FX AlgoTrader Index Analyzer Pro - Automated Trading in MetaTrader using currency index data

Overview of the new Index Analyzer Pro tool developed for autotrading in MetaTrader using near real-time currency index data. The Index data is uploaded from the FX AlgoTrader server every 10 seconds and then sorted by strength and weakness based on all MT4 timeframes.

The trader can then apply filters to match their chosen alert/ autotrading timeframe. The system is provided with an accompanying MT4 Expert Advisor which executes the trade signals generated by Index Analyzer Pro.

The system is based around a trend following strategy with two entry types. The first being "Trend Follow" where the system simply executes trades where currencies meet the trader's filter criteria. The second entry type is "Buy Dip/Sell Rally" where the system looks for a short term entry based on temporary weakness in an uptrend or temporary strength in a downtrend.

The system only requires the EA to be loaded on a single MT4 chart. The only other requirement ism to ensure the MT4 chart data is up to date.

The EA uses generic position size, stop loss, take profit, max orders per pair and minimum interval between trades for all executed trades. These are configurable parameters supplied as external input parameters by the MT4 EA.

Index Analyzer Pro also incorporates a graphical historical index analysis tool which allows the trader to inspect and compare historical index data for selected currencies. This particular feature proved to be extremely powerful during product testing and gave some excellent 100+ pip position trades.

For more information please contact info@fxalgotrader.com

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