About the Venom Expert Advisor
The Venom EA Forex robot for Metatrader 4 deploys a martingale trading strategy with a digital filter to trade the Forex market automatically.
The EA made $233.54 during the initial test period (see strategy tester report below) when attached to the AUD/CAD, AUD/NZD, and NZD/CAD currency pairs.
The Venom EA can be used with any Forex broker and works on all time frames.
As always, please use this EA on a demo account first until you fully understand how it works and how it performs over an extended period of time.
Free Download
Download the “Venom EA.ex4” expert advisor
Key Features
Martingale Trading Strategy
The EA utilizes a martingale strategy, which involves increasing the trade size after a loss to recover from previous losses. This approach aims to capitalize on market reversals.
Digital Filter
A digital filter is employed to analyze market conditions and filter out trades during unfavorable conditions, enhancing the EA’s performance and reducing risk.
Automated Trade Execution
Trades are opened and closed automatically based on predefined rules, reducing the need for manual intervention and allowing for consistent trading operations.
Compatible with Various Currency Pairs
The Venom EA can be used with any currency pair, providing flexibility for traders to choose instruments that align with their trading strategies.
Works on Any Time Frame
The EA operates on any time frame, offering versatility for traders who prefer different chart setups.
Strategy Tester Report
Find below the Venom EA track record (click on the picture for a full-size view).
Key Points
- Gain: +23.35%
- Daily gain: +0.26%
- Profit: $233.54
- Drawdown: 9.96%
In backtesting on the AUD/CAD, AUD/NZD, and NZD/CAD currency pairs, the Venom EA achieved a total profit of $233.54 with a drawdown of 9.96%.
The daily gain was approximately 0.26%, demonstrating the EA’s potential for consistent returns.
Trading Chart
The picture below shows the Venom expert advisor attached to the EUR/USD 1-hour chart.
How the EA Works
- Monitors market conditions using a digital filter to identify favorable trading opportunities.
- Employs a martingale strategy to manage trades and recover from losses.
- Automatically opens and closes trades based on predefined rules and market analysis.
- Compatible with various currency pairs and time frames, providing flexibility for traders.
- Operates on MetaTrader 4, requiring minimal supervision once installed.
Download Now
Download the “Venom EA.ex4” EA
Parameters & Settings
- Magic number: Unique identifier for the EA’s trades, useful for managing multiple EAs.
- User slippage: Adjustable parameter to define the maximum allowable slippage.
- Grid size: Configurable distance between orders in the martingale strategy.
- Take profit: Set the desired profit level for each trade.
- Profit lock: An Optional feature to lock in profits after a certain level is reached.
- Lot size: Adjustable to suit your trading preferences and account size.
- Account risk cut: Defines the maximum allowable risk per account.
- Account profit cut: Sets the profit level at which the EA will stop trading.
- Progression: Configurable parameter to define the progression of lot sizes in the martingale strategy.
Recommended Trading Setup
- Timeframe: Any (1-hour chart recommended for optimal performance).
- Currency pairs: AUD/CAD, AUD/NZD, NZD/CAD.
- Minimum account balance: $100 to accommodate potential drawdowns.
- Broker: Choose a broker with low spreads and fast execution speeds.
- Demo account: Test the EA on a demo account before live trading to understand its behavior and performance characteristics.
FAQ
Can I use the Venom EA with any Forex broker?
Yes, the EA works with any MetaTrader 4 broker that allows automated trading. Brokers with low spreads and fast execution provide the best results.
Is a VPS necessary for running the Venom EA?
A VPS is not required but recommended. It ensures the EA operates continuously, even if your computer or internet connection experiences interruptions.
What is the minimum account balance required?
The minimum recommended balance is $100. For enhanced performance and better risk management, a balance of $200 or more is advised.
How does the Venom EA handle market volatility?
The EA uses a digital filter to analyze market conditions and filter out trades during unfavorable conditions, reducing exposure to volatile markets.
Summary
The Venom EA is a powerful and easy-to-use automated trading tool for MetaTrader 4.
Its combination of a martingale strategy and digital filter allows it to trade multiple currency pairs effectively while managing risk.
Designed for both beginners and experienced traders, the EA operates reliably across different time frames.
It is strongly recommended to test the EA on a demo account first to fine-tune settings and understand its trading behavior before deploying it on a live account.
