The Price Action Metatrader 4 Forex Robot uses a price action “no lag” strategy to initiate buy/sell market triggers.
It deploys a set of logic that analyzes market patterns, coupled with support and resistance on different time frames.
Moreover, it observes the relative size, position, shape, volume and growth of bars within the candlestick chart.
We recommend to start trading the Price Action forex robot on a free forex MT4 demo account before putting it to work on a live trading account.
It is the behavioral interpretation of price action that this robot uses to build a buy/sell trading strategy.
Strategy Tester Report
Find below the Price Action forex robot strategy tester report for the EUR/USD forex pair on the 4-Hour chart.
The EA made a total profit of $5323.70 from a total of 407 trades. The largest winning trade generated $561.30 in profits, while the largest losing trade generated a loss of-$193.04.
Bars in test: 10129 ticks modelled
Initial deposit: $10000.00
Total net profit: $5323.70
Total trades: 407
Largest profit trade: $561.30
Largest loss trade: -$193.04
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
Type: Price Action
Copy and paste the PRICE_ACTION.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)