In July 2017 we made traders aware of an indicator called the Spaghetti Indicator. What a great indicator! It shows the most overbought Currency in the whole market and the most oversold currency in the whole market. Naturally it makes sense to trade these 2 currencies against each other as a trader would have a 200% chance of getting the direction right as these extremes are often unsustainable.
The problem is that this was an indicator and the trader would have to watch the indicator and trade opportunities manually.
Automation of this great concept
After considerable positive feedback from many of our clients using the Spaghetti indicator we have decided to turn this indicator into a trade-able Robot or expert advisor. This has considerable advantages as traders no longer need to watch the market anymore. Testing can also be done to determine the best entry and exit signals for every timeframe.
So what does this EA do?
It monitors, aggregates and averages RSI readings of all the currencies traded in the Forex Market. When a currency, on average, is highly overbought or oversold compared to ALL other currencies then that is very significant as that is an unusual and unsustainable status to be in. So it makes sense to trade the most highly overbought currency against the most highly oversold currency.
It also make sense to exit when those 2 currencies come back to normal or reach a predetermined profit goal
View this video for an overview of the Forex Dream Machine
Please bear in mind that this EA has only been built and tested during January and February 2018. It has therefore only been back tested. This back testing has been very thorough and has produced very good and consistent results.
Looking at the testing results it does look like this EA favours the currency crosses with high volatility. Testing has shown that the best results come from the 4 hour and 1 hour time frames. The main drivers of profitability are the RSI settings and the Difference setting. The most efficient RSI setting appear to be 4 and 6. The most efficient Difference settings are 50 and 60.
See the Dream Machine trading
The above video is a open price version to show the trading as it happens. Below are the tick based results over the period tested (1 July to 31 December 2017). Notice the low account required due to low drawdowns and an 80% success rate. Clearly, this EA also has account doubling potential as $500 was taken to $1800 in 6 months trading 1 lot per trade in this example.
This is not an easy EA to back test as most testers only allow your to test one currency cross at a time whereas the Forex Dream Machine trades the whole market at the same time. To help you get an idea of the potential profitability of this EA we have back tested each of the possible 28 currency crosses individually using the same major settings: Timeframe - 4 hour, RSI settings 4 and 6, Difference setting of 50. The 4 hour timeframe and these settings have proved to be the most efficient results overall.
Please use the results on the left a mere guides as to the highest potential returns achievable.
They represent the results that can be expected when using the aggressive settings.
The results are for the 6 months from 1 July 2017 to 31 December 2017
What is nice about this EA is that it is relatively simple and once setup you do not need to do much. Below is an overview of the inputs. For a more detailed explanation of the input please consult the User Manual.
- Enter the period of the RSI you want to use. 4 or 5 is normally good. Higher than 5 you will get less transactions and lower than 4 you may get too many. This setting applies to both the Finder and Trader functions.
- The entry difference between the most overbought currency and most oversold currency can be entered. 50 to 70 is normally good. Higher than 70 will result in fewer transaction but potentially higher success rates. See the results on this page for results recorded for the various currency crosses
- You can select which timeframes you want to use when using the Finder function.
- You can select any of the 4 types of alarms or notifications you will get. It might take some time to get the balance between too many alarms and too few alarms.
- You can even use your own imported sounds using this setting
- Use this setting to identify the times of the day you want to receive alarms. This is intended to give you time to sleep peacefully.
- This is a trading setting where you can select the timeframe you want to trade. IT IS A DROPDOWN MENU with 3 choices. "No Entry On Any Timeframe" turns the trading function off. Then select one of the 1 hour or 4 hour time frames. The other timeframes are not as robust or profitable but can be traded when using the "Custom: User Configured" setting in the next setting.
- Select your trading approach. THIS IS A DROPDOWN MENU. When selecting the "Custom: User Configured" setting you can use you own settings provided in the next few settings. If you select the Aggressive, Balanced or Conservative setting hard-coded setting will be used.
- You can select which Position Sizing approach to use. It is Suggested that you use manual at 0.01 to start with.
- Select the currencies you want to trade. Please take the guidance on the account size for the the number of currencies on this page into account.
- If you need to restrict the number of open deals you want to have due to your accounts size or to minimise risk use this setting.
- One of the exits is that when currencies return from their overbought or oversold states they will go into a state where thy reverse their roles. When this happens you can exit when this happens using this setting. Please bear in mind there are many other exit options.
- The direction of trade can be changed if you wish (only recommended in a very strongly trending market)
- Your stop loss in pips can be entered here
- Your target in pips can be entered here
- You can also exit using a Trailing stop. Enter the trailing stop details here.
- For lower timeframes it is best to specify a time of day to open new trades.
- You can also specify the days you want to trade
- You can change the colors used on your finder tables on your charts
- If your broker uses a currency cross suffix or prefix enter it here e.g. EURUSDecn - enter the ecn.
- Use this setting to set the number of trigger you want to see in the Trigger Finder Table.
Use a different magic number for every different set of setting to manage your EA properly
If there are no set files how do I use the hard-coded settings?
STEP 1: Decide which timeframe you want to trade from the drop down menu shown on the right
STEP 2: select the trading approach you want to foll from the drop-down menu as shown on the right
The EA will automatically match the timeframe you selected with the trading approach and load the settings into the Dream Maker Trader
PLEASE NOTE: When selecting the hard Coded (preset) options you do not need to worry about the other settings. Changing the input settings will not change the results as all the settings are hard coded ( details of these settings are available on the forum)
Please note that the hard-coded settings are provided to you to help you learn the Dream Machine. They are not a guarantee of EA success. They are provided to give you a quick start to learn to trade the EA. As suggested on our marketing page you should trade them on a demo account for 2 to 3 weeks to see what results you get and then decide whether you need to make changes to the settings. Remember there is no EA that will make gains every day, or every week or every month consistently. EA results depend of the market conditions when you start trading them.
Setting up is easy:
We supply you with 6 hard codes setting (see the settings part of this page) 3 for the major timeframes each ( 4 Hour and 1 Hour). These are to get you started.
The 3 files are made up of
- Aggressive settings,
- Balanced settings and
- Conservative settings.
(As easy as A, B,C)
So activate your EA, Select your settings and YOU ARE READY TO GO.
We suggest you demo trade for 2 weeks to make sure you are happy with the EA functionality.
The Forex Dream Machine MT4 Expert Advisor. Trading strong against weak currencies. An Introduction
The Forex Dream Machine MT4 EA. The Forex chart RSI readings information display created by the EA
Account size guide assuming a micro account (0.01) lot sizing. Once you have tested the EA for a few weeks you can refine these guides.
When considering the account size one should use when trading EAs there are many factors to consider:- The number of currencies traded, the timeframe traded, broker margin requirements, potential drawdowns, number of open deals and lot sizing you are going to use.
To make it easy the table on the left shows the account size you should start out with when using a micro account (0.01 lot sizing).
The best test you can do is to demo trade all 8 currencies for a month to see how much of your demo account balance was used to finance drawdowns and margin requirements
Currency refers to a major currencies i.e. EUR . A cross is what is traded i.e. EURUSD
It should be easily used by US traders as the number of open trades is controllable and the likelihood of hedging and FIFO problems remote.
Technical and installation support
All Expert4x EA are fully supported by EAFactory from a technical perspective.
All upgrades are free and a comprehensive user guide is available. If you would like to please click the link below to download it before you purchase.
Recent Client feedback: "Over the past 8 years I have purchased -- no exaggeration -- over 100 EA's and as such have dealt with scores of support staff re: these EA's. I just want to express my appreciation to your support group for the timely & detailed explanations for my specific issues. Typically tech support leaves quite a bit to be desired but you guys get A+ ratings for your efforts!"
Trading and Training
Expert4x supplies the trading and training support. Please make use of the contact us facilities on this website if you have any questions. Please note that we supply all of the training and videos for this EA on this page so that you can see how the EA works and how you will use it BEFORE you purchase it. There is also a Forum with more information on settings and an opportunity for discussions: FORUM
Bought a number of your products. This seems the best by far. Up and running in ten minutes. Seven closed trades six positive. Love it.Mike
Just set up the EA - and Alex is right - about 10 minutes max!Doug
Never saw anything easier than the setup for this Dream Machine EAMarius
Incredible, took minutes... Thanks Alex and congrats
Dream Machine Forum
Purchase your EA at the current price here
The EA can be used as often as you want on as many broker trading accounts you want as long as you do not use it on more than 2 computers. If you are a first time Expert4x client. Please use the PayPal button on the right - Price $278.00
*** 50% discount to Existing EA clients
Existing clients with an EAFactory log in can purchase the EA for a 50% discount by using the 50% discount PayPal buttons on the EAFactory website . Price $139.00
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