Smart Money Concepts Robot

The Smart Money Concepts Robot uses advanced Smart Money Concepts (SMC) trading techniques to identify and follow the “smart money” in the forex market, aiming to potentially give you an edge over other traders.

In this comprehensive review, we’ll take a close look at the Smart Money Concepts Robot, examining its key features and settings, as well as its potential advantages and drawbacks. By the end of this review, you should have a solid understanding of what the Smart Money Concepts Robot is, how it works, and whether it might be a good fit for your trading style and goals.

Smart Money Concepts Robot Strategy

Smart Money Concepts Robot (SMC Robot) is an Expert Advisor (EA) that apparently uses SMC techniques to trade. The SMC Robot comes with SMC.ex4, 8 indicators, 5 preset setfiles, a template, and a document detailing the pairs and timeframe. The original price of the EA is $525.

Smart Money Concepts Robot
Smart Money Concepts Robot

The SMC Robot is a customizable EA that can draw order blocks on multiple timeframes and open multiple trades when the price comes back to retest the order block. It uses the close of the candle body to place the entry trade, and the condition to identify a valid order block is based on Break of Structure (BOS). The SMC Robot can identify both bearish and bullish order blocks, with blue arrows for bullish and red arrows for bearish.

Smart Money Concepts Robot Activity
Smart Money Concepts Robot Activity

The SMC Robot is designed to use Smart Money Concepts (SMC) techniques to trade in the forex market. SMC is a trading strategy that involves identifying the market direction and following the “smart money” or institutional traders. The SMC Robot uses order blocks to identify where the smart money is likely to be trading and uses retests of those order blocks to enter trades.

The SMC Robot can be customized to trade on multiple currency pairs and timeframes. Traders can use the preset setfiles to get started quickly or customize the settings to their liking. The SMC Robot can be used on any forex broker that supports the MetaTrader 4 (MT4) platform.

Smart Money Concepts Robot Features

  • It is a customizable EA
  • It uses Smart Money Concepts (SMC) trading strategy
  • It can draw order blocks on multiple timeframes
  • It can open multiple trades when price comes back to retest order block
  • It uses close of candle body to place entry trade
  • It identifies valid order blocks based on Break of Structure (BOS)
  • It identifies both bearish and bullish order blocks
  • It comes with SMC.ex4, 8 indicators, 5 preset setfiles, a template, and a document detailing pairs and timeframe
  • It can be used on any trading platform that supports MetaTrader 4 (MT4) platform
  • It can be customized to trade on multiple currency pairs and timeframes.

Smart Money Concepts Robot Settings

  • Stop Loss functions: Allows traders to set a stop loss level to limit potential losses on a trade.
  • Trailing stop functions: Allows traders to set a trailing stop that will follow the price as it moves in the desired direction, locking in profits.
  • Take profit functions: Allows traders to set a take profit level to automatically close the trade and secure profits.
  • Slippage: Refers to the difference between the expected price of a trade and the actual price at which the trade is executed. This setting helps to limit slippage and ensure trades are executed at the desired price.
  • Sessions time to trade: Allows traders to specify the time of day when they want the EA to trade. This can be useful for avoiding times when the market is particularly volatile or for targeting specific market sessions.
  • Money/Risk management: Allows traders to set the amount of money they are willing to risk on each trade. This setting can help to manage risk and protect account balance.
  • Spread filters: Allows traders to specify a minimum spread level that must be present before a trade is opened. This can help to avoid trading during times of high volatility or low liquidity.
  • Lot size settings: Allows traders to specify the size of each trade. This setting can help to manage risk and protect account balance.
  • Time/date filters: Allows traders to specify certain days of the week or dates when the EA should trade. This can be useful for avoiding times when the market is particularly volatile or for targeting specific market events.

Smart Money Concepts Robot Summary

The Smart Money Concepts Robot is an Expert Advisor that uses advanced Smart Money Concepts (SMC) trading techniques to identify and follow the “smart money” in the forex market. It comes with customizable settings, including stop loss, trailing stop, take profit, sessions time to trade, money/risk management, spread filters, lot size settings, and time/date filters.

One of the strengths of the Smart Money Concepts Robot is its ability to identify both bearish and bullish order blocks and to draw order blocks on multiple timeframes. It is also highly customizable and can be used on any trading platform that supports MetaTrader 4 (MT4).

However, the Smart Money Concepts Robot is not a guaranteed way to make profits, and traders should be aware of the risks involved in trading forex. Additionally, the Smart Money Concepts Robot is a relatively expensive tool, with an original price of $525. Demo testing the Smart Money Concepts Robot and applying good risk management settings can help traders assess its potential effectiveness and protect their trading accounts.

Overall, the Smart Money Concepts Robot may be a good fit for experienced forex traders looking for a customizable tool to help them follow the “smart money” in the market. However, traders should be aware of the potential risks and costs involved before using any forex EA.

Free Forex Robot