The Hacksaw Forex robot that runs on Metatrader 4 is an automated trading software that depends on the MACD versus signal line.
The expert advisor is cleverly scripted to ensure a bearish trend when the MACD dips below the signal line, else a bullish trend is triggered when the MACD spikes above the signal line.
The Hacksaw EA is rightly designed to reduce the likelihood of “fake outs”, alongside entering the market too early.
The robot relies on an algorithm that looks out for crossovers (which are more reliable when confirming prevailing trend).
The Hacksaw expert advisor for MT4 can be used in many markets and for varying trading purposes.
It is an incredible hands-off tool for traders wishing to reduce their screen time, but as well keep profits stable.
The EA made $3656.40 profit on the GBP/USD pair 4-hour chart from an initial deposit of $100000.
Feel free to tryout the robot on any major FX 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:
Magic Number; 1001, lots; 0.1, stop loss; 50.0, take profit; 999.0, trailing stop; 0, slippage; 3.
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 on a practice account first before running it on a real Forex account.
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Strategy Tester Performance Report
Find below the strategy tester performance report for the Hacksaw expert advisor attached to the GBP/USD 4-hour trading chart.
Strategy Tester Performance Highlights
The Hacksaw expert advisor made a total profit of $3656.40 ($100000 initial deposit) from 17 trades during the initial testing period.
The largest winning trade generated $1393.40 in profit, while the largest losing trade lost -$509.00.
See the test results report above for all details.
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Magic Number, lots, stop loss, take profit, trailing stop, slippage.
More Info About This Expert Advisor
Recommended Currency pairs: Majors & Minors
Trading Platform: MT4
Time frames: M30 – H4
Expert Advisor Type: Intraday & Swing
Copy and paste the expert advisor in the MT4 experts data folder.
Then restart the MT4 terminal and attach it to any chart.