Forex Fraus (for M1) Multi-Currency
Info
The Forex Fraus (for M1) Multi-Currency is a Expert Advisor for MetaTrader 4 that this ea is based on the original forex fraus (for m1) with added features for multi-currency trading and position management. Features:- Multi-currency trading: Trade up to five currency pairs simultaneously.
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) Multi-Currency
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
This EA is based on the original Forex Fraus (for M1) with added features for multi-currency trading and position management.
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: mfi forex expert advisor - another powerful expert for MetaTrader 4 traders.
This EA is based on the original Forex Fraus (for M1) with added features for multi-currency trading and position management.Also recommended: Magna Rapax: The Forex Pip Hunter - similar expert with strong performance on MetaTrader 4.
Features:
- Multi-currency trading: Trade up to five currency pairs simultaneously.
- Position limitation: Set a maximum number of positions for each pair to control risk.
Properties:
- Pair Symbol: Specify the currency pair to trade, e.g., EURUSD, EURCHF, EURJPY, CHFJPY, EURAUD.
- Max Number of Positions: Set the limit for open positions per pair.
Caution:
- Ensure correct spelling of pair symbols. Incorrectly spelled pairs will not function.
Example Pairs:
- EURUSD, EURCHF, EURJPY, CHFJPY, EURAUD. These are examples, and optimization is not provided.
Broker Compatibility:
- Tested with FXCM. Ensure compatibility with your chosen broker.
Disclaimer:
- Use this EA at your own risk. The author is not responsible for any losses incurred.
Additional Information:
- For XM.com Micro accounts, use the correct symbol format, e.g., EURUSDmicro, EURCHFmicro.
- Trailing Stop Function: If the trailing stop value is smaller than the broker's stops level, profit trailing may not work. Check the currency contract specification for the stops level to avoid 'OrderModify error 130' in the journal.
You may also like: Smart Ass Trade-V2 Forex Expert Advisor - excellent alternative for expert users on MetaTrader 4.
Source Code
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⚠ 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.