Forex Autopilot System – Open Source

Posted on January 20, 2009 by Yohay
Filed Under Forex Software | 5 Comments

While searching for information about Forex Autoplilot systems, I’ve asked a question on Forex Factory, and found an interesting project. A participant named LongToBeeFree created a nice piece of software that creates trades automatically – a forex autopilot system.

In the first post, he explains about using the Turtles system for getting signals and creating trades. His first version of the software received lots of comments, in a discussion that went on for three pages.

Here are the principles of his autopilot software:

  • The Turtles is based on 20-day and 55-day breakouts. This EA will draw lines showing each of these levels along with some exit levels.
  • The Turtles also limited themselves to 4 positions in any single market. So, when a position is created, it also creates the 3 pending orders that will be needed, should those levels be hit
  • For stops, ATR(20) is used, which is the equivalent of the Turtles “N” number. A secondary stop is a 10-day breakout in the opposite direction

Following this discussion, he created an upgraded, better version of this software, and posted it here. This is truly a forex autopilot software that was also developed by the community – open source!

He explains why it is free:

In the spirit of the Turtles founder, who believed in sharing of information, I’m posting this completely free. I only ask that you maintain the header & copyright information in the code.

This might be a helpful and genuine forex autopilot system, that is even free. I hope to test it by myself soon, and to use it for forex trading.

Thank you LongToBeeFree. You can check out his blog here.

Want to see what other traders are doing in real accounts? Check out Currensee. It’s free.

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Comments

5 Responses to “Forex Autopilot System – Open Source”

  1. nanningbob on December 25th, 2009 7:50 pm

    Why in the world would you recommend an EA that didnt even last two pages on FF forums. Strange????

  2. Forex Posts - 15 most popular in 2009 | Forex Crunch on December 27th, 2009 6:27 pm

    [...] Forex Autopilot System – Open Source [...]

  3. Thinking of Easy Money? Don’t look in forex | Money show Home on December 29th, 2009 5:59 am

    [...] order to separate forex autopilots from their bad image, I prefer open source forex software. With open source, the methods that are used to automate forex trading are visible to everyone [...]

  4. Forex Autopilot System on February 23rd, 2010 8:16 am

    Have you heard of the Forex Robot World Cup competition?
    329 Forex robot compete in live trading account with $1000 in each account.
    From the 329 entry , they choose the best top 5 that is making the highest and consistent profit and merge it into one and thus the most profitable and the best forex trading robot was born.

  5. Thinking of Easy Money? Don’t look in forex « MYFXDEALS.COM on May 5th, 2010 3:22 pm

    [...] order to separate forex autopilots from their bad image, I prefer open source forex software. With open source, the methods that are used to automate forex trading are visible to everyone [...]

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