The Forex ICT Concepts EA MT4 is an automated trading tool that leverages the proven strategies of Inner Circle Trader (ICT). Traders can utilize this EA along with setfiles to execute trades automatically, potentially optimizing trading strategies and enhancing performance within the MT4 environment.
Key Features
1. Strategy
The EA is based on the ICT Silver Bullet strategy, which focuses on specific trading windows and entry models. Let’s explore these entry models:
- Continuation Entry:
- Based on reaction to the high or low of the previous hourly candle.
- Enters trades on a Forex Volume Gap (FVG) continuation in the same direction.
- Reversal Entry:
- Looks for liquidity taken from below or above the hourly candle.
- Enters trades after a change of character (CHOC) following the reaction to the high/low.
- Classic Entry:
- Takes the first FVG formed within the Silver Bullet window.
- Utilizes the new displacement filter and FVG size filter to filter out insignificant FVGs.
2. Displacement Filter
- Filters out non-displacement moves (bad trades).
- Compares the size of the displacement candle to the previous 20 candles.
- User-defined percentage size difference validates the displacement candle.
3. Close All Trades
- Automatically closes all open trades at a specified time of day.
- Prevents trades from running longer than necessary.
4. Close All Pending Orders
- By default, closes any pending orders at the end of the current Silver Bullet window.
- Users can choose to close pending orders at a specific time of day.
Minimum Deposit
- The minimum deposit required to use the Forex ICT Concepts EA MT4 varies based on your broker and risk tolerance. However, it is recommended to start with a reasonable amount to manage risk effectively.
Recommended Timeframe
- The EA is most effective on the H1 (1-hour) chart.
Currency Pair
- The recommended currency pair for the Forex ICT Concepts EA MT4 is EURUSD.
Remember, no strategy guarantees success. Always practice responsible trading.
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