The Momo trades Metatrader 4 Forex robot is an algorithmic trader that is built on the trading idea of the iMACD (Moving Average Convergence/Divergence, MACD) Oscillator and the iMA (Moving Average, MA) trend indicator.
Combining the MACD and the MA indicator into a set of rules allows the Momo EA conveniently open automated buy and sell market positions.
The default settings of the Momo trades EA are fit for the EUR/JPY 1 Hour chart forex pair.
Just like any other trading robot, the Momo trades expert advisor is packed with a risk management feature, which allows it evaluate risk before executing any market order.
Strategy Tester Report
Find below the Momo trades robot strategy tester report for the EUR/JPY forex pair on the 1 Hour chart.
The EA made a total profit of $1702.92 from a total of 16 trades. The largest winning trade generated $1532.59 in profits, while the largest losing trade generated a loss of-$1307.55.
Bars in test: 2048 ticks modelled
Initial deposit: $10000.00
Total net profit: $1702.92
Total trades: 16
Largest profit trade: $1532.59
Largest loss trade: -$1307.55
Consecutive wins: 2
Consecutive losses: 2
MT4 Forex Robot Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Expert advisor
Input Parameters: Enable “no loss”, When to move break even, How much pips to move sl, Lots size, MaximumRisk, DecreaseFactor, TrailingStop, Stop Loss, MagicNumber, TakeProfit…
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: MACD | MA
Copy and paste the Momo_Trades_V3.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)