Forex Master EA is a fully automated trading robot for the MetaTrader platforms that comes with customisable settings. You can adjust the Forex Master EA to your preferences and risk levels. This Expert Advisor can be purchased from the MQL marketplace whilst there is a free demo version also available to give it a try before making any commitment. In this article, I will be taking a look at how the Forex Master EA works. Hopefully, that will help you to decide if this is a trading robot that you would consider using on your trading account.
Using the Forex Master EA
The Forex Master EA is the result of years of trading and research on thousands of strategies and forecasting indicators, all with the goal of creating the science of online trading engineering. By combining several strategies and algorithms in this robot, the EA tries to change each tick price with speed. An advantage of Forex Master EA is that you can start trading in any top currency pair & metal automatically as well as manually. The Forex Master EA employs a modified and risk-free grid level trading strategy. The built-in algorithm will constantly analyse the trading instruments on which chart the EA is applied, searching the charts for buy and sell signals. When the expert advisor finds an opportunity, it can place and manage trades on behalf of the user.
Forex Master EA Fetures
- Top Indicators such as RSI, Moving Average, Bollinger Bands, and Ichimoku Kinko Hyo Technical Indicators are used in trading.
- Grids with Fibonacci Levels and Pivot Points.
- Mode of Account Equity Protection.
- Works on all currency pairs including EURUSD, EURCHF, EURGBP, USDCHF, USDJPY, XAUUSD, and many more.
- The Smart Grid Closed Trading System.
- Gap Size in Smart Grids and Trend Following Trading System.
- Dynamic and static lot sizes for trading, as well as many other out-of-the-box features.
Forex Master EA Parameters
Lot Size Management
- Initial Lot Size = 0.01 //Lot Size for First Trade
- Dynamic Lotsize Status = true //Enable Dynamic Lot Size or Not
- Lotsize Increment = 0.01 //if Dynamic Lotsize Status is True then EA will Add 0.01 on Every new Lot Size.
- Static Lotsize Status = true //Enables Static Lot Size after certain Trades
- Static Lotsize Starts From = 15 //Static Lot Size from Nth Trade
- Grid Gap Size = 350 //Initial Grid Gap Size
- Dynamic Gap Status = true //Enables Dynamic Gap Size
- Dynamic Gap Starts From = 15 //After nth Trade Dynamic Gap will Effective.
- Dynamic Gap Increment = 50 //During Dynamic Gap it will increase 50 Pips on Every Gaps
Trade Close Management
- Take Profit = 350 //Initial Take Profit in Pips
- Group Take Profit ($) = 85 //Trades Close on Group Profit Hit
Whole Account Protection
- Net Account Profit Close Status = true //Enable Trades Closed on Net Account Profit
- Net Account Profit Close (%) = 10 //Trade Closes on Net Equity increase of 10%
Account Equity Protection
- Equity Protection = false //Enable Slippage Protection
- Max Equity Allocated (%) = 20 // EA Will Allocate Certain Percentage of Equity to Single Symbol of Currency
- Max Drawdown (%) = 10 // Maximum Drawdown Allowed
- Max Open Trades = 10 // Maximum Open Trades Allowed
Trade Signal Provider
- Trade Signal Provider = Moving Average //Trade Signal Provider
- Inverse Trade Signal = false //Trade on Reverse Signal of Signal Provider
Moving Average Inputs
- MA Period = 33
- MA Shift = 0
- MA Method = SMA
- Apply to = Typical
Bollinger Bands Inputs
- BB Period = 21
- BB Shift = 0
- BB Deviations = 2
- Apply to = Typical
Ichimoku Kinko Hyo Inputs
- Tenkan-Sen = 9
- Kijun-Sen = 26
- Senkou-Sen B = 52
Relative Strenth Index Inputs
- RSI Period = 21
- RSI Buy Level = 30
- RSI Sell Level = 70
- Apply to = Typical
Forex Master EA Summary
Overall, I see some potential with the Forex Master EA for anyone looking to trade the financial markets automatically in either of the MetaTrader platforms. The developer has shared some backtests for you to get an idea of how the Forex Master EA has performed over recent years through different market conditions.
It is important to note that past performance does not guarantee good results moving forward. Therefore, I would only test the Forex Master EA on a demo account using a trial version to begin with. This would allow me to get a feel for how it works and see if it fits within my own trading style. The Forex Master EA is also quite expensive compared to some other forex robots which I have previously reviewed.
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.