ARGOLab is glad to present today a free forex trading robot Forex Tramp Pro. This is an updated and extended version of our popular free Expert Advisor Forex Tramp https://www.argolab.net/forextrampea.html
Forex Tramp Pro is a martingale EA that trades breakouts of the price from the trading channel. First of all, EA determines the trading range (channel), in which the price spends most of the time. When the trading range is determined, EA sets pending orders on its borders, buy-stop on the upper border and sell-stop on the lower border. All trading orders have take-profit and stop-loss levels. When the breakout occurs, one of the pending orders is triggered and goes into market. Only one trading order can be in the market at a time. If the breakout turns out to be a false one, the order is closed by its stop-loss. In order to compensate this loss, the volume of the next order is increased. When the take-profit is reached, the obtained profit compensates the losses of the previous orders and the additional target profit is gained.
Recommended pairs: AUDUSD, EURJPY, EURUSD, GBPUSD, NZDUSD, USDJPY.
Recommended money management: deposit 5,000 (USD or USD cent) for starting lot 0.01 (1 lot = 100,000) for trading with all recommended pairs.
Additional information about Forex Tramp Pro is available on our forum: http://forumargolab.net/threads/forex-tramp-pro-eng.540/
Forex Tramp: Settings
SETname: The name of the current set. For example, if we set SetName = My Dream Set, the name “My Dream Set” will be displayed in the information panel of the EA.
Flag_Stop (TRUE/FALSE): If this flag is set to TRUE, EA will not open new orders after the current series of trades is closed with profit. It is used to stop trading, e.g., before holidays.
LotSize: Base lot size.
AutoMM (TRUE/FALSE): When AutoMM = TRUE, the base lot LotSize will be scaled by the ratio (Account balance)/ AutoMMEquity. So, for deposit $2000 and AutoMMEquity=1000, the starting lot of the basket will be LotSize*(2000/1000) = LotSize*2.
AutoMMEquity: AutoMM parameter.
MaxLotSize: Maximal allowed lot size. When this lot size is reached, EA will continue trading without increasing the lot size of the next orders. As a result, the series of trades will be closed with a loss.
If any condition below is met, EA will set up the flag that blocks starting new series of trades. In this case, the information panel will show the sign «Flag_Stop_Global is set».
MaxInstruments_Stop: maximal number of active currency pairs (i.e., pairs with a closed drawdown). If 0, then switched off.
MaxDD_Stop: maximal closed drawdown, in % of the current deposit balance. If 0, then switched off.
If the maximal drawdown as specified below is reached, EA will block trading on all pairs except the one with the drawdown larger than the threshold. In this case, the information panel will show the sign «Flag_Block is set». All pending orders will be deleted until the drawdown returns to normal.
MaxDD_Block: maximal closed drawdown, in % of the current deposit balance. If 0, then switched off.
Definition of the trading channel for placing the pending orders.
TF: timeframe (any standard timeframe, in min).
PeriodMA: period of MA.
PeriodATR: period of ATR.
Deviation: deviation from MA.
Definition of the trading channel for placing the pending orders, for flat market.
NLevelsSwitch: the number of orders closed in loss, for the definition of flat market.
PeriodMAT: period of MA.
PeriodATRT: period of ATR.
DeviationT: deviation from MA.
TakeProfit_Martin: adjusts the increase of the target profit after each false breakout.
Indent: Shift of the position of the pending orders from the trading channel borders.
IgnoreDDBeforeDate: The drawdown closed before this date will be ignored by EA in calculations of the volume of the next order.
GapeProtect (TRUE/FALSE): Activates the gape protection feature.
MartinType: a switch between two algorithms of calculating the volume of the next order.
Moving orders to break even.
UseBE: type of break even (None – switched off, FirstOrderOnly – only for the first order of the series, AllOrders – for every order of the series).
BEfact: trigger for breaking even (a number from 0 to 1).
Time for the first order
Adjusting the trading session time for the first order of the series.
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.).
Verbose (TRUE/FALSE): Enable/disable detailed output in the Experts tab of your MetaTrader 4 terminal.
comment_color: The color of the text in the information panel.
comment_fontsize: The font size of the text in the information panel.
comment_lineheight: The distance between the lines in the text in the information panel.
DrawLines: Draw the trading channel on the chart.
ColorUp: color of the upper border of the channel.
ColorLo: color of the lower border of the channel.
- Donateware for Forex Tramp Pro.
Good luck and happy trading,