ForexPen – Download Free Forex EA, Indicators and More for Your Trading Needs

Tokyo USDJPY EA

Tokyo USDJPY EA is a Forex expert advisor that focuses on the USDJPY pair. The Relative Strength Index (RSI Indicator), a momentum oscillator that gauges the rate and direction of price changes, is the central component of this EA. This EA uses the RSI to identify the best times to enter trades, concentrating on particular window of time when the market conditions are most favorable.

The USDJPY EA follows a clear schedule. From midnight until the early morning hours of Japan time, it starts Buy orders. After that, these orders will close at 9:55 AM Japan time. Conversely, for those keeping an eye on the bearish trends, sell orders are placed exactly at 9:55 AM. Based on past trends and volatility related to the Tokyo market opening hours, this strategy guarantees that trading is concentrated during periods when the market is expected to offer the greatest potential.

Take Profit (TP) and Stop Loss (SL) mechanisms safeguard each trade. TP and SL are initially set at 100 pip, but the internal logic of the EA adjusts these values to more realistic averages of roughly 10 pip for TP and 9 pip for SL. This tactful approach fits the trading strategy with the naturally erratic nature of the Forex market while simultaneously safeguarding the investment.

Recommendations

  • $100 is the minimum account balance for a 0.01 lot.
  • It is specifically made to function with USDJPY. (Work with any duo.)
  • With M5 TimeFrames, it functions best. (Work in any amount of time)
  • This free forex EA should be run 24/5 on a VPS (Reliable and Trusted FOREX VPS – FXVM).
  • low spread ECN account is also advised (Find the Perfect Broker For You Here).

No Minimum Deposit

ECN Acount

No Commission

Min Deposit of 20$
Allow USA Traders
Levergae up to 1:500

Share:

Facebook
Twitter
Pinterest
LinkedIn

Leave a Reply

Your email address will not be published. Required fields are marked *

On Key

Related Posts

FAN Trading Robot

An automated trading system called the FAN Trading Robot was created to profit from major news stories that cause notable volatility in the currency markets.

AA Forex Robot

The adaptable MT4 Robot Advanced Automated Forex Robot is available for free download. An adaptable algorithm that continuously fine-tunes and optimizes itself forms the basis

SG Forex EA

Specifically built for trading gold (XAUUSD), this SG EA is a fully automated Gold Forex EA. This article delves into the nuances of this EA,

TOP BOTTOM INDICATOR

Top Bottom Indicators provide a major advancement in manual trading tactics by identifying the tops and bottoms of market patterns. This indicator is special since