The BEST FREE MT4 EA is trading the EUR/GBP currency pair on the M15 (15-minute timeframe). Developed using the Expert Advisor Studio, this EURGBP EA utilizes a combination of technical indicators to identify trade opportunities, focusing on short- to medium-term price movements. This FREE MT4 EA is optimized for a trend-following with momentum confirmation strategy. Here is overview of the strategy:
Trading Volume: The default lot size for each trade is 0.10 lots.
Stop Loss: Set at 55 pips to manage risk.
Take Profit: Configured at 95 pips to secure potential gains.
Indicators Used by the Best Free MT4 EA:
DeMarker Indicator with a period setting of 40 to identify overbought and oversold conditions.
Commodity Channel Index (CCI) with two variations: one with a 7-period setting and another with a 20-period setting, fine-tuned to detect market reversals.
Relative Strength Index (RSI) set at a 9-period with an overbought threshold at 87 to filter potential trade entries.
Have a look at our Free Expert Advisors Startup Guide before installing the robot.Disclaimer: This EURGBP EAis for educational purposes and is free to download. Get the BEST FREE MT4 EA and test it on a Demo account. Traders should regularly monitor the performance to ensure it aligns with expectations.
