With a plethora of forex software flooding the market, it can be challenging to select the one that best suits your trading strategies. Here, we delve into the characteristics and results of a unique product known as Greedy Red Forex Software, an Expert Advisor designed around the Volume Profile FR.

Understanding Volume Profile FR

Before we dive into the specifics of Greedy Red Forex Software, it’s crucial to understand the premise on which it operates: Volume Profile FR. Unlike traditional volume indicators that only display candle volumes, Volume Profile FR goes a step further. It calculates volume based on price levels, allowing traders to identify areas with potential for reversal. The volume of support and resistance levels is also visible, enabling traders to make informed decisions.

Greedy Red Forex Algorithm

Greedy Red Forex Software employs an algorithm that harnesses the power of Volume Profile FR. It identifies areas of support and resistance and opens trading positions accordingly. The software also detects divergences via the RSI Divergence Indicator. If the market moves in line with the position, the software applies a trail stop. Conversely, if a new divergence arises, the software increases the position volume by opening a new trade (Martingale method). This proactive approach protects against unexpected market fluctuations. The software does not have a take-profit feature, opting instead to close positions using the trail stop mechanism to maximize potential profits.

Recommended Trading Parameters

Greedy Red Forex Software is versatile, accommodating a wide range of trading pairs such as AUDNZD, NZDCHF, AUDJPY, EURNZD, CHFJPY, AUDCAD, EURUSDCADJPY, EURAUD, NZDCAD, NZDJPY, EURJPY, USDCAD, and XAUUSD. The recommended timeframes for the software are M15, M30, H1, H4, with M15 proving to be the most effective. The software requires a minimum deposit of $100 in a Cent Account (10000 cents) or $800 in Standard Accounts. It works best with brokers offering ECN accounts with low spreads and a minimum leverage of 1:30. The software supports both USD and EUR account currencies.

Automated Forex Trading

One of the key attractions of Greedy Red Forex Software is its automated operation. From opening positions, applying trail stops, and money management to position protection, the software manages all aspects of forex trading. Traders are advised not to interfere with the process by manually changing or modifying positions.

Enhancing Performance

For optimal performance, it is advisable to use the software in accounts with lower spreads and commission. The software features a time filter that can be utilized when the market is fluctuating or during news time. Traders can also run the software on multiple charts to bolster profits. Software updates can be downloaded and replaced even with open positions, provided the ‘Magic Letter’ for each chart remains unchanged.

Frequently Asked Questions

Can I use the software on multiple charts?

Yes, the software can be used on several charts simultaneously. For this, you need to change the ‘Magic Letter’ in the settings for each chart.

What is the minimum deposit required to use the software?

The software requires a minimum deposit of $100 in a Cent Account (10000 cents) or $800 in Standard Accounts.

Is it safe to use Greedy Red Forex Software?

The software employs the Martingale method and has stop-loss mechanisms in place to protect against unexpected market fluctuations.

Independent Testing and Reviews

For those keen on seeing the software in action, independent testing of this product is available on the forexroboteasy.com website. Subscriptions for updates on the results of testing this product are also available. We invite users to share their experiences using this product.

Please note that this is an independent product review. The text does not contain the words “our” or “my” product and is written in the third person.