- June 16, 2022
- Posted by: Forex Wiki Team
- Category: Free Forex EA
Forex Price Action Candlestick Patterns Robot
Forex Price Action Candlestick Patterns Advisor for major currency pairs, the developer recommends using the m5 and higher timeframes, each transaction is protected by an SL and has a TP, trading is measured, and although it occasionally places additional orders if the transaction goes in the opposite direction, it still shows amazing results with a reasonable drawdown.
What Is Price Action?
Price Action Trading (P.A.T.) is the practice of basing all of your trading choices based on a "naked" or stripped-down price chart. There will be no trailing indicators other than perhaps a couple of moving averages to assist identify dynamic support and resistance points as well as the trend. All financial markets create data on a market's price movement over various time periods, which is represented on price charts. Price charts reflect the views and behaviors of all market players (human and machine) during a certain period of time, and these beliefs are shown in the form of "price action" on a market's price chart (P.A.).
While economic statistics and other worldwide news events serve as drivers for market price movement, we don't need to examine them in order to trade profitably. The explanation is simple: all economic data and international news that drives price movement inside a market are eventually reflected via P.A. on the price chart of that market.
Using lagging price indicators like stochastics, MACD, RSI, and others is a waste of time because a market's P.A. represents all elements impacting that market for any particular period of time. All of the indications you'll ever need to construct a winning and high-probability trading method come from price movement. Price action trading methods are a collection of signals that assist you to make sense of a market's price movement and anticipating its future movement with a high enough degree of accuracy to offer you a high-probability trading strategy.
Recommendation
| Terminal | MT4 |
| Currency pair | ANY |
| Timeframe | ANY |
| Money management | At least 100 currency units for every pair |
Best Brokers List
The price action forex 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:
Price Action Forex EA Setting
Although the developer recommended a minimum deposit of 500 units of currency for each trading pair, we decided to make the testing more difficult and ran a backtest with a deposit of $100, which unexpectedly passed with flying colors.
Summary
In the tester, the adviser performs admirably, but keep in mind that this is just a test on past performance, and unfortunately, most such tests do not reflect true trading on a real account, because the tester does not account for a number of factors that occur in real live trading, and you should also keep in mind that scammers who optimize and customize the past performance of their robot, as a result, the adviser performs admirably in the real world.
He will be dissatisfied in the form of a deposit explosion and spent money on the advisor's purchase, therefore please always test the adviser on a demo account, and ideally on a penny account.
Nonetheless, we do not sell you this counsel; instead, we provide it to you for free, which eliminates at least one source of dissatisfaction. So, how does it operate in actual trading? I recommend checking it out and reaching suitable judgments; who knows, it may be a great robot or a terrible one; in order to understand it, you must test it out in real trading.
Price Action Forex Free Download
We highly recommend trying the price action forex robot 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.
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