The presented Forex tools can assist you both in technical analysis and money management which will greatly enhance your trading results. All these online Forex tools are totally free and can be used at no cost:

MT4 Expert Advisors - Download free expert advisors for a Metatrader 4 trading platform. Test and use these EAs to empower your automated Forex trading and also to help the developing of your own Metatrader expert advisor or Forex strategy.

Framework Expert Advisor

Framework Forex expert advisor uses three Commodity Channel Index (CCI) indicators crosses to determine position opening and closing. It is very simple, yet effective expert advisor. It also performs checks for available free margin to stop trading if it is bankrupt. This EA doesn’t trade if bars didn’t change or there were no 100 bars yet.

My test of Framework MetaTrader expert advisor gave a very good result using GBP/JPY pair on a daily chart using just 0.1 standard lots - about $20,000 profits over $10,000 account in one year, with just about $2,000 maximum drawdown. I’ve also checked it on a three years period and its performance showed the same stability.

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Do you have your own trading results or any other remarks regarding this expert advior? Don’t hesitate to contact me.

Phoenix Expert Advisor

Phoenix Forex expert advisor is a very complicated EA. It uses many standard MetaTrader 4 indicators (like moving averages and envelopes) to determine the position entry and exit points as well as position parameters. This expert advisor has many input parameters and internally stored data sets for each of the five currency pairs it can be used to trade with. The abundance of the indicators and conditional checks make Phoenix expert advisor a little slower for CPU to process.

My test of the Phoenix MetaTrader expert advisor resulted in about $6,400 profit using GBP/USD pair on a fifteen minute timeframe using 1 standard lot to open positions. Testing was done over a one year period, with maximum drawdown as little as $96. I’ve also checked it on a three years period and it showed the same performance.

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Do you have your own trading results or any other remarks regarding this expert advior? Don’t hesitate to contact me.

Artificial Intelligence Expert Advisor

Artificial Intelligence Forex expert advisor uses a very simplistic imitation of the neural network to produce buy and sell signals and trailing stop losses. It is not a real neural network, because it doesn’t learn from market, instead you need to optimize it to the market to set the most fitting parameters. Its perception function uses the Bill Williams’ Accelerator/Decelerator oscillators, which are weighted according to the set parameters. Expert advisor also performs checks for available free margin to stop trading if it is bankrupt.

My test of Artificial Intelligence MetaTrader expert advisor resulted in $1,700 profit using GBP/USD pair on a one hour chart using just 0.1 standard lots. It was achieved on standard $10,000 account in a one year period, with insignificant $20 maximum drawdown. This expert advisor was also checked on a three years period and its performance showed the same proportional gain.

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Do you have your own trading results or any other remarks regarding this expert advior? Don’t hesitate to contact me.

myFXOverEasy Expert Advisor

myFXOverEasy Forex expert advisor uses a FXOE-Combo custom indicator, which in its turn is a combination of four other custom MetaTrader 4 indicators: Slope, Trend, LRSI and AscTrend (if enabled via input parameters). This expert advisor is using the strategy originally developed on StrategyBuilder forum, but it is trading against the strategy (as it was tested by me, it yields better results). All required indicators and display template are included into this EA package.

Testing myFXOverEasy MetaTrader expert advisor over a one year period gave more than $1,800 profit using USD/CHF currency pair on a four hour timeframe. The maximum drawdown didn’t exceed $600. Testing its performance over last three years also confirmed its stability.

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Do you have your own trading results or any other remarks regarding this expert advior? Don’t hesitate to contact me.

Binario Expert Advisor

Binario Forex expert advisor is based on the exponentional moving averages of the same period but for the different price ranges (high and low). But this expert advisor doesn’t use any buy or sell signal, it simply opens buy and sell position turnwise and modifies their parametrs according to the calculated moving averages. It uses a stop-loss and real-time order monitoring to close the positions. Position in the opposite direction is opened right after one is closed.

My automatical testing of Binario MetaTrader expert advisor gave some intersting results using GBP/USD pair on a daily chart using 0.1 standard lots - about $50,000 profit on $10,000 account in one year, with a maximum drawdown below $3,000. I’ve also checked it on a three years period and its performance showed the same stability. But there is a serious problem with this expert advisor - it made only 4 trades during the year. So there is no real reason to use it as the automatic EA - just use its strategy for manual trading and you’ll have nice long-term profit.

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Do you have your own trading results or any other remarks regarding this expert advior? Don’t hesitate to contact me.

myRandom Expert Advisor

myRandom Forex expert advisor is my own experimental MT4 EA inspired by the seeming randomness of financial trading in general and the Forex trading. Of course, such approach goes astray with the dominant technical and fundamental analyses approach. But it can be considered as the only acceptable method for the believers in the random walk hypothesis.

This EA is very simple; it doesn’t use any market indicators. The only condition it checks to decide the direction of the next position (buy or sell) is the random number - if it’s an odd number EA goes short, if it’s an even number EA goes long.

There are 6 input parameters to tune this expert advisor. Their default settings should be OK for the test GBP/JPY H1 chart, but you can toggle them as you wish to test your money management strategy as it is the only strategy that is applied to such random trading. Here is the list of the input parameters:

• Lots - the number of standard Forex lots to open positions for.
• Slippage - the acceptable price slippage.
• RandomEntryPeriod - the number of bars the EA will wait to open a new position.
• StopLoss - the stop-loss value in pips.
• TakePorfit - the take-profit value in pips.
• MaxPositions - the maximum number of the open positions at the same time.

Despite its seeming uselessness the random Forex trading proved to be profitable on the backtesting performed in the strategy tester. So, if you want to try something new and original myRandom EA is a good choice.

This EA is using a orders’ Magic number to track the number of currently open orders for the selected currency pair. So it’s safe to trade with it on multiple currency pairs/timeframes in one account.

Testing myRandom expert advisor over a one year period showed almost $1,650 of profit on the GBP/JPY H1 pair/timeframe combination. The maximum drawdown was as low as $29. Testing its performance over the last three years also confirmed its stability.

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Do you have your own trading results or any other remarks regarding this expert advior? Don’t hesitate to contact me.

Amazing Expert Advisor

Amazing Forex expert advisor is not a common expert advisor which would use some implemented trading strategy and earn you money automatically. It is a “news trader”. A form of automated breakout trader which only works on the set date and time (the ones of the Forex related news, like interest rates decision, you are expecting). You give it the day, hour and minutes of the upcoming news release and it determines the best breakout ranges, stop-loss, take-profit and trailing stop-loss to use in the current market conditions.

Obviously enough I do not include any test results with it. I just recommend you to use it if you are in the Forex news trading and prefer fundamental analysis over the technical analysis.

MiniFAQ

What input parameters do I need to set?

There are only 3 parameters that require your modification — Day, Hour and Minute of the news release:

1. NDay — should be set to the day of month (from 1 to 31) on which the news comes out; this day should within the current month and the current year, of course.
2. NHour — should be set to the hour (from 0 to 23) when the news comes out.
3. NMinute — should be set to the minute (from 0 to 59) when the news comes out.

Don’t forget to check the difference between the time zone of your MetaTrader 4 platform and the time zone of the news you are awaiting.
You can also modify other paramters if you want:

• TP — target profit in pips.
• CTCBN — number of candles to check before the news release to determine the high and lows.
• SecBPO — seconds before the news release to place the pending orders.
• SecBMO — seconds before the news release when the orders can no longer be modified.
• STWAN — seconds after the news release to delete all pending orders.
• OCO — if one order is triggered it will cancel the other.
• BEPips — number of profitable pips before using a traling stop.

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Do you have your own trading results or any other remarks regarding this expert advior? Don’t hesitate to contact me.