The GerFX EA is a trading tool designed to capture forex momentum after major financial events like central bank announcements and speeches. The main idea behind this EA is to detect the early stages of a new trend and act accordingly.
Forex Momentum Capture EA scans for strong price movements that could indicate the start of a trend. When it sees such momentum, it opens trades in the direction of that trend. At the same time, it also places pending orders to catch a reversal if the trend does not continue possibly. This way, the GerFX EA tries to take advantage of trend continuation and sudden changes in direction.
Key Features of Forex Momentum Capture EA
- MultiCurrency and MultiTimeframe – Forex Momentum Capture EA can handle several currency pairs and timeframes simultaneously. It is not limited to just one symbol or chart.
- Single Chart Usage – The tool is designed to run from a single chart. Traders should not try to run it on multiple charts with the default settings, as doing so would lead to multiple trades on the same pairs, which might result in too many open positions.
- Risk Control – For each chosen timeframe, the EA can have one open trade. This feature allows users to control their risk exposure by selecting fewer timeframes if desired.
- No Martingale or Grid Strategy – GerFX EA does not use high-risk trading strategies such as martingale or grid systems, which are known for increasing trade sizes after losses.
- Currency Pairs Compatibility – The EA is suited for trading currency pairs involving USD, EUR, GBP, CAD, and AUD. For the Swiss Franc (CHF), the developer recommends using it only with USDCHF and EURCHF pairs. This may be due to the behavior or stability of CHF in the market.
Recommendations
- EA can open up to 16 positions (4 time frames on 4 pairs) after an event, and each position requires 0.01 lots. Therefore, the account size for 0.01 lots is between $1500 and $2000.
- This EA is a one-chart setup, so it only needs to be attached to one pair. It will trade on all pairs and timeframes described in the input parameter.
- Works best on EURUSD, EURJPY, EURAUD, EURCAD, GBPUSD, USDCAD, USDCHF, GBPJPY, AUDJPY, USDJPY, AUDUSD, EURGBP, EURCHF, and CADJPY. (Work on any Pair)
- It will trade on all the timeframes specified in the input parameter.
