Forex Mood EA

Forex Mood EA (available for MT4 only) and uses the lead indicator “Momentum”, as entry criteria to enter a counter trend position at oversold or overbought conditions.

Input parameters:

Open New Series:
If TRUE ea can open initial order.
If FALSE ea will not open new initial order.
Please note that if New Series is changed to false with open orders, Ea will continue to
manage open orders, including opening new orders in series until series closes in profit.
Trade Buy/Trade Sell:
Option to turn on/off either trade direction. GREEN = ON, RED = OFF
Please note that if you change while there is open orders, Ea will continue to
manage open orders, including opening new orders in series until series closes in profit.
Support Manual Orders:
If you want Ea to manage your manual orders set to true. If set to False, you must manage your manual trades independently. (Not Included in EA Antivirus or Locker).
Use Hedge:
If True, will allow Ea to open both Buy and Sell Orders Independently. (not traditional hedge trading).
Max Orders:
Maximum amount of orders you will open in a buy or sell series of trades.
Start Lots:
Lot size of first order of series, recommended Lot 0.01.
Use Money Management/ Autolot:
Auto lot sizing of first order in series, calculated based on free margin (not recommended).
Lot Multiplier:
Multiple used to increase next order when price is going against open position.
(Eg. 1.5 Lot Multiplier – 1st order = 0.01, 2nd order = 0.02, 3rd order = 0.02, 4th order = 0.03 etc. Please refer to the martingale file found in the telegram group files to understand risk).
Distance:
Distance in points from last open order to next order when price is going against open position. (Eg. 1st order buy at 0.92000, price moves down, 2nd order will open at 0.91800, and so on until price reversal to close series of buy trades in profit).
Max Lot:
Limit to maximum lot size that will open during a series of trades.
TP:
Take Profit set in points.
SL:
Stop Loss (available and used by some, but not recommended).
Trailing Start/Trailing Step:
Point at which profit will be locked in. For this feature to work Take Profit should be higher than Trailing Start. Trailing Step is the distance price will reverse before position is closed. eg. TP set to 400, Trailing Start set to 120, Trailing Step set to 20.
Buy at 0.92000, at 0.92120 Trailing Start will trigger. You will see Trail Line move 20 points below trigger to 0.92100. If price continues to rise, Trail Line will follow up, always 20 points below high. On 20-point reversal, order will close in profit.
Max Spread:
Ea will not open or close positions if spread is greater than the set value.
DD Reduction Algorithm:
If set to True, this feature will close last open position in profit with first open position in loss, effectively reducing open positions and distance of your grid. Much has been discussed about this feature within the group. Search the group for comments to learn more.
Number Order DD:
The amount of open orders before DD Reduction Algorithm will begin.
Percentage Profit DD:
The total profit difference between 1st losing order and last winning order to close the 2 position. This is by default set at 3%, but recommended to be increased to at least 5%.
DD Reduction Example:
With setting shown above DD Algo will enable after opening of 6th position. If there is no retracement additional positions may open. When there is a small retracement and the LAST POSITION is in profit (say $10.30) by 3% more than the FIRST POSITION (say $10) Both positions will be closed. (note at 3% you will experience a loss as the percentage difference will not cover commission/swaps/etc).

Panel Operation

From panel there are various options to change settings.

Strategy to choose or change from available options.

If Trade Buy / Trade Sell are green, they are ON for opening new series of trades. By switching either to Red a new series will not start.

Start / End Hour is available to set start and end times for Ea to open new series of orders.

Close Buy/Sell allows you to manually close all open trades at once of a Buy or Sell series.

New Series Green means Ea can open new series of orders. When Red, no new series will open.

Below EUR/USD pair strategy tester from 2020 01 to 2021 03

Below GBP/CHF pair strategy tester from 2020 01 to 2021 03

Below USD/CHF pair strategy tester from 2020 01 to 2021 03

Recommendation

Work Best On EURUSD, GBPCHF, USD/CAD, USD/CHF, USD/JPY.

Work best on 15 Minute Time Frame

The minimal deposit to trade with Forex Mood EA is

Regular $ accounts with minimal lot 0.01 (=$1000)

Cent accounts with minimal lot 0.01 (=10,000 cents = $100)

Here’s what you will get when you join…