Forexbody Signal Software with EA

Forexbody Signal Software with EA

Overview | Normal Trading | Expert Advisor | Buy

An Overview of Forexbody signal Software

Start your subscription for only $10 a week

IMPORTANT: TO BE USED ON DEMO ACCOUNTS ONLY UNTIL UPDATE ON NOVEMBER 10

NOT EVEN 1 LOSING TRADE !

When you download the file, you will receive a single stand alone file that can be started without installation. When you start the software you may get false alarms from certain antivirus software you have installed. If this happens you Antivirus software will strip some components of the program and hence you may get unnecessary error messages. Please disable such security software when you start the program.

First Time Start

At first time start the program will ask you for 2 inputs, 1: your Time Zone which you can input simply by clicking on the colorful provided map or by entering it manually. 2: The second required input is how much equity is available in your Forex account, please input exact figure here, and this has to be updated after closure of every trade. Please enter exact amount as it appears on your MT4 summary line or your other trading platform. This is necessary for the software to give you the correct trade sizes to input to your Trading platform when you open your trade. Image shown below

In the above example: The time zone entered is -5 which corresponds with Eastern Standard time here. You can input the correct zone for any area in the world but it must be the correct number and must match the time zone you already have in your system clock. Inputting wrong time zone will result in incorrect Forex red and green signals.

2600 in the above example in the second input field corresponds to $2600 in equity you have in your forex account and available for trading. No open trades at this time. It should be input in the field without a dollar sign and the amount must be in USD dollars value. Click Save and this will take you to the EURUSD panel since this is your first time starting the software. Once you exit the software after you have been in another panel the program will remember your currency at the next program start. it will also remember your last time zone, equity and any additional settings you make during previous session.

IE Script Error Message Killer

This item you see in the system tray is a small program that waits for an error usually comes from IE when opening script pages ( DO YOU WANT TO RUN SCRIPT ON THIS PAGE AND there is two buttons YES and NO, so my little program will sit like a watch dog for you and press YES before you can even see the window but only works with English OS.

Window Controls

The program will run on a blank area of the title bar of your top most window and is set to be on top of all windows but completely out of the way of your work area. The right most 3 buttons allow you to control window, minimize and exit.

Click on the T symbol if you do not want the software to be on top.

Move Window

The Left most button allows you to move the window only if not in minimal size, like when you are reading this, you can move the window to any other location in the screen.

Audio Volume Control

This is Audio volume control, it adjusts the volume of the mp3 tune that is triggered when a new signal is generated. In Vista this affects only the volume of this software, In XP it affects the volume of your entire system.

There are 3 tunes, one for Buy signal it will sound only when signal changes, one for Sell signal, and one when the Dow Jones exchange opens or close for the day. Please adjust the volume from 0 to max by clicking on it, the more lit the higher the volume.

Live Market Indices

World stock exchange ticker, is set to Dow Jones by default. on the left it will show the exchange symbol. If you click on exchange symbol, then you can access other worldwide stock exchanges tickers. All live up to the second when you see a rainbow color lines above and below the white area, If no colors it means your internet connection is down and you are not receiving the feeds.

Why do you need this?

Market indices provide clues to Forex market trends both short term and long term. The Dow Jones Index, for instance, is the world's most important economic indicator. Since it is very responsive to sensitive issues like dollar quantitive easing, If the Dow goes down the dollar value will go up and if the Dow goes up the dollar value will go down instantly. Thus currencies like EURUSD and GBPUSD will appreciate in value when Dow goes up. If the Dow goes past 10000 the EUR value in USD should exceed 1.50. If it goes lower than 9000 again we should see EURUSD tumble back to under 1.40 again. This is just an obvious example.

When you click on the exchange symbol you will get the following to access other world exchanges by simply clicking on either one. To read more about location of each exchange simply move your pointer over each button and you will get information regarding each exchange. When you click on one you will display its symbol and data in the above little window. When numbers are in red, it means the index is below zero, green numbers indicate bullish markets.

The above selector was brought to view by clicking on the Symbol DJI

Currency Selector

Currency selector displays current pair

To cycle through the list of currencies you need to click on the tiny buttons to the left and right of the symbol on blue.

Click on currency symbol and you directly go to the panel of your pair.

Once you switch to a new currency, the signal will apply to the new selected currency

Scalping Option / THIS FEATURE IS TEMPORARILY REMOVED

If you click on the word SCALP this you will be getting scalping signal, more on this later

When scalping is active, you can turn off and go back to normal by clicking on the pink indicator

General Outlook for Currency:

These are derived from world wide media sources, it represent the general economic outlook effect on Forex.

Overall Bullish long term trend

When hidden powers that moves the market fill the world about increased risk appetite the dollar will head down while currencies like EUR, GBP, and AUD appreciate in value. This indicator gives an idea of the general market direction and is a great signal for longer term Forex Trading. It could change over a weekend, a month, or a year.

Overall Bearish long term trend

When hidden powers that moves the market fill the world about risk aversion the dollar will head up while currencies like EUR, GBP, and AUD depreciate in value. This indicator gives an idea of the general market direction and is a great signal for longer term Forex Trading. It could change over a weekend, a month, or a year.

Forex Trading Signal

Appears when there is no signal = Signal Already Given !

Appears when there is a Sell signal for current pair. Once a day.

It comes when it is the best time of the day where a sell trade can make our suggested profit limit.

Appears when there is a Buy Signal for current pair. Once a day.

It comes when it is the best time of the day where a Buy trade can make our suggested profit limit.

Please understand that Buy or Sell signal are provided at certain times for normal trading. depending on your location, the timing may not be perfect and it could be 4 am where you are.

Buy or Sell signals will last for only one hour regardless of market condition, once removed leave your signaled trades open until closed automatically by profit limit assignment. All accounts must be hedging enables with no order restrictions. If your account is held with US NFA regulated broker you must move to their UK branch.

If you come to your computer after signal is gone, you may take the signaled trade only if the market is still within 15 pips from the time of the signal. You can only tell from your charts and only if you have been using signal for a while.

Forexbody Signals may appear to you as predictable, overtime you will discover that they are not. A lot of research is done during weekends to get you the best signals for the following week. It is a great idea to update your signal software every week on Sundays just before the market opens. Download fresh copy and delete your old one. Permanent download links are on this url: http://www.forexbody.com/signal-download-thankyou.html

Currency Confirmation

This will follow the signal graphic and confirms your currency, here is EURUSD pair

Market News and Upcoming Event Calender

Click on this button to view news and market repots as well as economy events calendar

Forex Quotes

Quote and last tick, when there is a color column between the quote and the tick arrow that means you are receiving data. If not then your internet connection is off. Please note that this quote is by Interbanks and does not necessarily agree with your broker quote. To get this for free a a pop up window may appear on your screen from time to time. simply close the window and it will disappear. Keep in mind that Forexbody is not compensated in anyway for display of broker website. and that does not make our software an adware. it is a small price we have to pay in order to get this quality data on timely manner.

Suggested Take Profit Limit

Suggested Take Profit limit in points, to get that value in pips just click on the Letters PT you will get:

Suggested Take Profit limit in pips, to switch value to pints click on PIP.

If you in your Forex account are using fractional spreads, you will be dealing with points, if using fixed spreads you will be dealing with pips, each pip equals 10 points when using MT4.

The number that is displayed above represents suggested profit limit for each signal. You can doube click on the number and then right click on it and select Copy to copy number to your trading platform input:

Copy TP from program	Paste TP in MT4

Alternately you may press Cntrl+C to Copy and Cntrl +V to paste in MT4 input field

After you paste the number in MT4 field, you need to press the Blue Copy As button so the the take profit button will be activated if more than required minimum. Once TP button is activated click on it to set profit limit.

Update Equity

As as a trade is closed, type the new equity amount as shown and press Enter. It will be reflected in trade size.

As soon as you change your equity value, another input area will appear, Please enter required margin per 100k lot here, The reason this is not done automatically for you is because we all use different platforms from different brokers with different margin policies, In general Margin requirement for pairs like EURUSD, GBPUSD, AUDUSD and NZDUSD is the price times 1000. so all you have to do is look at the Interbank price displayed and enter the first 4 digits without decimal point. If price looks like 1.4 then the other 2 digits are 00. so if we have a price like 1.42854 we need to input 1428 in the price area. Gold and Silver belong to this group, however this may not be the case with your broker.

If price is 0.7 Enter 700, if like 0.5869 Enter 586 etc.

Dollar pairs like USDCAD, USDJPY, and USDCHF, you need to input 1000 regardless of the current price, Please check with your broker for proper values

The above will no longer be an issue once we include the Expert Advisor in the software, Currently testing and will be released soon. This software will copy the advisor directly into your MT4 and provide you with the best settings that will adjust to the general economic outlook, eliminating the possibility of getting stuck with a losing trade for a long term. The EA will trade for you automatically according to the signal and all TP and Size values. Shown below is a graph of the impressive 5 month back test on EURUSD according to signal parameters. Back testing for longer periods with same parameters did not produce results this good and that is why it is necessary to keep your signal software updated daily.

4 months performance below: EURUSD pair

Forexbody Signal Auto trading Robot for MT4 will be included in this software soon !, Currently Testing on EURUSD.

4 months performance below: GBPUSD pair

Forexbody Signal Auto trading Robot for MT4 will be included in this software soon !, Currently Testing on GBPUSD

This is where practicing a demo account will have great benefit by showing you which are the signals that provide the highest probability of causing profitable trades at different times of the day.

Money Management

Suggested trade volume: this the exact number that needs to be copied to MT 4 trade size input, it can be double clicked to be selected and copied to clipboard.

If you click on letters LOT you will get exact trade amount in (K) thousands of dollars. looking like below:

this shows trade size $17 K and 783 dollars. to get back to LOT click on AMT. Please note that your trading platform only accepts trade size in LOT form. so $17,783 should be in put as 0.177.

Here is a snapshot of MT4 volume entry

Never settle for presets, use properly calculated values because with high leverage small numbers make big differences.

Trade volume is calculated based on your equity input and you should update

equity value after closing every trade.

In Gold and Silver trading your trading platform my not accept more than one digit after decimal point. so remove extra digits.

Normal Trading

Low risk Forex trading is the most advisable for those new to Forex for a simple reason. to make money instead of losing money. The function of this software is then giving you the best time of the day for a Buy trade and the best time of the day for a Sell trade. Trades are then given adequate time to reach an exit which is the suggested profit limit or a trailing stop if you can not watch your trades. If you can watch your trades it is best to leave the trade without limit. in most cases trades do make suggested limit. Those who do not use profit limit may be able to secure additional profits if the currency goes their way with few long candles. however, they may risk losing profits and have the trade turn to a loser after they had a chance to close trade profitable.

Here is an example: In the above chart the GBPUSD started an uptrend minutes after the software generated a BUY signal. within one hour the pair went from 1.5820 to 1.5980 which is 160 pips. The suggested profit limit was 30 pips which would have been made. A 15 pip trailing stop would have secured about 75 pips, meanwhile the trade could be closed manually with 150 pips in profit. Practicing with demo accounts should help you decide the most appropriate exit method to use.

In normal trading mode you are provided with a signal to trade for a term of 12 hours, with an objective to only close the trade after making profits. Stop loss is not an option because you are supposed to have a single trade with a maximum leverage of 10:1, which is not that risky. The suggested trade lot assures that you will not exceed this leverage ratio. All the 8 rules are shown below. You need to follow with great discipline to succeed. If you use EA you will be using more leverage but the EA usually will have protection trades opened daily for you. In some occasions you may have only 4 trades in one direction, in that case you may open one small trade on the opposite direction if you are low on free margin.

Remember that all signals are intended for practice. After adequate practice it is up to you to move on to live account trading.

When using the signal you should stick with one currency per demo account. If you want to use with 2 currencies with same account you should input half the equity value when you update your equity. So if your equity is $6000, and you are going to make an EURUSD trade and GBPUSD trade in the same account, your equity input should be 3000, regardless of the direction of your trades.

If you work according the above rules, you will find yourself once in a while stuck with a losing trade in one of the two directions. You will continue to open and close trades in the other direction and you could have 2 open trades in both directions. Your account should continue to grow slowly overtime, but when you have trades in both directions and the market price is some where in the middle there will some thinking to do. You will have then what is called a hedge. Account will stop growing. You will have few choices to make.

One of the obvious choices would be the removal of profit limits that are assigned to both parts of the hedge, and waiting for a long term trend to be identified. At the same time, when you do this, with a legitimate broker, all the money tucked away for your open positions will be returned to your account, because your perfectly balanced hedged trades support each other and no margin is required. This gives you the opportunity to start trading normally again while leaving your hedge open without profit limits assigned. If you leave any limits or stops assigned on your hedge you should not open another trades, because the hedge could fall any time one of your limit is triggered and the the remaining part of the hedge will then need its margin requirement from the account.

Account will start growing again, until you come to a point in time where a part of your hedge has made substantial profits. The best time to close a Buy trade is when there is a Sell signal, and the best time to close a Sell trade is when there is a Buy signal. When you close the profitable part of the hedge make sure there is adequate margin in the account to support the remaining trade.

In the above figure on Friday, an hour after Buy signal the market took a 70 pip dip, which would take down a stop loss if was assigned. Then the market reversed and went up 180 pips in our favor, The suggested profit limit was made and trades were closed winners for both GBP and EUR in spite of the fact that each pair had a different profit limit assigned.

Expert Advisor

In Forex Signal software click the green button 4th from Last you will get the option shown below:

Click on USE FOREXBODY EXPERT ADVISOR

and you will be taken to a panel where you can download and install robot to your MT4

The following is screen shot of the downloader which you can get elsewhere on other forexbody resources, supports only one broker and one currency.

Each Broker platform loads specific settings for this broker data and GMT offset. This to eliminate errors over GMT settings. SO EA GMT field must always be 0

Also download Forexbody Template in order to attach to your chart quickly

After downloading, the easiest way to load the EA is to load Forexbody Template on your chart

You may choose to download Forex body Template
Once Template is loaded, simply right click on your Chart and Select template > Forexbody. This will automatically load EA Then Load Settings As shown in Step 3 Below

OR do the Following 1st step to load

Forexbody Signal Now can instantly download forexbody Autotrader to your MT4 directory and new broker will be added and updated as tests are completed on their history data.

To start using the robot you need to do the following steps within your MT4 terminal, the following example is for one broker and many more popular brokers will be added as we update.


1. Expand Expert Advisors in MT4 navigator window then right click on forexbody and select Attach to Chart or Drag it to the chart of your choice you will see on the top right corner of the chart.	2. Right Click on the Chart and select Expert Advisors >> Properties, and toy will see a window as shown below, in this window click on LOAD button to load forexbody settings that were already downloaded into your MT4 directory via the signal software. setting file name is brokernamehere-currencynamehere.set and is downloaded to the presets folder inside the experts folder.

3. Make sure that you load forexbody ultimate settings before you turn trading on. Once you do so do not change GMT or order time settings. Time settings circled in red should NOT be changed because they are optimized to current market pattern. If you change time settings the robot will turn from very profitable to a big loser.

When you press the load button you will see the available settings, choose the one that has both the name of your broker and your currency pair in its name. and click open to load. Again DO NOT CHANGE THE TIME SETTINGS, IF YOU DO THAT, NOT ALL YOUR TRADES WILL BE MOSTLY LOSERS BUT ALSO YOU WILL BE SOLITARY AND NOT BENEFITING FROM THE EFFECT OF THE TRADES OF THE MASSES THAT COULD BE USING THE ROBOT, ESPECIALLY THAT MANY FREE COPIES OF THIS ROBOT WILL MULTIPLY ON THE WEB LIKE A WILD VIRUS AT INITIAL RELEASE !

You may lower RiskMax settings to lower risk but you may not use stoploss or change profit limit. The profit limit shown here 460 is for platforms that uses 5 digits after decimal points in currency quotes, If you have 4 digits platform please change 460 to 46. and this is very important.

Click on the Common Tab and place check marks as shown on the left figure

Click Tools menu and choose options and the window below will appear, click on Expert Advisor Field

Place check marks on the following:

Enable Expert Advisors

Allow live trading

Allow DLL import

Allow external expert import

Once you click OK in the above window your expert advisor button will turn green as shown on the left.

A smiling face will appear on the top right corner of your chart. The robot will trade 2 trades a day and can have up to 4 trades open.

The trading robot requires that your computer on during the times trades need to be opened so you r computer and internet connection must be both from from 8 GMT to 23 GMT, Forexbody Autotrader trades only during these hours and all trades are assigned appropriate profit limit and only closed when limit is reached. If you are an expert you may help in closing profitable trades that come very close to profit limit only if you can determine a market reversal. but this is really not necessary.

To test and see if it is going to make trades, just open a very small order and wait few seconds, If a profit limit is assigned to your small trade that means the robot is standing by and ready for trading.

Stop Loss and Profit Limit Back Tests

Stop Loss:

See that in a new account you should not assign stop loss, but when the account has grown it is best to use 500-900 pip away stops. that because the market does come back and a negative sign to left of your trade profits may mean nothing in the end unless you assign a tight stop loss.

To prove my point I made this comparison below: All test are based on EURUSD pair.

Note that at end of the test all trades are closed, since 4 trades are allowed the last 4 trades should not be considered.

1 Trading without stop loss 120 days / 2 trades a day / 10 k start Results below: optimized T/P and time of day:

2. Trading with 50 PIP stop loss 120 days / 2 trades a day / 10 k start Results below: optimized T/P and time of day:

3. Trading with 75 PIP stop loss 120 days / 2 trades a day / 10 k start Results below: optimized T/P and time of day:

4. Trading with 100 PIP stop loss 120 days / 2 trades a day / 10 k start Results below: optimized T/P and time of day:

5. Trading with 125 PIP stop loss 120 days / 2 trades a day / 10 k start Results below: optimized T/P and time of day:

6. Trading with 150 PIP stop loss 120 days / 2 trades a day / 10 k start Results below: optimized T/P and time of day:

7. Trading with 175 PIP stop loss 120 days / 2 trades a day / 10 k start Results below: optimized T/P and time of day:

8. Trading with 200 PIP stop loss 120 days / 2 trades a day / 10 k start Results below: optimized T/P and time of day:

9. Trading with 250 PIP stop loss 120 days / 2 trades a day / 10 k start Results below: optimized T/P and time of day:

9. Trading with 300 PIP stop loss 120 days / 2 trades a day / 10 k start Results below: optimized T/P and time of day:

10. Trading with 350 PIP stop loss 120 days / 2 trades a day / 10 k start Results below: optimized T/P and time of day:

11. Trading with 400 PIP stop loss 120 days / 2 trades a day / 10 k start Results below: optimized T/P and time of day:

12. Trading with 450 PIP stop loss 120 days / 2 trades a day / 10 k start Results below: optimized T/P and time of day:

13. Trading with 500 PIP stop loss 120 days / 2 trades a day / 10 k start Results below: optimized T/P and time of day:

14. Trading with 600 PIP stop loss 120 days / 2 trades a day / 10 k start Results below: optimized T/P and time of day:

15. Trading with 700 PIP stop loss 120 days / 2 trades a day / 10 k start Results below: optimized T/P and time of day:

16. Trading with 800 PIP stop loss 120 days / 2 trades a day / 10 k start Results below: optimized T/P and time of day:

17. Trading with 900 PIP stop loss 120 days / 2 trades a day / 10 k start Results below: optimized T/P and time of day:

18. Trading with 1000 PIP stop loss 120 days / 2 trades a day / 10 k start Results below: optimized T/P and time of day:

18. Trading with 1200 PIP stop loss 120 days / 2 trades a day / 10 k start Results below: optimized T/P and time of day:

Also it must be mentioned here that Forexbody Software Signal must be followed to achieve results like shown above, Lets see what happens to the account if you reverse the signal, like you make Buy instead of Sell and Sell instead of Buy, as shown below, the account will lose 75% after 15 trades !