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FOREX FLEX EA MT4 – Full Input Settings Analysis
Forex Flex EA is a highly regarded and proven completely automated forex trading system for the MetaTrader 4 (MT4) platform. The high-class system identifies and finds potential trading signals on charts, initiates and closes trades, and positions management for the user automatically. Combining advanced trading techniques with modern technologies, Forex Flex EA takes independent and well-informed trading decisions without any manual intervention, automating the trading process and boosting efficiency to a great extent.
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Trading Settings & Capital Management
- Initial Lot Size
Manual lot size is 0.01 (ManualLot = 0.01). - Automatic Money Management
Risk management is enabled (MM = on) with fixed risk per trade of 0.2% based on account balance. - Martingale Strategy
Martingale strategy is used by the EA with the lot multiplier set to 1.7. It grows the lot size by 70% for each losing trade (LotMultiplier = 1.7). - Trade Limit per Direction
Max 5 buy and sell trades simultaneously (MaxBuyTrades = 5, MaxSellTrades = 5). - Take Profit Setup
Take Profit is 29 pips (RealTakeProfit = 29). - Virtual Trading Mode
Virtual trading is enabled (UseVirtualTrading = true). The EA places virtual trades internally ahead of time as a form of backtesting trade signals prior to placing live orders.
Risk control and stop loss
- Account-Based Stop Loss
The EA will cease trading when account drawdown is 35% (DD_SL = 35%). - Pause After Stop-Out
In case stop-out occurs, the EA will pause trading automatically (PauseAfterStopOut = true). - Slippage Control
The maximum allowable slippage is 3 pips (Slippage = 3). - No Technical Indicators Used
All technical indicators are disabled. RSI, EMA, Stochastic, TDI, and Bollinger Bands are all set to false.
Time & Session Filter
- Allowed Trading Sessions
The EA can trade during the Asian, European (London), and U.S. (New York) sessions (TradeAsian = true, TradeLondon = true, TradeNewYork = true). - Order Close Time
Trades will close at 15:00 server time (CloseHour = 15). - Do not close after profit forcing
The EA won’t force trades to close automatically upon making a profit (CloseAfterProfit = false). - Minimum time between trades
There is at least 1-minute waiting time between two consecutive trades (Min_Between_Trades = 1 minute). - News Filtering
News-trading filter is turned on (News_Trading = true). The EA ceases trading 2 hours before and 2 hours after the release of high-impact news (MinBeforeNews = 120, MinAfterNews = 120).
Recovery & hedge strategy
- Hedging Enabled
Hedging is turned on (UseHedging = true), and hedge in both directions simultaneously (HedgeTogether = true). - Hedge Take Profit
Take Profit for hedge trades is 20 pips (HedgeTP = 20). - No Recovery Modes Used
Early recovery mode and late recovery mode are disabled (UseEarlyRecoveryMode = false, UseLateRecoveryMode = false). - Strategy Type
The EA is using the default strategy mode (Strategy = Default), and no strategy is specifically defined.
Key Takeaways
- Advanced Trading Strategies: Blends a number of strategies such as scalping, breakout, and momentum trading to trade profitably in any market condition.
- Integrated News & Time Filter: Offers a specific filter to control trading in volatile market events and specific time periods, enhancing risk control abilities.
- Complete Money Management: Provides sophisticated functions to control lot sizes, leverage, and other money parameters, with the aim to optimize trading performance and minimize risk exposure.
- Automatically Trading: Operates independently on the MetaTrader 4 (MT4) platform, automatically scanning charts, executing trades, and taking positions without any human intervention.