FX Lightning Expert Advisor - Multi-Currency Scalper
Hello, dear traders. We present to your attention the widely known in narrow circles forex expert advisor FX Lightning. Its distinguishing feature is multi-currency scalping. In this article, we will test all known versions of this expert advisor and choose the set that is optimal for stable profitability.
Expert Advisor Characteristics
Platform: Metatrader 4
Expert advisor version: 1.0
Currency pairs: AUDJPY, EURJPY, EURUSD, GBPUSD, NZDUSD, USDCAD, USDCHF
Timeframe: M15, H1 (depending on the set)
Operating time: around the clock
Recommended broker: Alpari (ECN accounts)
Installation Reference
We install the expert advisor as usual. If this is your first time encountering robots on Forex and you have a lot of questions, download and watch the course Forex on Autopilot.
In this expert advisor, the settings for each pair are already prescribed in the code itself, so we simply open the required pairs on the required timeframe and attach the expert advisor to each chart (the pair and timeframe are indicated in the name).
Expert Advisor Strategy
Trading style: scalping based on indicator signals. The expert advisor calculates overbought and oversold levels, and after filtering the signals, opens orders.
Expert Advisor Backtests
Backtests were done for each pair separately, since the Metatrader 4 platform does not allow multi-currency tests.
For the FX Lightning expert advisor, the spread is very important. During testing, the value of the spread typical for the pair was used, and then several runs were done with different spreads to determine the best results. Reducing the spread reduces the total number of trades, which gives fewer opportunities to work off losing trades, while too large a spread increases the number of losing trades and reduces overall profitability.
Tests were done with a fixed lot. Phrases like "H1 V2" are deciphered as "set V2 on timeframe H1" and correspond to the names of the sets.
AUDJPY H1 V2 LOT 0.1 2010-2013
The test results are acceptable
AUDJPY M15 V1 LOT 0.1 2010-2013
The test results are unstable
AUDJPY M15 V3 LOT 0.1 2010-2013
The test results are good
EURJPY M15 V1 LOT 0.1 2010-2013
The test results are unstable with any spread
GBPUSD H1 V2 LOT 0.1 2010-2013
The test results are good
GBPUSD M15 V1 LOT 0.1 2010-2013
The test results are good
GBPUSD M15 V3 LOT 0.1 2010-2013
The test results are acceptable
NZDUSD H1 V2 LOT 0.1 2010-2013
The test results are acceptable
NZDUSD M15 V1 LOT 0.1 2010-2013
The test results are acceptable
NZDUSD M15 V3 LOT 0.1 2010-2013
The test results are acceptable
USDCAD H1 V1 LOT 0.1 2010-2013
The test results are acceptable
USDCHF H1 V1 LOT 0.1 2010-2013
The test results are acceptable
USDCHF M15 V2 LOT 0.1 2010-2013
The test results are unstable
EURUSD M15 V1 lot 0.1 2007-2013
The test results are good
EURUSD M15 V3 lot 0.1 2007-2013
The test results are good
EURUSD H1 V2 lot 0.1 2007-2013
The test results are acceptable
Thus, you can assemble your own set of expert versions based on the tests performed and their evaluations.
Description of settings
- MaxTradesPerVersion - the maximum number of positions opened by this set on this pair
- MaxTradesPerAccount - the maximum number of positions opened across the entire account
- MaxSpread - the maximum allowable spread at which orders will be placed
- Slippage - the maximum allowable slippage at which orders will be placed
- MoneyManagement - automatic lot calculation by computing it as a percentage of equity. If fixed-lot trading is required, then this parameter must be equal to 0.
- FixedLot - sets a fixed lot for trading
- MaximalLot - sets the maximum allowable lot for trading
- Magic Number, Magic Number1, Magic Number2, MagicNumber3, MagicNumber4 - magic numbers for distinguishing orders in the expert advisor
Recommended money management
A 5% risk is recommended for any sets.
Summary
The FX Lightning expert advisor is a profitable multi-currency scalper that can be used flexibly by applying various sets across several pairs.
Attention! The spread is of very great importance for the FX Lightning expert advisor.
The value of the typical (average) spread for the pair +0.5 points should be taken. The value of the average spread is taken from the contract specifications table of your broker, and if this information is not available, then you can use a third-party service, for example, the myfxbook.com service
Important!
For the expert advisor to work correctly, the trading terminal must be turned on from the market opening on Sunday evening until its closing on Friday evening. If you do not have the ability to keep your computer running 24/5, then it is recommended to use a VPS server service.
Download the "FX Lightning" expert advisor
Important! Installation nuances for new Metatrader 4 builds
Respectfully, Alexey aka Merlin TradeLikeaPro.ru
Hello, dear traders. We present to your attention the well-known forex expert advisor FX Lightning.