If you are used to monitoring price trends on FX and want to make a trading strategy out of this, how about let a robot do the monitoring and trade based on signals from the market?
Introducing LeManTrend expert advisor for MetaTrader 5, an easy to set up, and a free robot that will help you with your Forex trading, while determining the trends by using price acceleration measuring. So, let’s see how this EA works and what it can do to help you increase your winning strategy on the FX market.
Working principles for Exp_LeManTrend EA
The robot follows the signals that the LeManTrend gives while monitoring the prices trends in three periods:
- Green line: price increase momentum
- Red light: price decrease momentum
- Green above red: up trend
- Red above green: down trend
How to get the EA
In order for the make this robot work, you will need to get the LeManTrend.ex5 and put it in the terminal data folder under the MQL5 Indicators. You may use the default data already included in the EA and take it for a test or include other algorithms at your choosing from the MT5 library.
Need another MetaTrader 5 EA? Pick from the table!
|Dark Cloud Cover and Piercing Line||Engulfing and MFI||Exp_Fast2||LeManTrend||Hammer and MFI|
|LibCustomChart||Lines CrossOver||Multik EA||Puria Method||Stars and RSI|
One thing you should be aware, though, is that before using this expert, you will need to check if your broker is compatible. Basically, if it offers a few trading options necessary in order for this robot to work:
- Nonzero spread
- Opening position combined with SL and TP
All in all, Exp_LeManTrend robot exhibited good results during the trial period, with developers using USD/JPY pair in H4 timeframe. However, this is a 2014 test, so do test it for yourself before actually putting it at work in the real market.