RobotFX MACD

The RobotFX MACD expert advisor ideology is meant for the traders that are familiar and use the moving average convergence divergence (MACD) indicator in their trading decisions. The MACD EA is easy to set up and use, as it can be seen from its settings below.

The MACD expert advisor uses the Stochastic indicator for entry confirmation

To make sure the expert advisor trades in the right direction (ie with the trend) the trader can choose to follow the trend given by the same MACD settings used to enter/exit the trades. The trader can choose any other values depending on the traded pair. The trading signals are based on the intersection of the MACD’s signal line and the main line.
Following the trend, the EA sells when the MACD main line drops below the signal line and it buys when the main crosses the signal, up. The stop-loss and the take-profit are set immediately after the trade is opened, making this expert advisor compatible with the ECN brokers.
The trader has also the option to use the Stochastic indicator to confirm the entries and/or the exits. In the example below, using the default settings settings, the MACD EA opened three trades (maximum allowed) when the trend was up, the MACD raised above the signal line and the Stochastic was oversold, and managed to close one by trailing stop and the other two at take profit.

RobotFX MACD EA can identify the trend and enter trades accordingly by following the MACD indicator

To better manage the trades, the EA can limit the number of the total opened trades and it can also close the opened trades at opposite signals.

Watch how RobotFX MACD works

RobotFX Trailing Stop

The Trailing Stop expert advisor has been created to help traders manage winning trades and baskets of trades, by trailing the price once it goes in the trader’s favor. The main idea that led to this Trailing Stop EA was that many traders are not so good at managing winning trades. While sooner or later every trader learns how to spot the trend, when to enter a trade, what forex news to trade and so on, many traders are closing their trades when they shouldn’t.
It often happens that traders get too greedy or too scared and so they poorly manage an opened trade. Unfortunately, managing an opened trade is much harder than opening a trade. When this happens, the winning trade is usually closed:

• Too late, after the profit decreased considerably or even became negative profit (loss)
• Too early, before the trade’s profit will reach its highest amount possible

By trailing the price with the stop-loss, traders ensure that profit has been locked at certain levels

Using the RobotFX Trailing Stop expert advisor for Metatrader, traders can cash in safer without having to continuously monitor their trades.

So the purpose of the Trailing Stop EA is to eliminate those frustrating situations when you close a trade earlier than you should and the price continues to go in your favor, or when you wait for to long and the price reverses, so your winning trade becomes a losing trade.
The expert advisor trails the price using various methods:

• After a number of pips or points (the classic trailing method)
• At the last candlestick’s end (+ a buffer in points)
• Trails using Metatrader’s indicators: MA (moving average), PSAR (parabolic stop and reverse), fractals, ATR (average true range)
• Trails using a percentage of the profit

Below are few examples how the EA trails the price using these methods.

Trail the price using the ATR indicator

Trail the price using the previous candle

Trail the price using a fix amount of pips

Trail the price using the Fractals indicator

Trail the price using a moving average

Trail using the PSAR indicator

RobotFX Trailing Stop Settings

It is important to specify that the trader has the ability to change (within the expert advisor’s settings) the indicators values as well as the timeframe they are applied to. Also, that the expert advisor can trail multiple trades (basket) of the same kind.

Trailing Stop Expert Advisor Settings

• ClientEmail - if you already purchased this EA and want to trade it live, enter your email here
• Virtual Trailing - enable/disable virtual trailing
• Trailing Method - choose the preferred trailing method

1. Candlestick (aka chandelier) - trails the price using the last candle, placing the stoploss at the end of this candle
2. Fractals - trails the price using the fractals indicator, placing the stoploss at the fractal indicator level
3. ATR - trails the price using the ATR indicator, placing the stoploss at the ATR indicator level
4. Parabolic - trails the price using the PSAR indicator, placing the stoploss at the PSAR indicator level
5. MA - trails the price using the moving average indicator, placing the stoploss at the MA indicator level
6. Profit % - trails the price using the profit’s percentage (example: if profit is 500 pips and Profit % = 50, the stoploss will be placed at 50%*500, meaning 250 pips)
7. Points - trails the price using the points; use with Minimal Profit if Trailing Stop Points below (example: when profit reaches Minimal Profit if Trailing Stop Points, trailing will start and the stoploss will be placed)

• Trailing Stop Buffer - the stoploss will be placed at this distance from the signal (MA, PSAR, fractals etc.)
• Trailing Stop Step - the stoploss will be moved when the price will move this distance from the previous stoploss
• Minimal Profit if Trailing Stop Points - trailing will start after this amount is passed
• Trailing Stop from Breakeven - the stoploss will be placed and trailing will start only after price reached the breakeven level
• MagicNumber to Trail (-1 all) - if you want to trail trades opened by other EAs, enter their MagicNumber here
• Indicator Settings - set the values for the indicators used to trail the price, if any of them is chosen as Trailing Method

1. Timeframe - the indicators’ timeframe
2. ATR Period - Average True Range period settings
3. Parabolic Step - PSAR indicator step settings
4. Parabolic Maximum - PSAR indicator maximum settings
5. MA Period - Moving Average period settings
6. MA Method - Moving Average method settings
7. MA Price - Moving Average price settings
8. Profit Percent - profit percent settings

An expert advisor that can trade and trail all the above plus Heilen Ashi is the RobotFX Heiken Ashi EA.

Watch how the RobotFX Trailing Stop EA works

RobotFX OCO News

RobotFX OCO News was designed to trade news events in an OCO approach. OCO stands for one cancels other and refers to the EA’s ability to close a pending order (or more) once the price triggers an opposite pending order.
Traders trading the news usually place two pending orders right before an important news event - that is the most known and profitable way to trade forex news - a buy-stop and a sell-stop. During and immediately after the news the price is likely to move in either direction, up or down, therefore triggering one of the pending orders. After that, the remaining (opposite pending) order is deleted.

OCO = one (trade) cancels other (ie when the price triggers one of two pending trades)

The difference between RobotFX OCO News trading expert advisor and other one cancels other EA is that RobotFX can place multiple pending orders at a distance of your choice from each other. Also, it doesn’t miss the other important features that any good EA must have, like stoploss, take profit, breakeven, trailing stop etc.
As you can see in the picture above, the EA placed three pending orders of each kind, longs and shorts. Once the price will reach the first pending orders, the expert will close ALL the other opposite orders.

OCO news allows the creation of more than 2 pending orders, just before news release

Watch how RobotFX OCO News works

RobotFX Auto Recovery

RobotFX Auto Recovery is an expert advisor designed to recover the loss of a losing trade by opening an opposite trade, or more, if it’s the case. If you are familiar with, this is the trade management part of the RobotFX Fluid EA, with less features (HedgeZone). A very simple but effective way to hedge a losing trade so it will close if not in profit, at least at break-even. Basically it is a hedging expert advisor for MetaTrader.

Auto Recovery EA is basically a hedging EA designed to recover the loss from a losing trade

Technically, the Auto Recovery EA places an opposite pending order at the Recovery Zone distance (in pips) from the opening price, using a higher lot size. This replaces the classic stoploss which, when hit, leads to a loss. If the price doesn’t go in your favor - and so TakeProfit is not reached to close the trade - but instead reverses and hits the pending order, that pending order becomes an active order. At the same time, the EA will open another pending order, at the same level with the first one and of the same kind, but with (again) a higher lot size. Some traders like to call this advanced zone recovery (the area between the opposite trades) (shortly ALR EA).
The pending orders’ lot size is calculated so that the profit will always increase (if the price hits them and continues further).
Eventually the price will break in either up or down direction and the basket will close when the profit reaches MinProfit - this is in dollars. You have the option to set the MaxOrders to limit the total number of opened trades and also to instruct the EA to close all of the trades (ForceCloseAtMaxOrders) regardless of the profit (can be negative).
Check the picture below to understand how hedging works in forex trading. Mind that the lot size of the pending orders depends on the recovery zone width (the “RecoveryZone”) and the TakeProfit distance.

The recovery zone is defined by the trader, as well as the numbers of hedging trades allowed

• Enter your Client Email - fill this with your email IF you are using a paid version of this EA on a LIVE account
• RecoveryZone - the number of pips from the opened trade where you want the hedge order to be placed; technically it is the height of the recovery zone
• TakeProfit has 2 functions:

1. Normal take profit for the opened trades, if CloseTradesAtTakeProfit is set to true and the real profit is bigger than MinProfit
2. The ratio between this and the RecoveryZone can be used to calculate the next recovery trade order lotsize (UseHedgeMultiplier must be set to false). A ratio of 1:1 (for example RecoveryZone 50, TakeProfit 50) will make the hedging order to be double the size of the previous/initial order

• HedgeMultiplier - IF UseHedgeMultiplier is set to true, this is the multiplier used to calculate the size of the next hedging order, based on the previous one(s)
• HedgeSingleOrder - if enabled, it will set the hedging lotsize based on the last order lotsize instead of considering the entire baskets of opposite trades
• MaxOrders - the maximum number of recovery trades allowed to be opened by the EA; use as a safety measure to restrict the EA opening too many trades, such as when a consolidation zone occurs
• MinProfit - minimum profit which, once reached, allows the EA to close a basket of trades (see CloseTradesAtMinProfit) or a trade at TakeProfit level (although at this point the profit should already be higher than MinProfit)
• BreakEven - once the price will move in your favor this number of pips (away from the opening price), the EA will set the stoploss at the trade opening price
• UseHedgeMultiplier - whether or not to use a lotsize multiplier for the hedging orders, instead of the ratio between the RecoveryZone and the TakeProfit
• HedgeMultiplier - the lotsize multiplier for the hedge orders, if the UseHedgeMultiplier is set to true
• WhenMinProfitIsReached - choose what to do when the basket profit reaches the MinProfit:

1. CloseTradesAtMinProfit - once this profit is reached, the EA will start closing all opened trades on the chart. Set it to 0 if you want to close all trades at a cumulative break-even; however, please mind that between closing the first trade and the last one, the price might move and the profit (after close) might be slightly higher or lower than the MinProfit
2. CloseLosersAndSetBreakEven - close the losing trades and place the stop-loss of the winning trades at a distance defined by the trader (see below)
3. DoNothing - self explanatory

• TrailingStop for CloseLosersAndSetBreakEven (pips) - if #2 is triggered (above), this will be the trailing-stop for the remaining (winners) opened trades
• TrailingStep for CloseLosersAndSetBreakEven (pips) - if #2 is triggered (above), this will be the trailing-step for the remaining (winners) opened trades. Also, it defines the distance from the current price where the EA will place the stoploss (right after CloseLosersAndSetBreakEven will close the losing trades)
• CloseTradesAtTakeProfit - close trades at TakeProfit, if they are all profitable (ie profit > MinProfit)
• CloseTradesAtMaxOrders - whether or not to allow the EA to close all orders when the MaxOrders number is reached - will probably lead to some losses as the EA won't consider the profit and the MinProfit
• Slippage - the maximum distance, in pips, allowed for the price to move between sending a trade order to the server and execution (by the broker’s server)
• MagicNumber - leave this to -1 to trade manually (ie use the EA to hedge your personal trade) or set to match the MagicNumber of your other EAs (if you want the Auto Recovery to manage trades opened by other experts)
• TradeComment - use this to add a comment to the loss recovery trades opened by this EA, so you can monitor the logs easily
• ShowComment - displays information about the broker/trade(r)/basket on the chart
• ForceHedgeAtTradeOpenFail - if a hedge order is not triggered and the price “jumps” over it (example: gaps formed during the weekend) the EA will open a hedging trade and recalculate the recovery zone, the (other) opposite order etc.
• TestingLOTSIZE - applies only when testing the EA in the Strategy Tester and it defines the lotsize of the opened (first) random trade, as percentage of the entire equity (ie 0.01 = 1%, 0.1 = 10%, 1 = 100%)

Watch how RobotFX Auto Recovery works

RobotFX Renko EAs

The RobotFX Renko Chart is a bundle of two Metatrader renko expert advisors made to build renko charts and also to trade renko bricks. As you probably know already, the Metatrader doesn’t have renko bars, its defaults being candlesticks, line and bars.

This is how to trade with the trend on renko charts, in Metatrader

What can you do with these renko expert advisor?
- Create offline renko charts with custom (M) names, such as M2, M3, M4 (but not the default M1, M5, M15, M30)
- Continuously update these renko charts so the trader can trade manually or attach an expert advisor that trades automaticall
- Trade with the (PSAR) trend, open/close trades based on renko brick color

The Renko Charts EA is a MetaTrader expert advisor that allows the creation and use of the renko bars charts in Metatrader. As an experienced trader you probably know that the MT4 doesn’t have renko bars, its defaults being candlesticks, lines and bar charts.
The Renko Trader EA is a Metatrader expert advisor that can trade renko bricks. This EA has a trend detector and can be instructed to buy only in uptrend, or sell in downtrend. It comes with the possibility to use a fixed lotsize or a percentage of the free margin to open the trades, and all the other trade management features that traders use: break-even, stop-loss, take profit, trailing stop etc.

You can use any other expert advisor on the newly created renko chart, not necessarily our Renko Trader.

Watch how RobotFX Renko Chart EA works