Free Pender EA – Best Free Forex Trading Robot
Table of Contents
This is a fully automated free version of Pender Expert Advisor.
Trading is performed using pending orders on important price levels, where the price had slowed down during the recent time periods.
The Forex Robot includes two strategies of important price levels detection. They can be used either together or separately.
Virtual StopLoss is always set.
“Dangerous” strategies are not used.
Differences from full version :
1. Opens only SELL positions.
2. Trades with 0.01 lot only.
Broker and deposit
Any 5-digit broker with low spreads and fast execution is suitable for trading.
The minimum recommended deposit – $50.
Free Pender EA Currency pairs and timeframe
Trading on EURUSD, GBPUSD, USDJPY, USDCAD or on any currency pair with small spread is recommended.
Timeframe – H1.
Terminal – MetaTrader 4.
- OldStrategy – can be set to true or false. If true, the EA used strategy of previous versions.
- NewStrategy – can be set to true or false. If true, the EA uses new strategy.
- TakeProfitInPoints – take profit in points.
- StopLoss – virtual stop loss in points.
- TrailingStop – trailing stop in points.
- VirtualTrailing – can be set to true or false. If true, the EA hides the modified StopLoss levels from the broker.
- Delta – indent from important price level for pending orders.
- StartHour – time to start trading.
- EndHour – time to stop trading. All current pending orders will be deleted.
- SummerAdjustment – adjustment for daylight saving time.
- EAMagic – magic number of the EA, which allows it to distinguish its orders.
- CommentOfOrder – comment to orders. Can take any value.
- ShowInfoPanel – can be set to “true” or “false”. If “true”, the information panel will be displayed on the chart of the traded pair.
- Panel_Language – language of the information panel.
- TextColor – font color of the information panel.
Recommended settings are set by default.
By default, the StartHour and EndHour parameters are set for the terminal time zone GMT+2. If necessary, set these parameters according to the time zone of your terminal.