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CHEETA FX MT4 – Full Input Settings Analysis
CHEETA FX, also known as Cheetah MT4 Expert Advisor (EA), is a professional MetaTrader 4 trading algorithm. It is an expert instrument that uses a strategic Grid Trading Strategy by opening buy and selling orders at regular intervals. This strategy builds a grid of trading positions systematically in order to take advantage of market movement.
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DETAILED ANALYSIS OF PARAMETERS
- LicenseKey: (hidden)
→ Used to activate the EA license. - EA_Name: CheetaFx
→ EA name to be displayed on the chart. - Use_Hour: Start End Hour
→ Trades only during specified trading hours. - StartTrade: 0
→ EA starts trading at 00:00 (server time). - EndTrade: 23
→ EA stops trading at 23:00 (server time). - Use_DbLots: 1
→ Mode 1: Borrows lot size based on multiplier (Martingale mode). - DbLots: 1
→ Starting lot if Use_DbLots = 2. (Not used in this config since mode = 1). - Lots: 0.01
→ Initial lot size of trade. - SL: 0.0
→ No Stop Loss (far too much risk if market is against you). - TP: 4.0
→ Take Profit at 4 pips — good for scalping or grid strategy. - Distance: 3.0
→ Price must move 3 pips from prior order before new trade. - Multiplier: 1.6
→ Each new trade is entered with 1.6x larger lot size (Martingale strategy). - MaxLevel: 20
→ Supports a maximum 20 Martingale levels — very high, suggests high risk when trading in deep trends. - LotsDecimal: 2.0
→ Number of decimal places to format lot sizes (technical parameter for precision of calculations). - MagicNumber: 163991
→ Unique identifier to mark this EA’s trades as distinct from others.
COLOR DISPLAY SECTION (UI)
- Gi_324: Yellow
→ Likely the color used to indicate open trading areas or order lines in play. - Gi_328: Red
→ Most likely refers to Stop Loss lines or Sell orders. - Gi_332: Lime
→ Likely means Take Profit lines or Buy orders.
Key Takeaways
- RSI Indicators: Utilizes two Relative Strength Index (RSI) indicators at different levels to determine ideal trading entry points by taking advantage of movements in market prices through momentum.
- Trade Execution: Executes trades at Reversal Points identified by RSIs for trend reversal or market correction when conditions of overbought or oversold are dominant.
- Risk Management: Focuses on determining the appropriate lot sizes and using stop-loss and take-profit orders to manage risks efficiently and protect profits.