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FOREX Market WIZARD (Free EA)
This is an EA that operates on a 1-minute bar of the EURUSD pair. Generate big profits early with aggressive recovery trades.
Use the CCI indicator for entry.
Description
This EA is especially optimized for the EURUSD pair and trades on 1-minute bars (M1).
This EA is fully automated and executes trades without user intervention.
This automated trading expert advisor (EA) is provided completely free of charge.
As a main feature, this EA uses a grid trading strategy. A grid trading strategy is a method of setting buy and sell orders at fixed price intervals and securing profits every time the price fluctuates. This strategy allows you to make profits even with small market fluctuations.
This property allows you to generate profits very quickly.
Additionally, there is a mechanism in which additional positions function as recovery trades. This means that if the EA’s first position results in a loss, it quickly covers the loss by taking additional positions and eventually accumulates profits.
It also specializes in EURUSD pairs.
For example, EURUSD has high liquidity and a large trading volume, so it has the advantage of narrow spreads and low costs.
This allows you to maintain high profitability even with a 1-minute strategy that trades frequently.
Technical indicators used by automated trading EAs play an important role in increasing the accuracy of trades. This EA uses CCI (Commodity Channel Index) as the main indicator.
CCI is an indicator that measures the statistical deviation of prices, indicating how far prices are from the average. This indicator compares the current price with the average price over the past few periods and helps determine the strength of the trend and the possibility of a reversal.
The combination of fully automated trading, grid trading strategies, and recovery trading allows you to trade efficiently and profitably.
Attach an EA to the M1 chart of EURUSD on MT1.
parameter settings
・Lot_Size: Minimum 0.01 lot ~ Please set according to your account balance.
・Magic number: Normally, there is no problem with the default setting. This is the number that identifies this EA order within the account. If you use multiple EAs in one account, please set the magic number so that it is not the same as another EA’s magic number.
This EA operates while adjusting the lot size, so it cannot tolerate drawdowns if the account balance is too small or the lot size is too large.
We recommend starting with 2000 USD and 0.01 lot. Be careful when increasing lot size. The foreign exchange market changes rapidly and trading involves risk.
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