If you want to trade using two of the most powerful indicators in the market, compiled in a single expert advisor, you may stop and download the OzFx Expert Advisor for MT4. It is free, it is quick, and it follows moving averages. But let’s see how it works and how you can use it to increase your profit on FX market.
Features of the OzFx Expert Advisor
- EUR/JPY based
- Bill William AC
- Stochastic Oscillator
- SL: 100 points
- TP: 50/100/150/200 points
- Lot: 0.1
- Estimated profit: 100-800 pips
How doesMetaTrader 4 OzFx Expert Advisor work?
So, the MetaTrader 4 OzFx Expert Advisor uses the two oscillators to determine the evolution and pattern of a certain currency and decides when to sell or buy, depending on these calculations.
Thus, the expert will get an alert for the buy when the green bar of the AC reaches 0 (from downwards) and the SO fast line is bigger than 50. The alert to sell is received when the red bar from the AC gets to 0 (from upwards) and the SO fast line is lower than 50.
This EA has the rule of opening five additional trades of similar volume with every new one. The developer included an SL signal at 100 points, while the TP differs depending on the number of the order.
Thus, the first order gets the signal at +50 points, the second, at +100, the third, at +150, the fourth at +200, while the fifth closes once it gets an opposite alert. Should the first order be profitable, OzFX trading robot takes all the other orders to the same profitable area.
While the EA is best tested with the EUR/JPY, it works with any pairs, and if a pair of your choice is missing, you may easily include it in the EA.
Not exactly what you are looking for? Choose another one here!