The Galaxy 5 EA is a fully MetaTrader 5 automated Expert Advisor that utilizes support and resistance, trend, and volume indicators to Identify and place trades in the forex market. In this comprehensive review, we’ll examine the Galaxy 5 EA and explore its features, strengths, and weaknesses. By the end of this article, readers will have a better understanding of the Galaxy 5 EA and whether it could be the right tool for their trading needs. So, let’s dive into the review and discover everything you need to know about the Galaxy 5 EA.
Galaxy 5 EA Strategy
Galaxy 5 EA is an advanced trading system that utilizes support and resistance, trend, and volume indicators to identify and place trades in the forex market. The forex EA trades on several currency pairs, including NZDCAD, EURCAD, USDCHF, AUDUSD, CADJPY, EURCHF, EURJPY, and GBPNZD on the H1 timeframe.
One of the key features of the Galaxy 5 EA is its use of trend and volume indicators, which can provide insights into market trends and momentum. Trend indicators analyze the direction and strength of price movements, while volume indicators measure the level of trading activity. By combining these two types of indicators, the EA can identify potential trade opportunities and determine entry and exit points. Also, the Galaxy 5 EA’s use of support and resistance can help traders analyze historical price data, whereby the EA can identify key support and resistance levels. Additionally, The EA doesn’t use any risky strategies including martingale, grid, and scalping.
Despite these strengths, the Galaxy 5 EA has some limitations that traders should consider. One of these limitations is its reliance on a single time frame for trading. The H1 time frame is suitable for day trading, but it may not be appropriate for traders who prefer swing or position trading. Another weakness of the EA is its reliance on technical indicators. While technical analysis is a considerable tool for predicting market movements, it does not consider fundamental factors such as economic events or news releases. Therefore, the EA’s performance may be affected by unforeseen events that impact the currency markets.
Galaxy 5 EA Features
- The Galaxy 5 EA is a fully automated expert advisor that operates on a sophisticated trading system.
- It operates on the MetaTrader 5 platform.
- It uses support and resistance indicators to identify potential entry and exit points in the market.
- The EA uses trend and volume indicators to analyze market data in real time and adapt to changing market conditions.
- It is a multicurrency expert advisor that trades eight different currency pairs, including NZDCAD, EURCAD, USDCHF, AUDUSD, CADJPY, EURCHF, EURJPY, and GBPNZD.
- It is designed to be run on the H1 time frame.
Galaxy 5 EA Settings
- Magic Number: A unique identifier for the EA’s trades
- Pair: The currency pair the EA will trade
- Expert Comment: A customizable comment attached to each trade
- Prefix Suffix: Customizable prefixes or suffixes to add to the currency pair name
- Auto Lot: Enables automatic lot size calculation based on account balance
- Risk: The percentage of the account balance to risk per trade
- Fixed Lot: The fixed lot size to be used if Auto Lot is disabled
- Min Lot: The minimum lot size the EA is allowed to use
- Max Lot: The maximum lot size the EA is allowed to use
- TP multiplier: Multiplier for take profit distance
- SL multiplier: Multiplier for stop loss distance
- Max Spread in Points: Maximum allowable spread for a trade
- Trading Start Time: The time of day the EA will begin trading
- Trading End Time: The time of day the EA will stop trading
- Trade on Fridays: Enables or disables trading on Fridays
- Allow Only One Order per Pair: Limits the EA to only one open trade per currency pair
- FTMO Randomizer: Enables a random delay in trade execution to prevent detection by FTMO’s funding program
- Max Drawdown to Close All: Closes all open trades when the account drawdown reaches a certain percentage
- Pips Distance to Trailing Stop Loss: The distance in pips for the trailing stop loss function to activate. If set to 0, the function is disabled.
Galaxy 5 EA Summary
Galaxy 5 EA is a fully automated multicurrency Expert Advisor that uses custom support and resistance, trend, and volume indicators to trade on the H1 timeframe. It can detect trend reversals and does not use any risky strategies.
However, it can experience drawdowns and may have limitations when it comes to other currency pairs or timeframes. Demo testing and implementing good risk management settings are crucial. The Galaxy 5 EA is suitable for experienced traders who understand the risks involved and want to try a unique approach to automated trading.
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.
