the statement was not preserved). The EA was not checked on a tester (the prehistoric computer can not run it). A great request to anyone who tests, please put the chart in the comments. Thank you in advance.
You may also like: Forex Fraus (for M1) Multi-currency - excellent alternative for expert users on MetaTrader 4.
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.