The Pinbar Metatrader 4 Forex Robot is an automated trading software that triggers buy/sell trading signals based on the popular Pinbar price pattern.
It is of noteworthy to state that the Pinbar forex robot is designed to work on all time frames and for any currency pair of your choice.
Test first on a demo account before putting it to work on a live trading account.
The “UseMoveToBreakEven” is a system function found on the Pinbar expert advisor which acts like a stop loss.
It’s somewhat used to lock in minimal profits and prevent loss when price does not go in your favor.
The Pinbar forex robot can be enhanced when the EA’s input values gets tinkered.
Strategy Tester Report
Find below the Pinbar Forex robot strategy tester report for the EUR/USD forex pair on the daily chart.
The EA made a total profit of $2673.21 from a total of 202 trades. The largest winning trade generated $163.68 in profits, while the largest losing trade generated a loss of-$108.32.
Bars in test: 2047 ticks modelled
Initial deposit: $10000.00
Total net profit: $2673.21
Total trades: 202
Largest profit trade: $163.68
Largest loss trade: -$108.32
Consecutive wins: 3
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, FastMA, SlowMA…
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Copy and paste the PINBAR.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)