Do you want to take advantage of different timeframes to increase your winning chances on the Forex market? And even better, use a robot to do the math and place the orders instead of sitting in front of a computer?
cAlgo platform offers such a solution with the mechanic Forex trading robot. This trades orders that are higher in a different timeframe, paired with your local timeframe. It is linked with the Candlestick Tendency indicator that will signal the robot to put orders.
- HighOrderTimeFrame – uses higher timeframe to decide the direction of the trend. The default TF is H1 and this needs to be four times bigger than the local one.
- Volume – to set the trading lot
- SL – default: 20
- EnableBreakEven – default: false
- BEPips – default: 10
- BEGain – default: 20
- EnableTrailingStop – default: false
- TP – default: 30
- EnterOnSyncSignalOnly – trade once both trends change direction at once
How to get started
In order to use this cAlgo mechanic bot, you will need to download the Candlestick Tendency, then install the robot. In the reference manager, put a reference to CT. Spotware will help you install this robot, just follow the instructions and you are set.
We used the Mechanic robot for Forex with a few parameters of our own: EUR/USD pair, in M1 timeframe. The High order set for hours and the trading volume set at 10,000. SL was set at 69, BEGain set at 20, TrailingStop, at 10, just like TrailingStart. TP set at five.
The results of this test were encouraging: most of the trades turned up to be successful, with a plus of over EUR 12,000.
Mechanic cAlgo robot doesn’t fit you? Pick another one here:
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