Greedy Red Expert Advisor is tailored around Volume Profile FR, a robust indicator for analyzing market volumes at different price levels. While conventional volume indicators merely reflect candle volumes, Volume Profile FR delves deeper, allowing traders to pinpoint crucial areas ripe for potential reversals. This includes identifying support and resistance levels based on volume data. Greedy Red (GR) leverages Volume Profile FR to identify these support and resistance levels and execute trades accordingly. Download the Volume Profile FR Indicator now for enhanced trading insights.

Trading Recommendations:

Optimal trading pairs include AUDNZD, NZDCHF, AUDJPY, EURNZD, CHFJPY, AUDCAD, EURUSD, CADJPY, EURAUD, NZDCAD, NZDJPY, EURJPY, USDCAD, and XAUUSD. Preferred timeframes are M15, M30, H1, and H4, with M15 showing the most promising results. The minimum deposit requirement is $100 for Cent Accounts (equivalent to 10,000 cents) or $800 for Standard Accounts, with leverage set at a minimum of 1:30. Any broker can be utilized, though ECN accounts with low spreads are recommended. Account currencies supported are USD and EUR.

Algorithm Overview:

The Expert Advisor (EA) utilizes the RSI Divergence Indicator to detect market divergences and initiate trades accordingly. It employs a trail stop mechanism to manage trades, adjusting stop-loss levels as per market movements. In case of divergence, the EA utilizes the Martingale method to increase position volume, while all positions are equipped with stop-loss orders to mitigate unexpected market fluctuations. Profit-taking is not predetermined, as trades are closed using the trail stop mechanism to maximize potential gains. The EA autonomously handles all trade-related operations, including position opening, trail stop adjustments, money management, and risk protection.

Enhanced Performance Tips:

For optimal performance, consider trading on accounts with lower spreads and commissions. Utilize the EA’s time filter feature during market fluctuations and major news releases. Running the EA on multiple charts concurrently can help maximize profits. Updates are readily available for download, even with open positions; simply replace the existing version and input the “Magic letter” as before. Symbol recommendations are based on daily volatility and adherence to effective money management practices.

Additional Notes:

When using the EA across multiple charts within a single account, remember to adjust the “Magic Letter” setting accordingly for each chart. Avoid manual position adjustments or modifications; trust the profitability of the EA to generate profits on your behalf.