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FXRobot MT4 EA

December 20, 2024

The FXRobot EA combines classic market analysis methods—such as indicators, price movements, and bar analysis—with a unique approach to data evaluation. This fusion has resulted in a distinctive algorithm designed to optimize trading orders and enhance trading efficiency.

Key Features of FXRobot EA

Algorithmic Trading
At its core, FXRobot EA utilizes algorithms to execute 1-2 orders based on market signals, aiming to close these trades profitably within a short timeframe.
Adaptive Order Management
For trades that don’t achieve profit targets promptly, the system deploys an adaptive strategy to exit positions. This mechanism seeks to close orders at a small profit, minor loss, or breakeven, depending on market conditions.
Risk Management Support Algorithm
If orders remain open for extended periods, a support algorithm is activated. This feature aims to expedite closing positions in profit and ensures that minor drawdowns don’t linger, maintaining portfolio stability.
Advanced Drawdown Control
A standout feature of FXRobot EA is its robust drawdown control system. It calculates Stop Loss levels for all active orders, ensuring drawdowns remain within a specified threshold. This approach is designed to be safer and more reliable than manual market closures.
Multi-Currency Functionality
FXRobot EA is pre-configured for four currency pairs—USDCAD, EURGBP, GBPUSD, and EURUSD—but can be optimized to work with other pairs. This versatility makes it suitable for diverse trading strategies.

Concerns and Risks

Despite its advanced features, some aspects of FXRobot EA have raised concerns within the trading community:

Martingale-Like Strategy: The EA’s support algorithm has been criticized for resembling a Martingale approach, which involves increasing stakes after losses. While not explicitly labeled as Martingale, this strategy carries significant financial risks if not carefully managed.
Misleading Risk Claims: The developers’ claims of low risk and minimal drawdowns have been met with skepticism. The EA’s use of Martingale-like elements may undermine its low-risk claims, potentially exposing traders to higher-than-anticipated drawdowns.

Martingale strategies, while capable of recovery, can lead to substantial financial strain if market conditions don’t favor the approach. Traders should approach such systems cautiously and ensure they understand the associated risks.

AutoSettings – This is the primary operating mode of the FXRobot EA. It has three options:
- All Auto – This is a recommended mode in which all calculations and settings are done automatically for you. Just need to make sure that you have specified a suitable drawdown limit in the MaxDrawDown parameter. This mode works exclusively with the following pairs: USDCAD, EURGBP, GBPUSD, EURUSD. If you enable this mode but install the EA on a different pair, it will automatically switch to a manual mode, “Use Your Settings.”
- Use Manual Lot – In this mode, the automatic settings still work, but the lot size must be specified manually in the ManualLot parameter. Also, the MaxDrawDown parameter does not work in this mode but will be automatically calculated from the specified ManualLot to not disrupt the robot’s logic and reliability.
- Use Your Settings – When using this mode, all automatic settings are disabled. The parameters of the manual settings are enabled in the “Use Your Settings” section at the bottom, and you also need to specify the lot size in the ManualLot option. In this mode, the MaxDrawDown option does not work. This mode allows you to trade on any currency pair.
MaxDrawDown – You must specify the maximum drawdown you will accept in percentage. This parameter is designed not to allow you to specify higher or lower drawdown than this MT4 EA FREE needs for stable operation.
ManualLot – You can manually specify the lot size for the start order. This setting does not work if All Auto is enabled.
SpreadLimits – Restriction on opening orders when the spread is too large. It works so that it does not disrupt the robot’s strategy if there are already open orders. It has three modes:
- Auto – Works only with the recommended pairs (USDCAD, EURGBP, GBPUSD, EURUSD) and when Use Your Settings mode is not enabled.
- Manual – Uses the value you specified in the ManualSpreadLimits parameter.
- Off – All spread limits are disabled.
ManualSpreadLimits – Manual spread limit for opening trades. It only works when the SpreadLimits parameter is set to Manual.
Slippage – Maximum of the price slippage for buying or selling orders.
Magic – This is a unique number responsible for identifying orders opened by the robot. It must not match the magic numbers of other robots trading on your account.
AccMini – This option should only be enabled if you use a special account type where the standard lot 1 has a value of 0.1. This is a very rare type of account, so this mode should almost always be turned off. If you use a cent account, this mode also does not need to be enabled.
CloseAll – If “true”, the EA will immediately close all its open trades. After that, you need to disable the option so that FXRobot EA can open the first trade again.

This is a section of manual settings for FXRobot EA, which works ONLY if the Use Your Settings mode is enabled in the AutoSettings parameter.

SignalFilterCoef – This is a coefficient that affects signal filtering. The recommended range of values is from 1 to 7.
SignalPower – Coefficient that affects the frequency and accuracy of signals. The recommended range of values is from 1 to 7.
SignalRangeCoef – Coefficient determining the time range during which the Market situation is analyzed. You can only specify values in the range between 1 and 7. Higher or lower values will be equal to the maximum allowed.
SignalSensitivity – This parameter determines the sensitivity of the signal. Enter the Market hastily or carefully. The recommended range of values is from 1 to 10.
SupportTradesCoef – Coefficient that determines when supporting orders should be added, aimed to speed up the process of closing old orders and make trades profitable. The recommended range of values is from 1 to 10.
SupportTradesRange – Parameter that determines a distance in pips between supporting orders. You need to specify the value in pips for 4-digit quotes, and the MT4 EA FREE will automatically switch to a 5-digit.
SupportTradesTP – TakeProfit value in pips for supporting orders. You need to specify the value in pips for 4-digit quotes. The EA will automatically switch to a 5-digit.
MaxTrades – The maximum number of orders a signal opens (excluding the opening of support orders).
TakeProfit – TakeProfit value of an order opened by a signal (does not affect support orders).
StopLoss – StopLoss value of an order opened by a signal. This value does not affect StopLoss support orders since a special system is used there, which independently calculates StopLoss depending on the specified risk.
SeekToCloseCoef – This coefficient determines how quickly the FXRobot EA should try to close orders opened by a signal. The recommended range of values is from 1 to 10.
MinProfitToClose – The profit/loss parameter of an order at which we are ready to close a trade if a value specified in the SeekToCloseCoef parameter is reached. The value is specified in USD based on a calculation that one lot equals 10 USD – regardless of the currency pair we trade on. By specifying a value of 15, the robot will be ready to close the order at +15 USD, if necessary. If you specify a value of -15, the robot will be ready to close the order at -15 USD (minus), if necessary.
SmartMinProfitToClose – This parameter works precisely the same way as MinProfitToClose; only a time of closing order is dictated not by the SeekToCloseCoef parameter but by another automated intelligent system.
YourSettingsDDControl – You can specify the desired drawdown limit (in percentages). The robot will automatically calculate the level at which the StopLoss should be, depending on the orders that are in the market.