The XT EURUSD EA is an Expert Advisor (EA) developed for the MT4 and MT5 platforms, and specifically designed for trading the EURUSD currency pair on the H1 timeframe. It comes with trade management capabilities, risk management features, news filter integration, and customizable settings.
Whether you are a seasoned trader or a beginner, this review will provide you with valuable insights to help you make an informed decision on whether XT EURUSD EA is the right fit for your trading needs.
XT EURUSD EA Strategy
The XT EURUSD EA is an automated trading system available for MetaTrader 4 and MetaTrader 5 platforms. It is specifically designed for trading the EURUSD currency pair on the H1 timeframe. The strategy of the EA is based on price action, cycle strength, SMA strength, RSI, and two custom indicators that are built into the strategy.
The EA utilizes a pending order system, which is visible in the tester, and optionally includes a second system that can be activated inn its settings. It does not use risky strategies like grid and martingale, making it a more conservative option for traders. Additionally, it incorporates a news filter, which may allow it to avoid trading during high-impact news events or adjust its trading strategy based on market conditions surrounding news releases.
One of the strengths of XT EURUSD EA is its compatibility with any broker and the availability of a demo account for users to test its performance in a simulated trading environment. This allows traders to evaluate the EA’s performance and become familiar with its features before using it in a live trading environment.
However, it’s important to consider its weaknesses and note that the EA’s performance is subject to market conditions and factors that can affect the forex market. The effectiveness of the custom indicators and trading strategy may also vary depending on market conditions and historical data. Additionally, the effectiveness of the news filter in avoiding trading during high-impact news events may also depend on the timeliness and accuracy of news data.
XT EURUSD EA Features
- Compatible with MetaTrader 4 and MetaTrader 5 platforms
- Designed for trading the EURUSD currency pair on the H1 timeframe
- Strategy based on Price Action, Cycle Strength, SMA Strength, RSI, and custom indicators
- Utilizes a Pending order system, visible in the tester
- The optional second system that can be activated by changing a parameter
- Does not use risky strategies like grid and martingale
- Includes a news filter to potentially avoid trading during high-impact news events
- Can be used with any broker
- Offers a demo account for users to test its performance
XT EURUSD EA Settings
- Orders Max – Sets the maximum number of trades that can be opened.
- Orders Step – Specifies the distance in points between trades.
- Orders Profit – Determines the profit in account currency required for a position to be closed.
- Take Profit – Sets the take profit level in pips for individual trades.
- Stop Loss – Sets the trades loss as a percentage of the account balance.
- Trade Start/End Hour – Sets the start and end hour for trading.
- Trade Start/End Minute – Sets the start and end minute for trading.
- Trade Friday End Hour/Minute – Sets a different end hour and minute for trading on Fridays.
- Closing all orders (true/false) – Activates or deactivates the automatic closing of trades at the end of the day.
- Closing Time (text in format HH:MM) – Sets the closing time for opened trades in the specified format.
- Lots – Sets the lot size of opened trades on the trading signal.
- Lots Step – Specifies the additional lot size added to following trades.
- Slippage – Sets the allowed maximum slippage in pips for opening trades.
- Magic No – Sets the identification number for trades opened by the instance of the strategy.
- Max Spread – Activates the spread filter as a protection during important news and events.
- Show panel – Enables or disables the ability to hide the EA panel on the chart.
- Select risk mode – Allows the choice of risk level from Low, Medium, and High.
- Allow trading in holidays (true/false) – Enables or disables the ability to open new trades during holidays when the news filter is active.
- Trade Comments – Allows adding custom comments that will be visible for each order in MT4-MT5.
- NewsFilter (true/false) – Activates or deactivates the news filter for blocking new trades.
- doNotTradeBefore/AfterInMinutes (number) – Sets the number of minutes before and after news during which the EA cannot place new trades.
- ReportForUSD/EUR (true/false) – Enables or disables the inclusion of news for the chosen currency in the filter.
- AllowTradingOnHolidays (true/false) – Enables or disables the ability to open new trades during holidays when the news filter is active.
- FindKeyword (true/false) – Activates or deactivates the function to detect news with chosen keywords included in the name.
- FindKeywordList (text) – Specifies the list of keywords that must be included in high-impact news to trigger the news filter signal.
XT EURUSD EA Summary
XT EURUSD EA is an Expert Advisor (EA) designed for forex traders looking to optimize their trading strategy for the EURUSD currency pair. Its strengths include its trade management capabilities, risk management features, news filter integration, and customizable settings.
Through demo testing and applying good risk management settings, traders can validate its performance and fine-tune its settings for optimal results. However, like any trading tool, it also has its weaknesses, including potential losses during unfavorable market conditions. The XT EURUSD EA is a considerable for both seasoned traders and beginners who are looking for a flexible EA to implement into their trading strategies.
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