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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

  • 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.

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

  2. 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.