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The EA is Added to the Metatrader Terminal via An Easy Automatic Installer in a few Button Clicks.
Forex Profit Defender is non-typical automated trading Forex robot, it is a MetaTrader 4 trading terminal expert advisor developed specially for the ordinary Forex trader, and successfully used by a variety professional Forex traders.
Forex Profit Defender has 3 powerful independent working integrated trailing stop algorithms:
What does Trailing Stop mean?
Trailing stop means to set a Stop Loss Y pips to a trade from its open price when it's in X pips profit. This is how the trade guaranteed to close in Y pips profit even if the price would reverse. The robot perfectly perform this function via 3 independent smart Trailing Stop algorithms any of which can be used while most of the Forex robots don't have Trailing Stop functionality, even while trading manually, Forex traders can't set a Trailing Stop in such a good way. This is considered additional security that is put by Forex Profit Defender to the open trades.
As mentioned before, when the enabled in Forex Profit Defender settings Simple Trailing Stop triggers the robot to watch all the open trades so when one of them catches a profit greater than X pips, a Y pips trailing Stop Loss is set to the trade, this guarantees a minimum profit of Y for the trade if the price reverses. While if the price moves in the desired right direction and the current profit of the trade is summing up, the robot will move the trailing stop with Z pips in the same direction og the profit being gained to increase the amount of guaranteed profit pips for the trade. The robot has been tested for that in real conditions, it could make a profit of 280 pips trading manually in less than 2 days. More details about the available settings for Simple Trailing Stop exist in the Forex Profit Defender user guide.
Bollinger Bands indicator is one of the most popular Forex trading indicators, most suitable for trending markets. when Bollinger Bands Trailing Stop is enabled in its settings, Forex Profit Defender uses that indicator to set trades trailing stop. It implements a very simple mechanism; Bollinger Bands has three lines: Bollinger Upper Band, Bollinger Lower Band and Bollinger Middle Band. Bollinger Middle Band is a simple Moving Average and forms the base of the other two bands, the upper and lower bands which measure the deviation. The upper band is the maximum positive deviation and the lower band is the maximum negative deviation from the middle band. So, Bollinger Bands as an indicator is a very useful tool to reveal the markets volatility.
Several trading signals are generated based on how the price interacts with the bands. For example, a buy signal is generated when the price breaks through the upper band while a sell signal is generated when it breaks below the lower band.
How does Bollinger Bands Trailing Stop work?
Lets say that a buy position was opened according to Bollinger Bands indicator (when the price broke through the upper band) and the price keeps rising with every new bar. When the middle band becomes equal to or greater than the position open price, a trailing stop equal to the band's middle line value will be set by the robot. As with every new bar, the middle line of Bollinger Bands will keep moving (rising), that trailing stop will be moved in the same pattern. When the price become equal to or lower than middle band, the trade will be closed with a profit equal to the last trailing stop, which was set equal to the highest value of the middle band. And vise versa for sell positions.
The Parabolic SAR indicator (Parabolic Stop and Reverse indicator) can help to detect potential reversal points in the market. When the price is trending up, the Parabolic SAR dot is placed below price, while when trending down, the Parabolic SAR dot is placed above price. The Parabolic SAR value is calculated for the next candle at the close of the current one. This is why using the SAR dots is good for a trailing stop setting.
How does Parabolic SAR Trailing Stop work?
Lets assume that there is a trend reverse and the Parabolic SAR dot appears below the price, this indicates an upward trend direction of the price, so the position to open is a BUY position. Parabolic SAR indicator also print a new dot with every new bar and when the Parabolic SAR dot is equal to or greater than the opened trade price, a trailing stop equal to Parabolic SAR dot value will be set to the trade by the robot and will continue to move the trailing stop with every new Parabolic SAR dot. If a new reverse starts, the Parabolic SAR dot changes its position and the price also begins to fall down, but thanks to the trailing stop previously set, the position will be closed on a good profit that equals to the Parabolic SAR last dot before occurrence of the reverse. And vise versa for SELL positions.
A signal system is integrated into the latest version of Forex Profit Defender. It makes the robot able to alert BUY and SELL signals based on Bollinger Bands and Parabolic SAR indicators, it can also automatically execute these signals. This can be tuned up precisely in the robot's settings.
Thanks to the Trailing Stop control system Forex Profit Defender can automatically manage all the opened trades via the integrated signal system, this makes it a fully automated expert advisor.
It's a very flexible expert advisor, can be very precisely configured and adapted to meet all the majority of Forex traders requirement. The consolidation between the signal system and the trailing stop system makes Forex Profit Defender one of the best Forex robots for trading on Forex market.
In conclusion, when all the desired conditions are approached, a signal is generated by Forex Profit Defender and if it's configured to automatically execute the generated signals, it then opens a new trade. Thanks to its trailing stop system it then automatically begins to manage the opened trade according to Bollinger Bands Trailing algorithm or Parabolic SAR Trailing algorithm depending on the chosen option in its settings. This creates a very perfect combination and profit.