The Expert Advisor of the Forex Fraus is designed for scalping the EURUSD (for five-digit quotes) and adapted for the accounts with fast execution of orders.

Operation Principle

• When a signal is received, the orders are opened by accumulation using tick data;
• The robot does not apply indicators and other analytical systems. The signals are calculated using H1 and M1 chart processing results;
• The EA has three operation modes;
  • Normal: uses the filter for trend trading;
  • Turbo: uses the filter that eliminates most false signals;
  • Extreme: no filters used.
• Positions are closed by Trailing Stop;
• Not closed positions are closed at the opposite trade;
• Built-in adjustable risk management block. Depending on the balance, it monitors the size of the executed order, distributing risks;
• The EA features the cold start block. In case of a small balance, the EA automatically manages the number of opened positions relative to the risk management block data, as well as regulates the lot volumes depending on the balance to reduce the risk. After passing the risk-free trading level, the block is automatically disabled;
• It features a module for sending PUSH-notifications to mobile devices (after every trade it sends a message to mobile devices with the data on the current balance and profit).

Testing

• Download the free copy of Forex Fraus MAD DOG;
• Very important for testing - In the metaTrader 4 platform, go to "Tools" > "History Center" >"Required currency pair" and make sure that the quotes history of the H1 timeframe has been downloaded, as well as the quotes history of the M1 timeframe for the interval of testing range. Otherwise, the tester will show an incorrect chart;
• For a more accurate testing - go to your broker's site and download the history for the required currency pair on H1 and M1 (for example, one year long). Then import the history to the history center. If this is not done, the tester will show an invalid chart or the EA will not process signals at all;
• Open the strategy tester and choose the time interval to start testing;
• Select the timeframe;
• Select Every Tick mode;
• Set spread no more than 10 points, or the current if it fits within the range. Usually, for this pair it is 10 points (for five-digit quotes);
• Start the backtest.

Live trading

1. Attach the EA to the chart window;
2. Allow trading;

Very important: the EA does not work together with other Expert Advisors on the same symbol, as the operation algorithm gets interrupted. So, make sure there are no Expert Advisors in other windows!

Optimization note: The default settings are designed for EURUSD M1. If you want to use the robot on other currency pairs, be sure to test the EA in the tester before use.

Trading tip: Use the quotes history provided by your broker, which you are going to use for trading. Experience has shown that quotes differ among providers.

No additional actions are required for live trading. Contact me if you have any questions.

Data variables of the EA settings

• SL: Stop Loss
• TP - take profit;
• TrailingStop - trailing stop;
• UseSound - sound of Trailing Stop triggering (enabled/disabled);
• NameFileSound - name of the sound file;
• RiskPercent - risk in percents (lot size is calculated based on the account balance);
• maxLots - maximum lot used during the calculations of the risk management block;
• minLots - minimum lot used during the calculations of the risk management block;
• OperatingMode - available modes of the EA operation, Normal=1 Turbo=2 Extreme=3;
• Mode - select the operation mode;
• send_notifications - sends notifications (false - not allowed to send, true - allowed to send).