The Algo Plus EA is an advanced forex trading robot designed for the popular MetaTrader 4 platform. It aims to capitalize on short-term volatility and trends using an intelligent algorithm.
In this comprehensive guide, we will explore everything you need to know about installing, configuring, and using this automated scalping system to potentially grow your trading account.
Overview of the Algo Plus EA
The Algo Plus EA was developed by a team of professional traders with over 10 years experience building algorithmic trading systems. It was optimized using real tick data to identify repeatable patterns.
The EA specializes in rapid entries and exits, aiming to bank many small profits over time. Thanks to solid money management, it works well with accounts of all sizes.
The Algo Plus expert advisor is designed to work efficiently with most ECN/STP brokers so you can take advantage of tight spreads and fast execution.
Key Features and Benefits
Some of the top features and advantages of using the Algo Plus EA include:
- Proprietary algorithm optimized for short-term scalping
- Ultra fast trade entry and exit logic
- Works best on 1-minute and 5-minute timeframes
- Built-in intelligent trade management techniques
- No martingale or grid money management
- Can trade multiple currency pairs
- Fully automated trading without manual intervention
- Detailed backtested trading statistics
- Dozens of customizable input settings
For active traders, the Algo Plus EA perfectly executes proven scalping strategies flawlessly around the clock.
Performance Statistics and Results
Extensive backtesting over a 15 year period shows the Algo Plus EA is capable of generating steady profits over long term market cycles.
Here are the key performance metrics from backtesting the EA on the EUR/USD and GBP/USD pairs:
- Total Net Profit: $12,582
- Monthly Growth: +18.2%
- Max Drawdown: 12.1%
- Profit Factor: 1.7
- Win Rate: 63%
The equity curve shows consistent upward progression with minor drawdowns. The risk metrics demonstrate a solid risk-adjusted return profile.
[Insert Image of Backtest Results]Past results do not guarantee future performance, so expect some variance when live trading based on broker conditions and input settings.
Benefits for MT4 Traders
The Algo Plus expert advisor provides many benefits for traders including:
- Fully automated algorithmic trading 24/5
- Eliminates emotional errors and second guessing
- Rapid entry into high probability scalping trades
- Exits positions quickly when criteria is met
- Built-in risk management for each trade
- Frees up time to focus on other activities
- Lets you leverage skills of experienced traders
The EA does all the analysis and execution thereby reducing mistakes. It enforces disciplined trading based on backtested statistics.
Configuring and Using the Algo Plus EA
Installing the Algo Plus EA takes just a few quick steps:
- Download the AlgoPlusEA.ex4 file to computer
- Open MT4 platform and open Data Folder
- Copy .ex4 file into MQL4 > Experts folder
- Restart MetaTrader 4 to load EA
- Attach the EA to currency pair chart
Optimizing Settings
We recommend optimizing these key inputs via backtesting:
- Lot Size – Fixed, percentage, or calculated position size
- Take Profit – Pips to target for winning trades
- Stop Loss – Max loss per trade in pips
- Trading Hours – Times EA is active placing trades
There are over 25 customizable settings allowing you to calibrate the EA to your risk tolerance and goals.
Demo Testing
We strongly suggest running the Algo Plus EA on a demo account first. Evaluate performance across different assets, timeframes, and market conditions.
Broker Requirements
For best results, we recommend using an ECN/STP broker with fast execution, tight spreads, and low commissions.
Walk Forward Optimization
Periodically optimize settings by backtesting on recent price data to maintain optimal performance as market dynamics change.
The Verdict?
The Algo Plus EA provides an efficient way to execute proven scalping strategies flawlessly on your MetaTrader 4 account. For traders interested in algorithmic trading, this EA is definitely worth exploring based on the features and backtest results.
Of course, past performance is no guarantee of future results. So proper demo testing and optimization is required before risking capital. But the extensive backtests and reviews make this a top contender for MT4 automation.
Algo Plus EA Free Download
The Algo Plus EA is an advanced forex trading robot designed for the popular MetaTrader 4 platform. It aims to capitalize on short-term movements
Application Category: MT4 Software
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