Configure the forex robot with the following settings to generate signals which are automatically traded with your connected broker.
Once you have created an account you have the choice as to what types of indicators will be used to generate signals. You can leave all indicators running, or de-activate some if you want. The indicators that ForexRobot.com uses are:
- TREND: This indicator looks at overall trends in the market.
- MACD: MACD measures differences between 2 moving averages. Plotting them against history, forecasts can be made. MACD stands for Moving Average Convergence Divergence.
- RSI: This indicator stands for Relative Strength Index. Simply put, when prices get too high, the majority will sell and when prices are cheap, people will buy. Following the people’s systems is usually profitable.
- STOCH: Dr George Lane created the Stochastic Oscillator. The system follows both speed and momentum of market conditions and determines trades based on these factors.
- WILLIAMS: The Williams indicator is what I would call an RSI indicator simplified. It grabs extreme over, or undersold areas and attacks them, normally in short positions.
- CCI: The Commodity Channel Index bases everything off a given average over a length of time, and uses that average to determine trends.
You can adjust the timeframe on all indicators ranging from 60 seconds (short term) to 60 minutes (long term).
For example if you select a short term timeframe then all activated indicators will be applied over that timeframe to generate a signal which can be automatically or manually traded.
In the settings, you choose from 1 of 3 trading systems:
- Classic which is considered the most secure
- Martingale which can be highly profitable
- Fibonacci is the most accurate system
You can choose to trade any or all of the following forex currency pairs:
You can choose to trade any or all of the following cryptocurrencies:
You can set the robot to allow up to eight simultaneous trades at any give time.
You have the option to automatically or manually trade our signals.
You can adjust the “Stop Loss”, “Take Profit” and “Leverage Multiplier” to suit your trading appetite.