Dax40 Index EA forex robot is a powerful & exciting Index EA for MT4 that trades DE40 (aka DAX40/GER40) Index. It works based on proprietary indicators called “angel factor/period” (you can see this in inputs). Dax40 is a very low-cost instrument to trade, with most brokers quoting a 0.5 – 1.0 spread with small/no commissions.
It Operates by monitoring the movement & volatility of the DAX40 during market hours; once it detects a strong move, it will latch onto the momentum and open a trade at the next bar opening. This EA is traded during Dax open 9 am to 8 pm Frankfurt time.
It does not use dangerous trading methods like martingale, grid, etc. It only opens 2-7 trades a week, and it doesn’t hold in to trade for a long time. It uses hard stop loss and take profit of 40 – 50 points. Indices use points, not pips; one point is equal to 1$ using 1 Lot in most brokers.
This Index trading EA Uses a recovery function. EA will increase the lot size of the NEXT trade after the loss by x2 for 5 levels max(This is different from martingale). However, you can disable this feature by input parameters (increaselotafterloss = false).
Using a recovery factor after loss is very different from martingale. Do not get the 2 confused, this table compares the huge differences.
This Dax40 EA can trade with a fixed lot or use an auto lot and automatically increase the transaction’s size according to the specified criteria. The maximum drawdown percentage is low for this EA, which allows using this adviser on a small deposit.
Recommendations on this Index EA
Since Margin requirements can differ from broker to broker, the minimum account balance can be 100$ for some brokers and 100$ for others. (Also, Some brokers use 1.0 lot as $1 per point, and others can use 1.0 lot as $25 per point. )
This Index EA is specifically made to work on DAX40 (GER40/DE40), also called DAX30(GER30/DE30). (It could work on any timeframes with some modification to input parameters)
Work Best on M15, M30, and H1 TimeFrames. (Work on any TimeFrames)
This EA is traded during Dax open 9 am to 8 pm Frankfurt time. Default settings are for GMT+2 broker time(GMT+3 in SUMMER). If your broker is not GMT+2, it will run at the wrong times, and you need to adjust accordingly.
This Index Forex Robot Robot should work on VPS without interruption on its trading time. So this Hedge Fund EA should run on a low latency reliable VPS (Reliable and Trusted FOREX VPS – FXVM)
Pick a broker that works well for DAX40