The US30, also known as the DJ30, Dow Jones Industrial Average (DJIA), Dow30, and DE40 (also known as DAX40/GER40) Index, are traded by the DAX Forex EA, a robust and interesting Index EA for MT4. To trade during the opening few hours of the European day, breakout methods are used.
Due to the greater amount of fluctuations, index trading is very different from spot FX and necessitates a more specialised skill set. Because several brokers utilise a different number of digits after the decimal point, backtesting indices is more complicated than backtesting FX. Various quotes include spot rates, futures prices, expiration dates, and other information.
For instance, the DAX can have many different quote iterations, like 14534.00, 145.34, and 14534.0. Also, because EA operates at a specified time of day (GMT+2 is the default preset), and because broker time might vary from broker to broker, you must modify EA trading time. Check the time and quote from your broker as a result.
A fixed stop loss of around 25 points protects each straightforward transaction that the DAX40 EA opens, and it only executes a maximum of 5 trades each day. Orders are never placed using risky trading strategies like the martingale, layers, grids, or additional average positions, and they are always closed or eliminated by the end of the same day. It incorporates a trailing stop exit that is initiated by "X" number of gain points at the place of exit.
The user-defined lot size is used for every trade. does not employ the technique of increasing lots. (However Dow30 EA users with advanced/experienced EA skills have a recovery function) For experienced EA users, Expert is packed with extra control tools like the option to increase after a loss and use a box stop loss rather than a fixed stop loss. Yet, it is incredibly simple to set up and operate for beginners.
Please test a week in a demo account. Moreover, kindly familiarise yourself with the DOW Forex EA's operation before using it on a real account.
Advice for the DAX Forex EA
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Use desktop browser to Open/Download files
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