- June 23, 2022
- Posted by: Forex Wiki Team
- Category: Free Forex EA
Forex Logic Day Trading EA Review
This Forex Logic Day Trading EA aims to pick up a small number of Pips aiming at a time zone with low volatility, and is suitable for the so-called “morning scan”.
We trade with a trading logic based on long-term forward and short-term contrarian.
|Time axis||5 minutes (M5)|
|Maximum number of positions||1 position on one side|
|Backtest period||2007.01.01 –2019.04.30|
|Double-decker / Nampin / Martin||None / None / None|
Best Brokers List
The Forex Logic Day Trading EA works with any broker and any type of account, but we recommend our clients to use one of the top forex brokers listed below:
|BROKER NAME||REGISTER||Year Founded||Headquartered||Leverage||Minimum Deposit||Regulating|
|1:1000||$5||ASIC, CySEC , IFSC|
🇧🇸 The Bahamas
|1:1000||$200||ASIC, SCB, FSA|
|1:Unlimited||$10||CySEC, FCA, FSCA, FSA, BVI|
|1:500||$200||FCA , ASIC, DFSA|
|1:500||$25||regulated by CySEC|
|1:400||$100||CBI, CSEC, PFSA, ASIC, BVIFSC, FFAJ, SAFSCA,ADGM, ISA|
Forex Logic Day Trading EA Setting
[Explanation of parameters]
Variable name Parameter name Default
lots Number of lots during simple profit operation (* 1) 0.71
tpPips Number of Pips expected to be acquired in one trade (* 2) 8.0
forceSlPips Forced loss cut Pips value specified at the time of market order (* 1) * 3) 35.0
forceTpPips Forced profit Pips to value specified at the time of market order (* 4) 0.0
maxSpread Maximum spread value allowed at the time of market order/settlement (* 5) 3.1
magicNumber Magic No (* 6) 2997927
slippage Allowance at the time of ordering Slip page (unit is the point) (* 7) 1
trendPrediction Strict trend judgment flag (* 8) strong
entryStartTimeH Entry start time (hour) (* 9) 0
entryStartTimeM Entry start time (minute) (* 9) 10
entryEndTimeH Entry end time (Hour) (* 9) 1
entryEndTimeM Entry end time (minute) (* 9) 0
forceExitTimeH Forced settlement time (hour) (* 9) 1
forceExitTimeM Forced settlement time (minute) (* 9) 59
Forex Logic Day Trading EA Results
(* 1) Regarding the number of lots, we recommend that you refer to the back test and operate with reasonable settings.
(* 2) This value is a value that is expected to be acquired, and in reality, it is almost always the case that Pips larger than this value are acquired or Pips that are smaller than this value are acquired.
(* 3) When you make a loss, you do not always lose the Pips specified here, and the EA logic may cut the loss at an early stage. Be sure to specify a value greater than 0.0.
(* 4) When making a profit, it is not always the case that you will get the Pips specified here, and you may make a profit at an early stage by the logic of EA. If 0.0 is specified, only logical profit will be obtained.
(* 5) When the spread exceeds this value, basically no new order or settlement will be made. The recommended value is the standard spread of the currency pair plus 0.1. If the compulsory settlement time has passed, the compulsory settlement will be performed regardless of this value.
(* 6) This is an identification number unique to this automatic trading software (EA). When using it at the same time as other automatic trading software (EA), change the setting so that it does not conflict with the magic number of other EA.
(* 7) 1 corresponds to 0.1 pips and 10 corresponds to 1.0 pips. If order failures such as requotes and off quotes occur frequently in the state of the default value, please consider increasing this value. However, please note that there may be a disadvantageous contract. As of May 1, 2019, this setting is valid only for GemForex and is6com (standard account), and unexpected slippage may occur in other accounts.
(* 8) Specify how strictly the long-term ordering is applied to the trading logic.
It is applied strictly in the order of strong, medium, weak, and none, and tends to reduce the number of trades. Please note that if none is specified, long-term forward-looking will not be considered and trading will only be done with short-term contrarian logic.
(* 9) The time-related parameter is the server time, not JST or UTC. If you do not understand the concept of server time, we recommend that you do not adjust this parameter and operate with the default value. These parameters must meet the following conditions at the same time, otherwise, no trade will take place.
-The parameter with H at the end is in the range of 0 to 23-The
parameter with M at the end is in the range of 0 to 59
In addition, overnight and overnight cannot be set.
[Recommended brokers] As of
May 1, 2019, Tradeview is recommended. If you are using is6com (standard account), please change max spread to 3.5.
[Request to XM users (important)]
The boundary between daylight saving time and winter time on the MT4 server of XM is different from that in the United States.
This means that there are times when it is different from the intention of creating Forex Logic Day Trading EA, so
please consider stopping the operation of Forex Logic Day Trading EA at the following times.
・ From the second Sunday in March to the last Sunday
・ From the last Sunday in October to the first Sunday in November
[Reference page for daily performance of Forex Logic Day Trading EA ]
The following URL has data that can be used as a reference for the daily performance of each currency pair of Forex Logic Day Trading EA.
The parameters used here are different from the recommended parameters, so please refer to them for reference only.
* Pips Eater is an EA that trades with the same logic as Forex Logic Day Trading EA.
Forex Logic Day Trading EA Free Download
We highly recommend trying the Forex Logic Day Trading EA for at least a week with ICMarket demo account. Also, familiarize yourself with and understand how this system works before using it on a live account.