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

EA Settings 

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.

1. 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.
2. 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
3. You can select which timeframes you want to use when using the Finder function.
4. 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.
5. You can even use  your own imported sounds using this setting
6. 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.
7. 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.
8. 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.
9. You can select which Position Sizing approach to use. It is Suggested that you use  manual at 0.01 to start with.
10. 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.
11. 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.
12. 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.
13. The direction of trade can be changed if you wish (only recommended in a very strongly trending market)
14. Your stop loss in pips can be entered here
15. Your target in pips can be entered here
16. You can also exit using a Trailing stop.  Enter the trailing stop details here.
17. For lower timeframes it is best to specify a time of day to open new trades.
18. You can also specify the days you want to trade
19. You can change the colors used on your finder tables on your charts
20. If your broker uses a currency cross suffix or prefix enter it here e.g. EURUSDecn - enter the ecn.
21. 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)

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

JUST TO REPEAT:

This is an easy EA to trade but you need to test it for a week or 2.

Step 1: Open a demo account with a balance of at least $10 000.

Step 2: After you have installed the Forex Dream Machine go the the setting called "Trading Timeframe". This is a drop-down menu. Select either the 1 hour or 4 hour timeframe ( The 1 hour produces more transactions)

Step 3: Go to the "Trading approach setting". It is also a drop-down menu. Select what type of approach you want to use - aggressive, balanced or conservative. Aggressive produces the most transactions.

Step 4: Activate the Autotrading button.

That's it -  you are trading !!

Watch all the videos created for DreamMachine Traders :

DreamMachine  Videos

The DreamMachine now comes with an additional Plug-n-Play version that only requires 2 setting inputs - watch this video for more details.

There are 4 versions of The Dream Machine: MT4 and MT5 versions; as well as Plug n Play versions for MT4 and MT5 platforms.

Learn how you can trade with limited funds using 1c accounts. These accounts treat cents as dollars. $100 become a $10 000 account. This allows you to trade all Forex robots with relatively small amounts capital.