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In this review, we delve into the specifics of Gainer MT4, a mean reversion range Expert Advisor (EA) optimized for major and cross currency Forex pairs.
Optimized Forex Pairs
The Gainer MT4 EA has been designed to work optimally with major Forex pairs such as EURGBP, EURUSD, USDJPY, GBPUSD, AUDUSD, AUDJPY, EURJPY, and USDCAD. The live performance of this EA can notably be observed with the USDCAD and EURGBP pairs. The EAโs performance optimization has been undertaken and may continue to be adjusted in the future for these specific pairs.
Trading Timeframe and Broker Timezone Settings
For optimal operation, the Gainer MT4 should be set on the M15 timeframe as trade signals are examined on this timeframe exclusively. If the chart timeframe is higher than M15, the EA may skip some deals. The brokerโs timezone settings are also crucial. The EA operates on a โWinter UTC offset, hoursโ for the winter offset and a โWinter/summer changes scheduleโ for the server DST shift. This is set to UTC 2/ 3 winter/summer by default, which is valid for most brokers.
Risk Settings and Spread Control
Volume inputs such as โMoney managementโ and โValue for Money managementโ dictate the risk settings. The EA can hold up to 2-3 trades most of the time, and the maximum simultaneous trades allowed can limit the risk explicitly. An โEnable spread controlโ feature is also available, which prevents trading if the current spread exceeds the โMax allowed spreadโ value.
Stops, Targets, and Breakeven
Initial stop-loss and take-profit can be set in pips or percents of the current price. Additionally, if the โEnable breakevenโ feature is on, once a certain profit is reached, the stop-loss will be dragged to the trade open price level. The EA also offers a โTrailโ feature, which, when enabled, checks the distance between the current price and stop-loss upon reaching a certain profit.
Backtesting and Support
Backtesting with the โOpen prices onlyโ mode can be performed, which is faster than the โEvery tickโ mode with essentially similar results. However, itโs important to note that neither tester nor past live performance ensures future results. In case of queries regarding the EAโs work, installation, and settings, users can send a personal message for support.
FAQ
Where can I watch independent testing of this product?
Independent testing of the Gainer MT4 can be found on the forexroboteasy.com website. Users can also subscribe to updates on the results of testing this product.
Yes, users are encouraged to share their experiences of using the Gainer MT4.
This review is an independent analysis of the Gainer MT4 and does not represent any personal endorsement or affiliation with the product. The Gainer MT4 is a third-party product, and all the views expressed in this review are based on objective analysis and user experiences.
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