The Andrews Pitchfork Metatrader 4 Forex Robot is an automated forex trading software that employs a set of logic that hails from the use of three parallel trend lines.
These lines are critical in plotting levels of support and resistance, along with likely breakout points.
The EA draws the Andrews Pitchfork (yellow dotted lines) on the screen upon activation.
Once a trend is confirmed, the Andrews Pitchfork expert advisor selects three points which represents three consecutive peak and troughs.
Certainly, the Andrews Pitchfork forex robot can be used to trade breakouts above the upper trend line and breakouts below the lower trend line.
Strategy Tester Report
Find below the Andrews Pitchfork forex robot strategy tester report for the EUR/USD forex pair on the Daily chart.
The EA made a total profit of $18153.62 from a total of 138 trades. The largest winning trade generated $2433.48 in profits while the largest losing trade generated a loss of-$786.99.
Bars in test: 2587 ticks modelled
Initial deposit: $10000.00
Total net profit: $18153.62
Total trades: 138
Largest profit trade: $2433.48
Largest loss trade: -$786.99
Consecutive wins: 5
Consecutive losses: 1
MT4 Forex Robot Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Expert advisor
Input Parameters: PITCHFORK length (bars), PITCHFORK color, Enable “no loss”, When to move break even, How much pips to move sl, Lots size, MaximumRisk, DecreaseFactor, TrailingStop, Stop Loss, MagicNumber, TakeProfit, FastMA, SlowMA, Momentum_Sell, Momentum_Buy
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: Andrews Pitchfork
Copy and paste the Andrew’s Pitchfork.mq4 into the MQL4 Experts folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Experts (paste here)