FX Lightning Advisor – Multi-Currency Stability
Every Forex strategy is focused on a specific currency pair in one way or another. Each currency pair has its own characteristics, for example volatility, maximum daily range of movement, spread which can significantly affect the profitability of a trading strategy.
This is why every stock market textbook recommends that beginners choose a specific instrument and trade only on it in order to study all the pitfalls of its pricing.
However, as a trader becomes more experienced, he begins to understand that the strategy he uses can enter so-called unprofitable periods (market conditions have changed).
In fact, such periods happen with every strategy without exception, so in order to avoid constant losses and smooth out the yield curve, you have to use other currency pairs in trading.
The FX Lightning Expert Advisor is a multi-currency expert advisor used on currency pairs such as GBPUSD, NZDUSD, AUDJPY, EURJPY, USDCAD, EURUSD, and USDCHF. Because the expert advisor simultaneously trades multiple currency pairs, hedging is activated, making the advisor quite stable and making gains and losses more consistent.
The advisor should be used on either a 15-minute or an hourly chart, which primarily depends on the expert advisor's settings, not your preferences. It's also important to understand that to maintain the integrity of the system, you must use all available options currency pairs simultaneously.
Installing an Expert Advisor in the MT4 trading terminal
As we've already mentioned, the FX Lightning Expert Advisor is a multi-currency expert advisor, but it's not implemented as a single robot, but rather as 14 different advisors. Each advisor is named after a currency pair and time frame, on which it should be installed.
To use the FX Lightning expert, you will need to download a set of necessary files and install them.
In addition to the 14 advisor files, the archive will contain two library files that will also need to be installed. So, go to your trading terminal and open the File menu. A list of options will appear, including "Data Catalog" and launch it.
After opening the directory, find the folder named Libraries and copy the library files into it. Also, find the folder named Expert and copy the 14 Expert Advisor files into it. For the terminal to see the changes, restart the trading platform.
Once the platform launches, decide on which Forex time frame the advisors should work (M15 or H1) and apply the FX Lightning advisors to the charts with the time frame you selected.
Strategy Information Settings
The FX Lightning advisor uses a finger-pointing trading strategy based on custom technical indicators. The strategy essentially involves the expert advisor identifying overbought and oversold zones and opening short and long positions based on these.
In the expert advisor settings, you won't find any parameters that could directly affect the entry point, but you can easily change the transaction support options as well as the basic parameters.
So, in the MaxTradesPerVersion line, you can limit the maximum number of simultaneously open positions on a specific currency pair, and in the MaxTradesPerAccount line, you can set the maximum number of positions for your account.
Parameters Take Profit and Stop Loss allow you to specify the Expert Advisor's target size in pips, as well as the potential loss amount in pips. The MaxSpread line allows you to limit the Expert Advisor's trading when the broker widens the spread (during news releases or overnight).
To do this, enter the minimum spread value specified in the contract specifications on the broker's page. You can also specify the price slippage value in the Slippage line. If the slippage is exceeded, the advisor will not open a trade.
The Expert Advisor can perform both dynamic lot calculation (set by default) and trade with a strictly static lot. If you want the Expert Advisor to trade with a static lot, specify this in the line Money Management value 0, but do not forget to specify the position volume in the FixedLot line.
If you want to trade a dynamic lot, enter the risk percentage in the MoneyManagement line, and don't forget to limit the maximum volume in the MaximalLot line. The Magic Number parameter allows you to assign a code to orders that are tracked and managed by the FX Lightning expert advisor.
Testing
The strategy tester was used for testing the GBP/USD currency pair on an hourly chart for 2015. All settings were left at default. Test results for GBP/USD:
As you can see, the testing results are quite encouraging. However, before installing the advisor on a real account, conduct a more detailed test of each Forex currency pair and optimize the main parameters if necessary.
Download FX Lightning Advisor
