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Forex Diamond EA is an MT4 expert advisor that combines a trend-retrace signal system, a countertrend system and a countertrend scalping system. It is built for M15 charts on major currency pairs and includes drawdown protection and trade randomization options.
Get one message the moment it launches, with its price.
Forex Diamond EA is an automated trading program for MetaTrader 4. It runs three separate trading approaches inside one expert advisor: a trend-retrace signal system, a countertrend system and a countertrend scalping system. It is built mainly for the M15 chart on major currency pairs.
The EA opens and manages trades on its own once it is attached to a chart. Each of its three components looks at the market in a different way.
This part looks for the direction of the prevailing trend and waits for a pullback before entering, so trades follow the larger move rather than chase it.
This part watches for possible reversals and trades against the recent move when its conditions are met. Its trading parameters are adjusted dynamically to current conditions.
This part aims for smaller, quicker trades, so spread and execution quality matter most here. The EA includes spread and slippage filters to avoid entering when costs are unusually high.
Stop loss and take profit levels are calculated dynamically rather than set as fixed distances. Other built-in tools include a profit protection feature, drawdown protection, a randomization option that slightly varies execution, and time management.
The author says the default values are intended for all supported pairs, so most users begin with them. The inputs below are the ones described in the product information. Check the full list in the EA's input tab, since this page does not cover every parameter.
| Parameter | Purpose |
|---|---|
| LongTrades | Turns buy trades on or off. |
| ShortTrades | Turns sell trades on or off. |
| AutoGMT_Offset | Detects the broker's GMT offset automatically. Set it to false only if you want to enter the offset by hand in live trading. |
| ManualGMT_Offset | The broker's winter GMT offset, used when automatic detection is off and when backtesting. A wrong value can give unexpected results. |
| DST_Usage | Tells the EA how to handle daylight saving time in the broker's server time. Read the input description in the terminal before changing it. |
Lot size, drawdown limits and randomization inputs also exist. Check their exact names and defaults in your copy rather than relying on a figure from this page.
Trading leveraged products carries a high level of risk, and past results do not predict future ones. Test on a demo account first, size positions to a loss you can accept, and confirm that automated trading is allowed by your broker or prop firm.
Drawdown protection can limit losses but cannot remove them. Countertrend and scalping methods can lose several trades in a row, and wide spreads or slippage can change results.
For continuous operation, many users run MT4 on a VPS so the terminal stays connected.
| Product type | Expert Advisor |
|---|---|
| Platform | MetaTrader 4 |
| Strategy focus | Signals, Trend, Support and resistance |
| Delivery | Download from your account after purchase |
| License key | Not needed |
| Status | Launching soon |
| Category | Expert advisor (automated trading) |
| Strategy | Trend-retrace signals, countertrend and countertrend scalping |
| Suggested timeframe | M15 |
| Suggested pairs | GBPUSD, EURUSD, USDCHF, USDJPY |
| Stops and targets | Calculated dynamically by the EA |
| Requirements | MT4 terminal, algo trading enabled, stable connection or VPS |
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No. This listing is the MT4 build and it will not load in MetaTrader 5. The author has said a separate MT5 edition exists, so check that you are buying the build that matches your terminal.
The author recommends the M15 chart on GBPUSD, EURUSD, USDCHF and USDJPY. Run one chart per pair, and check your broker's symbol names, since some add suffixes.
The author states the defaults are intended for all supported pairs, so most users start with them. The setting that most often needs attention is the broker GMT offset and daylight saving handling, especially for backtests. Check your broker's server time before running the EA.
The EA has drawdown protection and a randomization option that are aimed at such accounts. Whether it is allowed depends on the firm, so read its rules on automated trading and test on a demo account first.
For a quick check, use M1 data with open prices. For better modeling quality, use M15 with every tick and good historical data. Backtests do not predict live results.
In MT4, choose File, then Open Data Folder, and place the EA file in MQL4/Experts. Restart MT4 or refresh the Navigator, drag the EA onto an M15 chart and enable algo trading.
Forex Diamond EA
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