Think about trading by taking advantage of the currency pairs with highest or lowest strength? Well, the MT4 platform features a free EA that will help you do just that, without having to be in front of your computer at all times.
MT4 Cluster Expert Advisor is programmed to identify exactly the best and worst performing pairs and trade in such a way as to take profit of their evolution.
Features of the Cluster EA for MetaTrader 4
- Eight currencies
- StopLoss, but not TakeProfit
- CCFp downloaded separately
- No backtesting
The expert includes eight currency pairs and identifies the strongest and weakest to hedge potential risks. For instance, if the best performing currency is GBP, while the worst performing is CHF, the robot buys GBP/USD and USD/CHF.
MetaTrader 4 Cluster EA uses charts to monitor currency evolution and takes the decision to buy Xcurrency/USD when the line of X currency is at its highest. It also buys USD/Y currency when the Y currency is at its lowest.
You should know that, in terms of technical needs, you would have to download the CCFp indicator separately, from the MT4 and then compile it. This indicator is the one that actually follows the eight pairs and determines their strength, so it is fundamental for this robot.
The Cluster trading robot MT4 features SL, but TP is not available within this EA. And another important issue is that you can’t backtest it as such, since the process is applicable to one currency, and not all eight at the same time. So, if you think about using it, start small and see how it performs before venturing to higher stakes.
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