The Forex Velocity EA is a fully automated forex robot that uses a sophisticated Spike/Impulse Scalping Algorithm to trade in the forex market. This fully automated Expert Advisor is available for free download. The algorithm is designed to detect short-term extremes in price movement, and when it does, the Velocity EA strikes, jumping in and out of the market to try and make a few pips at a time. This EA comes with advanced features like a small stop loss, advanced break even, and trailing stop loss to ensure the safety of your trading capital while maximizing potential opportunities. Whether you prefer a fixed lot or an auto lot, the Velocity EA can adjust the size of your transaction automatically based on specified criteria.
Velocity EA Strategy
Forex Velocity EA has a unique forex strategy built into its trading algorithm that is designed to enter transactions only during strong impulse price movements in the forex market. This means that the EA will only open a trade when there is a sudden and significant change in price, which typically indicates a strong momentum in the market.
One of the key features of the Velocity EA is that it is designed to try and protect your trading capital. This is achieved by avoiding risky techniques such as martingale and grid trading, which can often lead to large drawdowns. Instead, the EA relies on a more conservative approach to trading that aims to maximize opportunities.
The Velocity EA identifies a strong impulse price movement, which will enter a trade with a small stop loss and an advanced break even plus trailing stop loss. This means that even if the trade initially goes against the EA, it will be closed out at a breakeven point, preventing any significant drawdowns.
Furthermore, the Velocity EA is capable of trading with a fixed lot size or using an auto lot size, which can be adjusted automatically based on specified criteria. This allows the users to adjust its position size based on their own risk presences.
Velocity EA Features
- Minimum account balance requirement of $100
- Default settings optimized for GBPUSD and EURUSD (though it can work on any currency pair)
- Developed to run on M1 timeframes (but can be used on any timeframe)
- May be susceptible to slippage, spread, and slow execution
- Low spread, slippage, and quick execution forex broker account is recommended for optimal performance
Velocity EA Settings
- Money Management Dynamic lots
- Risk Setting (Dynamic) 0.5
- Fixed Lot Size 0.01
- Max Spread Live (Pips) 3.0
- Max Spread Avg (Pips) 2.8
- Trade Direction Reversal
- Entry Order Type Pending Stop
- Order Offset 2.0
- Trail Pend true
- Min Spike Size (Pips) 14.0
- Max Spike Size (Pips) 60.0
- Max Spike Time (Seconds) 60.0
- Max Fill Time (Seconds) 35
- Deviation 1 0.15
- ATR Multiplier 1.3
- Target Profit (Pips) 0.0
- Initial Stop (Pips) 5.0
- Trailing Stop (Pips) 2.5
- TS Activation (Pips) 0.0
- Correct Initial Stop Loss false
- Use Break Even false
- BE Activation (Pips) 1.1
- BE Plus (Pips) 0.1
- Max Positions 1
- Attempts Per Bar 3
- Attempts Per Cycle 3
- Min Trade Spacing 10.0
- Initial Balance Account Balance
- Specified Balance 250.0
- Broker Digits 5 Digit Broker
- Trade Comment Velocity
- Magic Number 2542697
- 2 Part Entry Order false
- Expiration (Minutes) 0
- AdvancedOptions Advanced Loss Preventions
- Enable Time Out false
- Halt Max Spike Size (Pips) 60.0
- Halt Max Spread (Pips) 15.0
- Halt After X consecutive Losses 6
- Minutes to Halt trading 60
- Enable Capital Preservation false
- Manual Restart Required false
- Max % Loss Allowed Per Day 5.0
Velocity EA Summary
Overall, Forex Velocity EA is a sophisticated Spike/Impulse Scalping Algorithm that is designed to trade in the forex market. The EA is fully automated with an algorithm that is programmed to detect short-term extremes in price movements. It then strikes, making small trades in and out of the market for a few pips at a time. The EA comes with advanced features such as a small stop loss, advanced break even, and trailing stop loss to try and maximize opportunities. It uses a conservative approach to trading and does not rely on risky techniques like martingale and grid.
Additionally, Velocity EA uses advanced algorithms to analyze market trends and identify trading opportunities, entering transactions only during strong impulse price movements. The EA can trade with a fixed lot or use an auto lot size that adjusts automatically based on specified criteria.
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.
