# famacheck - MT4 Expert Advisor | Automated Forex Trading System

Overview

famacheck is a professional MetaTrader 4 Expert Advisor (EA) designed for automated forex trading. This powerful trading robot executes trades automatically based on predefined strategies and technical indicators, allowing traders to take advantage of market opportunities 24/7 without manual intervention.

Key Features:

• Fully automated trading system
• Compatible with MetaTrader 4 platform
• Advanced risk management tools
• Professional trading algorithms

Trading Strategy & Indicators

This Expert Advisor utilizes advanced technical analysis through the following indicators:

Price Action & Technical Analysis

This Expert Advisor employs sophisticated price action analysis and technical indicators to identify high-probability trading setups. The system analyzes market conditions in real-time to make informed trading decisions.

How It Works:

The EA continuously monitors the market, analyzing price movements and indicator signals. When specific conditions are met, the system automatically opens trades according to the predefined strategy. The algorithm is designed to identify optimal entry and exit points while managing risk effectively.

Risk Management Features

Stop Loss Protection

WARNING - Not Configured - Consider setting stop loss levels manually or through EA parameters to protect your account.

Take Profit Targets

WARNING - Not Configured - The EA may use other exit strategies. Review parameters for profit-taking mechanisms.

Trailing Stop

INFO - Not Available - Standard stop loss and take profit are used for risk management.

Money Management

INFO - Fixed Lot Size

This EA uses fixed lot sizing. You can configure the lot size through the EA parameters. For advanced money management, consider:

• Setting appropriate lot sizes based on your account size
• Using proper risk management principles
• Monitoring account equity regularly
• Adjusting position sizes as your account grows

Martingale Strategy

YES - No Martingale Strategy

This EA does not use martingale or lot multiplication. Each trade is independent with consistent position sizing, providing:

• Predictable Risk: Each trade risks the same amount
• Lower Drawdown Risk: No compounding losses from increased lot sizes
• Stable Performance: More consistent equity curve
• Easier Risk Management: Simpler to calculate and manage risk

Entry & Exit Signals

Entry Conditions

The EA analyzes multiple market factors to identify optimal entry points:

• Technical Indicator Signals: Monitors indicator crossovers, divergences, and momentum
• Price Action Patterns: Identifies chart patterns and price movements
• Market Conditions: Assesses volatility, trend strength, and market structure
• Risk/Reward Ratios: Evaluates potential profit versus risk before entering

Exit Strategy

The system uses multiple exit methods:

• Take Profit Targets: Closes trades when profit targets are reached
• Stop Loss Protection: Exits losing trades at predetermined levels
• Trailing Stops: Protects profits by following price movements
• Signal-Based Exits: Closes positions when exit conditions are met

Configuration & Setup

Key Parameters

Configure the EA through MetaTrader 4's input parameters. Key settings typically include:

• Lot size or risk percentage
• Stop loss and take profit levels
• Indicator parameters
• Trading hours and filters

Installation Steps

1. Download the EA file (famacheck.mq4)

2. Copy to your MetaTrader 4 Experts folder

3. Restart MetaTrader 4 or refresh Navigator

4. Attach to a chart (any timeframe)

5. Configure parameters according to your trading preferences

6. Enable AutoTrading in MT4

7. Monitor performance and adjust as needed

Recommended Settings

• Account Size: Minimum 500-1000 USD for proper risk management
• Broker: ECN or STP broker with tight spreads
• Currency Pairs: Test on major pairs first (EUR/USD, GBP/USD, USD/JPY)
• Timeframe: Use the recommended timeframe for best results
• VPS: Consider using a VPS for 24/7 operation

Performance & Optimization

Backtesting

Before live trading, always:

• YES Test on historical data
• YES Verify strategy performance
• YES Check maximum drawdown
• YES Analyze win rate and profit factor
• YES Test different market conditions

Optimization Tips

• Parameter Tuning: Adjust indicator periods and risk settings
• Market Conditions: Test in trending and ranging markets
• Pair Selection: Some pairs may perform better than others
• Timeframe Analysis: Different timeframes may yield different results
• Risk Settings: Find optimal risk/reward balance

Important Notes & Disclaimer

WARNING - Risk Warning: Trading forex involves substantial risk of loss. Past performance does not guarantee future results.

CHART - Testing Required: Always test EAs on a demo account before live trading.

MONEY - Capital Management: Never risk more than you can afford to lose.

CHART - Market Conditions: EA performance varies with market conditions. Monitor and adjust as needed.

CHART - Continuous Monitoring: Even automated systems require periodic review and optimization.

SEO Keywords & Tags

Primary Keywords: MT4 Expert Advisor, Forex EA, Automated Trading, MetaTrader 4, Trading Robot

Secondary Keywords: MT4 Expert Advisor, Forex EA, Automated Trading, MetaTrader 4, Trading Robot

Related Terms: Algorithmic Trading, Forex Automation, Currency Trading, Expert Advisor Strategy, MT4 Indicators, Risk Management, Money Management, Forex Robot

Technical Specifications

• Platform: MetaTrader 4
• File Type: .mq4 (MQL4 Source Code)
• Trading Mode: Automated
• Compatibility: MT4 Build 600+
• License: Check product license terms

*This documentation was automatically generated and enhanced for better readability and SEO optimization. Always review the EA code and test thoroughly before live trading.*

Last Updated: 2026-02-21