Fiddler EA – multicurrency forex robot.

Today we would like to present one more of our freeware/donateware products, Fiddler EA. This is a fully automatic Expert Advisor (EA) for the MetaTrader 4 platform, designed for trading on forex market.

Type: fully automatic Forex Expert Advisor

Platform: MetaTrader 4

Year: 2013

Version: 1.2

Producer:   ARGO lab

License: freeware/donateware

Category: grid martingale, indicator

Currency pairs: EURUSD, GBPUSD, AUDUSD, NZDUSD, EURGBP, USDCHF, USDJPY

Timeframe: H1

Trading time: 24/5

Entries: first entry by market order, the following entries by pending orders

Deposit requirements:

from 6000$ for USD or EUR accounts with minimal lot 0.01

from 600$ for USD cent or EUR cent accounts with minimal lot 0.1

from 60$ for USD cent or EUR cent accounts with minimal lot 0.01

Recommended brokers:   RoboForexForex4youinstaforex,  AlpariFxOpen

 

  • Trading strategy:

This Expert Advisor belongs to the class of grid martingale systems. The first entry in the market is triggered by a signal obtained from two exponential moving averages (EMA), the slow and the fast one. The slow EMA is used for analyzing the general direction of the market, the fast EMA is used for entries. EA has two in-build strategies: trend-following and counter-trend ones. You can switch between them by flipping the parameter Reverse  (TRUE/FALSE). When the price crosses the fast EMA, the first trading order is placed. If the price moves against this order, EA increases the position, starting a grid (or basket) of long or short orders, each next order being opened at a better price than the previous one.  Each order of the basket has individual stop-loss level. All orders in the basket have the same take-profit level, which is automatically readjusted when the next order is added to the basket.  For money management, EA uses martingale with the lot multiplication factor LotMult. The recommended values of the parameter LotMult are from 1.6 to 1.8.

The EA is quite simple and robust. Trading simultaneously several currency pairs, EA brings good profit with very moderate risks.  However, one should always keep in mind that EA uses martingale, so that fulfillment of the minimal deposit recommendations is very important.

 

  • Settings:

Flag_Stop (TRUE/FALSE):  If this flag is set to TRUE, EA will not open new trades after the current basket is closed.

Reverse (TRUE/FALSE): If Reverse = TRUE, the first entry is counter-trend; if REVERSE = FALSE, the first entry is the trend-following.

Period_Fast: Period of the fast moving average

Period_Slow: Period of the slow moving average

GridStepPips: The distance between the next grid levels in the basket, in standard (4-digit) pips.

TakeProfitPips: The TakeProfit level of the basket, in standard (4-digit) pips.

StopLossPips: The StopLoss level of each order in the basket, in standard (4-digit) pips.

LotMult: The lot multiplier.

MaxGridLevel :  The maximal number of grid levels allowed.

LotSize:  The value of the first order in the basket.

Magic: A unique identifier used by EA to identify and manage his positions. If you use other robots on the same currency pair in the same Metatrader 4 terminal, make sure that each of them has a different Magic.

comment_color:  The color of the text in the information block of Forex Warrior in the upper left corner of your chart.

 

  • Back Tests:

GBPUSD

Fiddler 02

EURUSD

Fiddler 01

AUDUSD

Fiddler 03

More tests are complete with an EA.

 

  • EA Fiddler.

Fiddler 00

 

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