The DAX Forex EA is a dynamic Index Expert Advisor (EA) for MT4, specifically designed for trading US30 (DJ30, Dow Jones Industrial Average, Dow30) and DE40 (also known as DAX40 or GER40) indices. It utilizes breakout strategies to capitalize on movements within the first few hours of the European session.
Index trading differs significantly from traditional forex (FX) trading and requires a specialized skill set due to a broader range of variables. Backtesting indices is also more complex than FX because brokers often vary in the number of decimal places they use, quoting either spot rates or futures prices and setting expiry dates on some indices while not on others.
For example, the DAX index price may appear as 14534.00, 145.34, or 14534.0, depending on the broker. The EA operates at a set time each day (default settings are for GMT+2), but broker time can vary, so traders may need to adjust the EA’s trading hours to match their broker’s settings. 
Each trade the DAX40 EA opens is safeguarded by a fixed stop loss of approximately 25 points, with a maximum of 5 trades opened daily. All trades are closed or canceled within the same day, and the EA avoids high-risk strategies like martingale, grids, or averaging positions. A trailing stop ensures trades exit with a set gain, optimizing profit potential.
The EA uses a consistent lot size, as defined by the user, avoiding techniques that increase lot sizes after losses. While the Dow30 EA has advanced features for experienced users, like a recovery function, it is also straightforward enough for beginners. Additional settings are available, such as using a box stop loss instead of a fixed stop loss, setting a take profit, and adjusting lot size after a loss.
DAX Forex EA Recommendations
Minimum Account Balance: The required balance varies by broker, with some needing a minimum of $100 and others $1,000. Brokers also differ in lot size definitions—some define 1.0 lot as $1 per point, others as $25 per point.
Supported Indices: This EA is specifically tailored for DAX (DAX40, GER40, DE40) and Dow (US30, DJ30, DOW30).
Best Timeframe: The EA is optimized for the M15 timeframe, although it can work on any timeframe.
Trading Hours: It trades during DAX open hours, from 9 am to 8 pm Frankfurt time. The default settings align with a GMT+2 broker time (GMT+3 during summer). For other broker time zones, manual adjustment is necessary to ensure accurate operation.
Recommend running this free forex EA on a VPS (Vultr)
Low Spread ECN account is also recommended Icmarket and Exness
Broker Requirements: Choose a broker with favorable spreads and conditions for DAX40/DOW30 to enhance performance.
