The Titan X Forex Robot is a trading robot that uses advanced filters and algorithms in order to identify trade opportunities. The Titan X Forex Robot focuses primarily on the EURUSD pair in non-volatile sessions.
This review aims at providing traders with a thorough understanding of the Titan X Forex Robot. By examining its strengths, weaknesses and risk management features, traders can make informed decisions about the integration of this EA in their trading arsenal.
Titan X Forex Robot Strategy
The Titan X Forex Robot is an expert advisor for MetaTrader 4 (MT4). The EA uses a combination advanced filters and algorithm to analyze the market. The EA is focused on trading EURUSD on the M5 Timeframe. The developer recommends that it be used with USD pairs and designed to perform better during non-volatile sessions.
Titan X Forex Robot uses a variety of filters to help make decisions. These filters include Bollinger bands, Hull Moving Averages, ParabolicSAR, Moving Average Convergence Divergence, and Moving Average Convergence Divergence.
The EMA filter helps to identify the direction of the trend by averaging a currency pair’s price over a specified time period. The Stochastic Filter helps identify potential overbought and oversold conditions. The Volatility Filter measures price movements, while the RSI Filter gauges the strength recent price changes. The ATR filters assess volatility and the Bollinger filters also identify potential overbought conditions. The Hull Moving Average, Parabolic SAR and MACD filters help detect trend reversals.
The Titan X Forex Robot has several features that enhance risk management. The Stoploss feature allows traders to set maximum losses for each trade. The Calculator helps determine the appropriate risk level based on your account size and tolerance for risk. The option of using Martingale is also available. This betting strategy involves increasing trade size after a losing trade.
The Titan X Forex Robot’s use of multiple filters is intended to improve the accuracy of trade entry and exit. Reverse Mode allows traders to trade against the current trend. This can be beneficial for capturing possible trend reversals. The Trade Mode allows traders to specify the preferred trading signals they prefer (buy, Sell, or Both).
It is also important to take into account the Titan X Forex Robot’s weaknesses. Martingale is more risky because it increases trade size after losses. This feature should only be used by traders who are able to manage their risks. The EA may also be affected by specific market conditions, and its performance may not always be optimal.
It is recommended that, due to the high risk of trading with Titan X Forex Robots, you thoroughly test its performance on a demo account prior to using real funds. It allows traders to test its performance and functionality and determine if it is compatible with their trading style.
Titan X Forex Robot Features
- It utilizes advanced filters and algorithms to analyze the market.
- The EA focuses on the EURUSD pair for optimal performance.
- The strategy is designed for use with USD pairs only.
- It operates on the MT4 platform.
- The recommended time frame for trading is 5 minutes (5M).
- The EA is compatible with all ECN accounts.
- It incorporates the EMA, Stochastic, Volatility, RSI, ATR, Bollinger, Hull Moving Average, Parabolic SAR, and MACD filters.
- The Reverse Mode allows trading against the current trend.
- Traders can specify buy signals, sell signals, or both using the Trade Mode feature.
- Risk management is facilitated through the Stoploss and Risk Calculator features.
- Traders have the option to use the Martingale strategy.
- The Opposite Signal Control avoids trades against strong trends.
Titan X Forex Robot Settings
- Comment: User-defined comment for trades.
- MAGIC: Unique identifier for trades placed by the EA.
- Slippage: Maximum allowed slippage for trade execution.
- TickEntry: Enable/disable trading on each tick.
- Reverse Mode: Allows trading in the opposite direction of the current trend.
- TRADE: Enable/disable trading.
- Max spread (pips): Maximum allowable spread in pips for trade entry.
- MaxPosition: Maximum number of open positions allowed.
- BaseLots: Initial lot size for trades.
- TakeProfit (pips): Profit target in pips for each trade.
- Stoploss (pips): Maximum acceptable loss in pips for each trade.
- Risk: Enable/disable risk management.
- Use Risk: Use percentage-based risk calculation.
- Risk_percent: Risk percentage per trade.
- MG: Enable/disable Martingale strategy.
- Use Martingale: Use lot size increase after a losing trade.
- Max Martin: Maximum number of Martingale steps.
- Lot Size Multi: Multiplier for increasing lot size in Martingale.
- OppositeSignal: Avoid trades in the opposite direction of a strong trend.
- Opposite Signal Close: Close trades when opposite signals occur.
- Close When Profit: Close trades when a specified profit is reached.
- Trailing_stop: Enable/disable trailing stop for trade management.
- Use_trailingStop: Use trailing stop after a specified profit.
- TS Start: Profit level to activate trailing stop.
- TS Stop: Trailing stop distance from the current price.
- Break_Even: Enable/disable break-even function.
- UseBreakEven: Move stop loss to breakeven when a specified profit is reached.
- Move ToBreakEven: Distance in pips to move the stop loss to breakeven.
- PipsProfitLock: Profit level to lock in profit and prevent it from decreasing.
- Basket_Profit: Enable/disable tracking combined profit/loss of multiple trades.
- Use_BasketProfit: Close trades when a specified basket profit is reached.
- Type_of_basket_close: Define how the basket of trades is closed.
- Manual_input_dollar: Manually input the account balance in dollars.
- Balance_Percentage: Percentage of the account balance to be used for trading.
Titan X Forex robot summary
The Titan X Forex Robot was designed to be used on the MT4 platform. Its strength lies in its use of advanced algorithms and filters to analyze the markets, allowing it to identify potential trade opportunities. Its Martingale feature, which is dependent on market conditions and its performance, should be used with caution. The EA should be thoroughly tested in a demo and the risk management settings set correctly. This forex EA will suit traders who are looking for a systematic trading approach and are willing and able to test and monitor its performance.