The EURUSD EA, part of our Top 10 Forex Robots Pack, is specifically designed to operate on the 15-minute (M15) timeframe. This Free Forex EA employs a trend-following strategy combined with momentum analysis. It is optimized for EUR/USD currency pair trading and aims to capitalize on short- to medium-term market movements. Here is a brief overview of the strategy:
- Lot Size: The EA defaults to an entry volume of 0.10 lots per trade.
- Stop Loss: Fixed at 30 pips, ensuring controlled risk exposure.
- Take Profit: Set at 60 pips, allowing a favorable risk-to-reward ratio of 1:2.
- Trailing Stop: Dynamically adjusts the stop-loss to lock in profits as the price moves favorably.
- Indicators Used:
- Alligator Indicator:
- Consists of smoothed moving averages (SMMA) applied to the median price.
- Detects trends and market momentum through the alignment of the lips and jaws.
- Commodity Channel Index (CCI):
- Measures deviations from the average price.
- Identifies overbought or oversold conditions, helping refine entry and exit points.
- Alligator Indicator:
Check out our Free Expert Advisors Startup Guide before installing the robot.
Disclaimer: This Free Forex EA is for educational purposes and is free to download. Get the trading robot and test it on a Demo account. Traders should regularly monitor the performance to ensure it aligns with expectations.
