Pip Parameter Forex Bot

Pip parameter forex bot

Pip parameter forex bot

FOREX DIAMOND REVIEW

FOREX DIAMOND REVIEW SUMMARY

Foreign Exchange Robot: Forex Diamond

Software Programmer:  WallStreet Forex Team

Scalping: Scalping 4 pairs in the M15 Timeframe

Forex Pairs: EUR/USD, GBP/USD, USD/CHF, USD/JPY

Trading Platform: MetaTrader-4

License: 1 Real Account License / Demo Accounts / Lifetime updates

Pricing: 218 USD

» Forex Diamond Web

INTRODUCTION TO FOREX DIAMOND

The Forex Diamond is a fully automated Forex software designed to trade 4 Forex Pairs {EUR/USD, GBP/USD, USD/CHF, USD/JPY} in the M15 Chart.

Forex Diamond can trade any market conditions (Trends and Reversals) by offering self-adaptation without manual settings plus many automated filters for the trader’s account protection (spread, slippage, etc.).

Pip parameter forex bot

The robot was programmed by the team of WallStreet Forex in 2003.

The minimum configuration for the Expert Advisor to work properly includes a PC with 1.5 GHz CPU, minimum 1 GB RAM, Operating System XP, Vista, Windows-7, Windows-8 or Windows-10.

The Forex Diamond Live Performance chart:

The purchased package of the Expert Advisor includes:

(a) Install Wizard

(b) Quick Guide

(c) Tutorials via the Member’s Area

(d) Life-Time Updates

Support is available via email and all answers are replied within one business day.

FOREX DIAMOND ALGORITMH

Forex Diamond incorporates three (3) independent trading systems in order to trade any market conditions.

These three systems are designed to cover Trends & Reversals and are able to generate quite a few signals in a daily basis.

Here are some of the features offers by the Expert Advisor:

  • Self-Updating Algorithm (can be optimized automatically)
  • High Trading Frequency
  • Signal calculation can take place on every tick {ExecuteOnEveryTick (true/false)}
  • Dynamically Calculated Stop Loss / Take Profit and Profit Protection System (Trailing Stops, etc.)
  • High Slippage & Spread Protection plus many Money Management Parameters and Filters

Here are the three (3) algorithms in the programming core of the Expert Advisor:

(i) Trend Algorithm (The Trend Algorithm is programmed to identify and trade strong market trends)

(ii) Countertrend Algorithm (The Countertrend Algorithm is programmed to identify and trade trend reversals)

(iii) Countertrend ScalpingAlgorithm (The Countertrend Scalping Algorithm is programmed to identify and scalp high-volatile markets)

FOREX DIAMOND PARAMETERS

Forex Diamond is designed to automatically recognize whether a Forex broker offers trading in 4 or 5 digits and no manual settings are required by traders.

Pip parameter forex bot

Here are some important settings of the Expert Advisor. Note that in order to edit Forex Diamond settings, right clicking anywhere on the chart and selecting Expert Advisors -> Properties.

Forex Diamond Basic Settings

  • Backtest_GMT_Offset -important for back-testing the Expert Advisor (note that in real trading conditions, the EA sets the time automatically according to your broker’s server time)
  • UseCustomPair (true/false) – by changing this parameter to TRUE, traders can use Forex Diamond on any Forex pair beyond the 4 supported currency pairs (supported pairs are EURUSD, GBPUSD, USDJPY and USDCHF)
  • MaxSpread – sets the maximum spread that the Expert Advisor is allowed to trade (in standard 4 digit pips, partial values are also an option).
  • Slippage - sets the maximum slippage that the Expert Advisor is allowed to trade (in standard 4 digit pips, partial values are also an option).
  • StealthMode (true/false) - in this mode the take profit and stop-loss orders can be hidden from your Forex broker
  • No_Hedge (true/false) – if TRUE then all hedge trades are canceled
  • Max_Orders_Total – defines the maximum permitted number of open trades (at the same time)
  • RecoveryMode_1(2,3) (true/false) – if the RecoveryMode is TRUE then the Forex Diamond tries to recover the current drawdown by smoothly increasing trading volumes
  • ExecuteOnEveryTick (true/false) - the Expert Advisor is programmed to calculate signals in one-minute-bar basis, if TRUE this parameter allows signal calculation and execution on every tick
  • ReverseProfit –means a minimum pips profit in which the position will be closed if the price indicates a reversal, note that the default ReverseProfit value of the Expert Advisor is zero
  • Use_Trend_Filter (true/false) – if TRUE the trend filter can increase the Profit Factor at the expense of trading frequency
  • Trend_Strenght – the minimum distance (in pips) between the price and the trend indicator, below which trades will not be taken
  •  MondayStartHour – the Expert Advisor will start openning positions after this hour during Mondays
  •  FridayExit (true/false) - if TRUE the limits Forex Diamond’s trading during Fridays
  •  ExitHour - the Expert Advisor will close all positions at this time during Fridays

The developers of Forex Diamond recommend the following:

  1. Apply the Expert Advisor on a demo account before trading for real money (Forex Diamond offers unlimited Demos)
  2. Be careful when determining trading volumes and setting automatic risk management parameters
  3. If users suspect that the Expert Advisor is operating incorrectly they are advised to contact the help desk support immediately (replies in one business day)

» Forex Diamond Site

FOREX DIAMOND REVIEW PROS

◘ Forex Diamond offers protection from high-spread and high-slippage

◘ Forex Diamond can be optimized automatically without requiring manual settings

◘ Trailing-stops (profit protection)

◘ Forex Diamond can trade any market conditions

◘ Forex Diamond incorporates a special algorithm to trade high-volatile markets

◘ Start trading with 100 USD (note that the programmers recommend 1,000 USD)

◘ Forex Diamond executes on average 3 trades on a daily basis

FOREX DIAMOND REVIEW CONS

◘ It is a little bit expensive

FOREX DIAMOND REVIEW CONCLUSIONS

The Forex Diamond is an Expert Advisor offering many innovative features and frequent trading via three (3) independent trading systems / algorithms.

Based on the ability of the Expert Advisor to automate settings, it can be used by all Forex traders no matter their level of experience.

BRAND NEW - The Python Forex Trading Robot

According to the robot’s programmers, Forex Diamond shows a recovery factor of 40+ and that means for every 1 pip lost the Expert Advisor can gain 40 pips. One (1) single license of the Forex robot costs $218 and includes one (1) real account, demo accounts and free updates for life. Traders can purchase also the full license of the robot which offers two (2) real accounts and costs of course a little bit more.

» Visit the Forex Diamond

◙ FOREX DIAMOND REVIEW

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Pip parameter forex bot