ForexSmartBot

Automated forex trading bot written in Python. It trades currency pairs such as EURUSD, USDJPY and more, using a simple moving average crossover strategy. The bot adjusts trade amounts dynamically between a specific range based on recent trading performance, aiming to optimize the investment per operation.

Table of Contents

• Features
• Prerequisites
• Installation
• Usage
• How It Works
• Customization and Improvement
• Disclaimer
• License
• Contact
• Contribution

Features

• Multiple Currency Pairs: Trades on stable pairs like EURUSD and USDJPY.
• Moving Average Crossover Strategy: Utilizes 10-period and 20-period simple moving averages to generate buy/sell signals.
• Dynamic Trade Amounts: Automatically adjusts the trade amount between $10 and $100 based on recent profits or losses.
• MetaTrader 5 Integration: Connects to MT5 via its Python API for live trading.
• Educational Purpose: Designed to help users understand automated trading systems and how to improve them.

Prerequisites

• Python 3.x installed on your system.
• MetaTrader 5 platform installed.
• A demo or live trading account with a broker that supports MT5.
• Required Python packages: Install using pip install -r requirements.txt.

Installation

1. Clone the Repository:

   git clone https://github.com/CryptoJoma/ForexSmartBot.git
   cd ForexSmartBot

2. Install Dependencies:

   pip install -r requirements.txt
   

Usage

1. Configure Account Details:

• Open forex_bot.py in a text editor.
• Replace account_number, password, and server with your MT5 account credentials.

2. Select Currency Pairs: -Modify the symbols list in the run_bot() function to include other stable currency pairs if desired.

3. Run the Bot:

   python forex_bot.py
   

How It Works

• Initialization: Connects to MT5 and logs into your trading account.
• Data Retrieval: Fetches recent price data for selected currency pairs.
• Signal Generation: Calculates moving averages to generate buy/sell/hold signals.
• Dynamic Amount Adjustment: Adjusts trade amounts between $10 and $100 based on recent performance.
• Order Execution: Places market orders based on generated signals.
• Continuous Operation: Runs in a loop, updating every 5 minutes.

Customization and Improvement

• Strategy Enhancement: Implement more sophisticated trading strategies or indicators.
• Risk Management: Add stop-loss and take-profit levels, or position sizing based on volatility.
• Error Handling: Improve logging and error handling for robustness.
• Backtesting: Use historical data to test and refine strategies before live trading.

Disclaimer

• Financial Risk: Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. Use it responsibly and at your own risk.
• Educational Purpose: This bot is provided for educational purposes and does not constitute financial advice.
• No Warranty: The software is provided "as is", without warranty of any kind.

License

This code is provided under the Apache 2.0 License

Contact

For any questions or support, please contact coffee@joma.dev

Contribution

Feel free to fork this repository and submit pull requests. For major changes, please open an issue first to discuss what you would like to change.