SMART SETGAP EA – works on daily charts for almost all currency pairs

:Introduction:

:Download demo version:

:How to get Live version:

:Input parameters:

:Testing results:

Introduction

I have created this EA based on Simple Moving Average line. It uses a safer version of Martingale technique and works on daily charts for almost all currency pairs. Forex trading is full of risk and this EA is no exception. Test it thoroughly before you put it on your live accounts. Good luck!

Download demo version

Download the demo version now.

How to get Live version?

I am currently giving live version to only those who create a Live account at FXChoice or Easy-Forex using my referral link. This way, I get the commission and you get to keep your money for trading. You can also purchase the Live version from me for a small price but you need to contact me for the same. In case you decide to create the Live account with FXChoice or Easy-Forex, please contact me with your account number so I can send you the Live version. Note that Live version is available only for one account per purchase. Your account number will be hard-coded into the EA once you satisfy the above conditions.

Input parameters

Please run this EA on daily chart only. It is hard-coded to run only on daily charts. Please DO NOT run the EA directly on Live accounts. Always run it on demo accounts first. Following picture shows the input parameters. Don’t change anything other than the ones highlighted in yellow. If you have an account greater than 10K in size, you can think of using higher lot sizes but please don’t do it without testings. This EA can occasionally run into big losses. The maxSpread variable will allow you to keep the EA from opening traders when the spreads are too high. Use lower value if you want to use even smaller spreads. Don’t go over 50 as it is not tested for that yet. Keep in mind that this variable is in points and not PIPs.

input_parameters_snap

Other key points to note before you run this EA:

Here are some key points to note before you can use this EA successfully.

  1. Always run this EA on multiple currency pairs simultaneously. This is important because some pairs may generate loss and some will generate profit. In general the EA gives profit in the end due to high win ratio but to avoid temporary big losses, use the EA simultaneously on multiple currency pairs. Check out the testing results to see which pairs I am running it on.
  2. I am doing one more thing to increase profitability. I keep doing back testing for a period of 3 months at a time. Keep adjusting the actual pairs where the EA is run based on which pairs generated profit over last 3 months and which did not. This seems to work well in general.

 

Testing results

This EA is being run on the demo accounts at FXChoice and Forex.com. You can check out the performance at the following URLs:

FXChoice – Click here to see the EA in action on FXChoice demo account

Forex.com – Click here to see the EA in action on Forex.com demo account

 

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Risk warning: Before deciding to participate in the Forex market, you should carefully consider your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose. There is considerable exposure to risk in any off-exchange foreign exchange transaction, including, but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or currency pair. More over, the leveraged nature of forex trading means that any market movement will have an equally proportional effect on your deposited funds. This may work against you as well as for you. The possibility exists that you could sustain a total loss of initial margin funds and be required to deposit additional funds to maintain your position. If you fail to meet any margin requirement, your position may be liquidated and you will be responsible for any resulting losses.