Momentum Forex Trading Expert Advisor is an automated forex robot usually being sold for 30$. This EA works on the Momentum indicator, which is a leading indicator on the forex market. To enter a position, the advisor uses the oversold or overbought conditions of this indicator, catching the mood of traders.
Please test in a demo account first for at least a week. Also, Make yourself familiar and understand how this momentum robot works, then only use it in a real account.
- Minimum standard account balance of 250$ .
- Work on any pair. (There are optimized preset for some pairs)
- Work best on M15 and H1 (Work on any time frame)
- For best performance this Forex Trading Expert Advisor should be online 24 hours, Recommend using a VPS (Reliable and Trusted FOREX VPS – FXVM)
- Low Spread ECN account is also recommended (Find the Perfect Broker For You Here)
- Open new series –> on/off beginning of a new seri
- Start lots –> start lot.
- Trade Buy –> allow the adviser to buy.
- Trade Sell –> allow the adviser to sell.
- Support manual orders -> allowed or not for EA manage manual orders.
- Use hedge –> allow the adviser to trade both direction buy and sell. If off only one trade direction.
- Use Money Management –> on/off use of automatic lot calculation.
- Autolot. Free margin for each 0.01 lot –> the amount of free margin for opening every 0.01 lots.
- Lot miltiplier -> lot multiplier for the following orders.
- TP -> take profit, in pips.
- SL –> stop loss, in pips from the first order.
- Trail Start –> activation of a trailing stop.
- Trail Step –> distance from the price when activating a trailing stop.
- DD Reduction Algoritm -> drawdown reduction algorithm it when last order with profit will be close with first order series with loss.
- Number order for DD Reduction Algoritm -> from which order the drawdown reduction algorithm is activated.
- Percent profit for DD Reduction Algoritm -> percentage of profit when closing orders in the drawdown reduction mode.
- Magic –> is a special number that the EA assigns to its orders.
- Fix distance –> fixed distance between orders
- Order dinamic distance -> from which order will the dynamic distance be applied in order.
- Dinamic distance start –> the starting value for the dynamic distance.
- Distance multiplier –> the dynamic distance multiplier.
- Start, End hour –> time for opening the first order.
- Maximum Lot –> maximum lot.
- Maximum spread –> the maximum spread for the adviser.
- Mom_Period –> period of the Momentum indicator.
- Up Level –> the reading of the Momentum indicator above which the EA sells.
- Down Level –> the reading of the Momentum indicator below which the advisor buys.
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