Forex Fraus (for M1)
This software component for MetaTrader 4 is built to enhance the capabilities of your trading environment. This Expert Advisor serves as automated trading software. It is utilized to monitor financial markets and execute trades based on predefined algorithmic rules, enabling precise position management without the need for constant manual oversight.
How to Setup 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.
Description & Settings
The Expert Advisor is based on the Williams Percent Range indicator. It sells in the overbought zone and buys in the oversold zone.
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.
