The free Backbone Forex Trend Robot is a winning expert advisor for Metatrader 4 that uses a fixed take profit, stop loss and trailing stop level.
All input values can be fully modified to suit your preferences.
The algorithm for the trading robot initiates trades that are opened step-wise in the opposite to the most recent closed positions direction.
The Backbone MT4 EA closes positions simultaneously when the stop loss, trailing stop and take profit levels are reached.
The EA stays profitable by making the duration of its profitable positions greater than those of its losing positions.
The EA made $9882406.34 profit on the EUR/USD 1-hour chart from an initial deposit of $10000.
The expert advisor works for any currency pair and time frame of your preference.
Default EA settings:
Max Risk: 0.5, nt max: 10, take profit: 170, stop loss: 170, trailing stop: 300
The default EA settings can be modified directly by editing the source code or changing the robot’s input values.
It’s highly recommended to test the expert advisor on a demo account first before running it on a real Forex account.
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Strategy Tester Performance Report
Find below the MT4 strategy tester performance report for the MT4 expert advisor attached to the EUR/USD 1-hour trading chart.
Strategy Tester Performance Highlights
The MT4 expert advisor made a total profit of $9882406.34 ($10000 initial deposit) from 2145 trades during the initial testing period.
The largest winning trade generated $85560.00 in profit, while the largest losing trade lost -$23220.00.
See the test results report above for all details.
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Max Risk, nt max, take profit, stop loss, trailing stop
More Info About This Expert Advisor
Recommended Currency pairs: Any
Trading Platform: MT4
Time frames: M5-D1
Expert Advisor Type: Trend
Copy and paste the expert advisor in the MT4 experts data folder.
Then restart the MT4 terminal and attach it to any chart.