The Diamond Forex Robot is an automated expert advisor for Metatrader 4 that trades the market using the exponential moving average techniques, along with the Williams %R.
The expert advisor is optimized for the 5-min chart, as such can satisfy as an automated scalping strategy.
The Diamond Forex Robot for MT4 gives more weight to the most recent data and is able to react promptly to price changes.
Making it easy for investors to widely deploy it as a profitable expert advisor designed to carter for scalping needs.
Buy and sell market entries are triggered with the help of both the EMA & Williams %R algorithmic rules.
Interestingly, the EA is designed to help traders enter the market with a minimum deposit requirement.
The EA made $1635.88 profit on the EUR/USD pair 5-minute chart from an initial deposit of $1000.
Feel free to tryout the robot on any major Forex pair of your preference (EUR/USD, GBP/USD, USD/JPY, USD/CHF, USD/CAD…) along with minor pairs like EURGBP, EURAUD, GBPJPY, CHFJPY, NZDJPY, GBPCAD, etc.
Default EA settings:
Separator 1: trend settings, use ema trend: true, bars in trend: 1, ema trend: 144.0, separator 2: wpr settings, iwpr period: 46.0, wpr retracement: 30.0, use wpr exit: exit, separator 3: position settings, lots: 0.1, max trades: 2, stop loss: 50.0, take profit: 200.0, use trailing stop: false, trailing stop: 10, use profit exit: false, max profit bars: 5, magic numbers: 13131.0.
The default EA settings can be modified directly by editing the source code or changing the Forex robot’s input values.
It’s highly advised to test the expert advisor for MT4 on a practice account first before running it on a live Forex account.
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Strategy Tester Performance Report
Find below the strategy tester performance report for the Diamond expert advisor attached to the EUR/USD 5-minutes trading chart.
Strategy Tester Performance Highlights
The Diamond trading bot gained a total profit of $1635.88 ($1000 initial deposit) from 417 trades during the initial testing period.
The largest winning trade generated $67.23 in profit, while the largest losing trade lost -$39.62.
See the test results report above for all details.
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Separator 1, use ema trend, bars in trend, ema trend, separator 2, iwpr period, wpr retracement, use wpr exit, separator 3, lots, max trades, stop loss, take profit, use trailing stop, trailing stop, use profit exit, max profit bars, magic numbers.
More Info About This Expert Advisor
Recommended Currency pairs: Majors & Minors
Trading Platform: MT4
Time frames: M5 up to D1
Expert Advisor Type: Scalping
Copy and paste the Diamond expert advisor in the MT4 experts data folder.
Then restart the MT4 terminal and attach it to any chart.