Forex Play

Forex Play EA is an automated Expert Advisor based on candles pattern and some metaTrader 4 standard indicators - Bollinger Bands, Stand Deviation etc.

• Money management - automatic lot calculation based on your risk per trade or manually set;
• Broker SPY Module (Hidden Take Profit and Stop Loss);
• Spread and Slippage Protection;
• High Trading Frequency;
• Flexible input options to use on different currency pairs;
• This system uses no grid, no martingale, no arbitrage, no hedges, no tick scalping;

Requirements and Recommendations

Tested on EURCHF M5.

Parameters

• Distance from BB for open orders, pips — Value from 0 to 4. EA checks the distance after the price passed the Bollinger Band upper/lower range.
• Period — Bollinger Band parameter, value = 9.
• Deviation — Bollinger Band parameter, value = 2.
• Price Type — Bollinger Band parameter, value = Weighted price.
• Shift — Bollinger Band parameter, value = 0.
• Use additional checking for open orders — additional standard deviation check, value = false.
• Timeframe for addition checking — StdDev parameter, value = current.
• Period — StdDev parameter, value = 9.
• MA method — StdDev parameter, value = Simple.
• Applied price — StdDev parameter, value = Weighted price.
• Range of standard deviation — EA parameter to limit trades when strong trend, value = 0.0013.
• Shift — StdDev parameter, value = 0.
• Use checking of reverse candle for signal — enabling this option will check for opposite candle before opening position, value = false.
• Max orders — maximum positions EA will open, value = 10.
• Max buy orders — maximum buy positions EA will open, value = 5.
• Max sell orders — maximum sell positions EA will open, value =3.
• Maximum spread — maximum spread, value =1.
• TakeProfit, pips — take profit, value = 0.
• StopLoss, pips — stop loss, value = 0.
• Slippage, pips — slippage, value = 3.
• Use close by opposite signal — close if opposite signal, value = true.
• Use close by MA cross — EA automatically close the open trade on the current chart middle Bollinger Band line, value = false.
• Use hidden take profit — hidden take profit, value = true.
• Hidden takeprofit, pips — take profit level, value = 12.
• Use hidden stoploss — hidden stop loss, value = true.
• Hidden stoploss, pips — stop loss level, value = 37.
• Fix lots — manual money management, option to set the position size, value = 0.
• Use MM — auto money management, EA will automatically calculate the position size, value = true.
• % from equity — percent of the account to be used for each additional trade, value = 2.
• Trailing Stop — not recommended, value = false.