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.
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