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Forex Wheel EA is a semi-automated MetaTrader 5 expert advisor. You pick up to 20 currency pairs from an on-chart panel, and it applies preset profit and loss thresholds to the trades, with a button to close everything.
Get one message the moment it launches, with its price.
Forex Wheel EA is an expert advisor for MetaTrader 5 that mixes manual control with automated trade handling. Instead of searching for a perfect entry signal, it puts the focus on position size, exit levels and exposure, and lets you build a basket of currency pairs from a panel on the chart.
When the EA is attached to a chart, an interactive panel appears. From it you select the pairs you want to trade, up to 20 at a time if your broker permits. The EA then opens trades on the chosen pairs and attaches profit and loss thresholds built around a reward-to-risk ratio. The author gives 2.5 to 1 as the default. A bonus trade feature and a correlation check are also included, the latter intended to help you avoid loading the basket with pairs that tend to move together.
Because pair selection involves a random element and you take part in the process, this is not a classic fixed-rule system with a repeatable signal. Treat it as a tool that helps you practise sizing, exits and discipline.
The EA is aimed at forex pairs. It is not built around one chart timeframe, so read the manual for how the author expects it to be attached and used. Symbol names and the number of simultaneous positions depend on your broker.
Exact input names and defaults can differ, so confirm them in the Inputs tab and in the manual. The functions described by the author are:
| Control | Purpose |
|---|---|
| Pair selection | Choose 1 to 20 currency pairs for the basket |
| Reward-to-risk ratio | Sets the automatic profit and loss thresholds; default described as 2.5 to 1 |
| Lot size | Starts at 0.01 and is returned there with the reset button |
| Bonus trade | Optional extra trade tied to profitable positions |
| Correlation check | Helps you see overlap between chosen pairs |
| Kill switch | Closes all open trades with one click |
Trading leveraged products carries a high level of risk and you can lose more than you expect. Running several pairs at once multiplies exposure. A reward-to-risk ratio does not remove losses, and past results do not predict future ones. Test on a demo account first and only trade money you can afford to lose.
Check your broker's rules on hedging, maximum open positions and available symbols before using a larger basket.
| Product type | Expert Advisor |
|---|---|
| Platform | MetaTrader 5 (expert advisor) |
| Strategy focus | Signals, Trend |
| Delivery | Download from your account after purchase |
| License key | Not needed |
| Status | Launching soon |
| Category | Expert advisor, hybrid manual and automated |
| Markets | Forex currency pairs, 1 to 20 at a time if the broker allows |
| Timeframes | Not tied to one timeframe; see the manual for guidance |
| Trade style | Multi-pair basket with preset reward-to-risk exits |
| Default ratio | 2.5 to 1 reward to risk, as described by the author |
| Starting lot size | 0.01, reset from the panel after trades close |
| Requirements | MT5 account that permits expert advisors; demo use advised first |
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No. This product is built for MetaTrader 5 only. It will not load on MT4, so check that your broker offers an MT5 account before you buy.
It is designed for live-market use with pair selection and manual involvement, so the strategy tester is not a reliable way to judge it. The sensible way to evaluate it is on a demo account in real time.
No. It is semi-automated. You choose pairs and start trades from the panel, and the EA manages the preset profit and loss levels. If you change or close trades by hand, those preset levels may no longer apply to them and you must manage them yourself.
The author suggests a starting balance of around 400 USD and the smallest lot size when first trading live. Margin needs differ by broker, leverage and number of pairs, so check your own account conditions.
The panel supports between 1 and 20 pairs. Your broker may limit the number of open positions or the symbols available, which can lower that figure.
The author states that buyers receive a PDF manual. Read it before going live, as it covers the panel buttons, reset procedure and recommended usage.
Forex Wheel EA
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