Introduction
Welcome to the world of Parallax FX, a trading robot designed for the AUDUSD H1 chart. Developed by Michael Prescott Burney, this EA promises aggressive yet strategically prudent trading. With a rating of 5.0 and positive feedback from users like deafort7, it seems to be a crowd-pleaser. But let's not get carried away. We'll dive into how to install and configure this robot, share our experience, and offer some tips for improvement.Installation and Setup
Installing Parallax FX is straightforward, but setting it up for maximum efficiency requires a bit more finesse. Follow these steps:- Download the Parallax FX EA from here.
- Open MetaTrader 5 and navigate to the File menu.
- Select Open Data Folder and place the downloaded EA file in the Experts folder.
- Restart MetaTrader 5.
- Attach the Parallax FX EA to the AUDUSD H1 chart.
- Configure the input parameters, such as MA_Period, Alligator_JawPeriod, and DeMarker_Period, to suit your trading strategy.
- Set your risk management parameters, including StopLoss and TakeProfit.
- Enable auto-trading and let the EA do its job.
Experience Using Parallax FX
Using Parallax FX has been an interesting journey. The robot employs a blend of indicators like Moving Averages, Alligator, and DeMarker to make trading decisions. It can execute up to 100 trades simultaneously, which is impressive. However, don't let the numbers fool you. The real test is in its performance, and while it has shown promise, it's not without its quirks. The intelligent reversal mechanism is a nice touch, but always keep an eye on the market dynamics.Tips for Improvement
To get the most out of Parallax FX, consider the following tips:- Customize Indicator Settings: Tailor the input parameters to match your trading style.
- Monitor Performance: Regularly check the EA's performance and adjust settings as needed.
- Risk Management: Use conservative risk management settings to protect your capital.
- Stay Updated: Keep an eye on updates and improvements from the developer.
Source Code of Parallax FX
We don't have access to the original source code of Parallax FX sold on MQL5. However, based on its description, we have created a sample code. If you have any questions about the code, feel free to ask. This is an example code from easytradingforum.com, based on the description of Parallax FX. Note that the EASY Trading Team does not sell Parallax FX; we only created a code based on its description.
Code:
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