It calculates an index in real time for each major currency (EUR, GBP, USD, JPY, CHF, CAD, AUD and NZD).
If the delta between the 2 index of the current pair exceeds a specific value, a position is open.
“FollowTheTrend” was written to trade any currency of your choice, good results are obtained with EURUSD, USDCAD, EURCAD, EURGBP, AUDUSD, NZDUSD, EURJPY Â¦
Don’t use a leverage over 100 on your account.
Parameters (the complete list is detailed in the manual available on request)
- FollowTheTrend: The EA will only trade the trend (24/5) of the pair (NOT NFP).
- NFP: The EA will only trade the Å“Nonfarm PayrollÂ according to the result of ADP reports (Wednesday before NFP announcement) and the ADP level parameter.
- Both: The EA will trade the trend (24/5) and the NFP.
Amount of lots per every 10,000 of free margin (risk)
This parameter is the risk factor. If the free margin on your account is 10,000.00 USD and if you set this parameter to 0.3, the EA will open per default a position of 0.3 lot.
All EAs have losses, if you choose a high value, your trading will be riskier. If you choose a lower value, your trading will be safer, but the gains may not compensate for losses. An optimum value can be selected between 0.3 and 0.5.
Martingale: Max levels (0: disable)
You can select the maximum level for the martingale (0 to 7). For each position, the EA set a virtual limit order ‘x’ pips above or under the price. This value is defined by “Delta for limit order” parameter until the maximum number of levels is reached or if the volume exceeds the “Volume max” parameter. Good results are obtained with a max martingale level greater than or equal to Ëœ5â„¢.
This parameter defines the coefficient of the martingale. The martingale will be increased with this value: first step, volume = 0.3, second step, volume = 0.3 x 1.6 = 0.48, total volume will be : 0.3 + 0.48 = 0.78 lots, and so on.
Martingale: Delta for limit orders
This parameter determines the price where the virtual limit order will be set.
Martingale: Activation range if HI/LO detected
If the limit order is not reached but a fractal HI/LO is detected the martingale will be activated if prices are within a range defined by this value.
Trailing Stop Start Level (ticks)
The trailing stop maintains a stop loss at a precise distance below (long position) or above (short position) the market price. This stop loss is adjusted continually based on fluctuations in the market price. If you start the trailing stop as soon as the position become profitable, you will never do substantial gains. Enter here the number of pips to reach before activating the trailing stop.
Freeze EA during important Economic News (high volatility)
News announcements and high volatility periods are the enemy of this EA. It downloads automatically every day (Forex Factory) the economic calendar and select important news. The EA is automatically frozen 30 min before and 90 min (default values) after the announcement.
Enable sound alert when a position is opened
An audio message Å“Open PositionÂ will inform you that a position is opened.
Send a notification when a position is opened
A notification will be send to your mobile device when a position is opened. You must configure MT5 notification options.
Display Multi Currency Trend
Display or not the trend index calculated for each major currency.
NFP: Open a position if result of ADP report is greater than
If ADP report announcement generate a reaction greater than this value on the pair, the EA will trade the NFP in the same direction (the EA opens a position 10 secs before the NFP announcement).
We hope that this EA will generate a lot of profits for you.
If you have any further questions or suggestions, don’t hesitate to contact us at this email address: infos@BPASoftware.com.