Let’s start from the basics
What is Cypher? The Cypher trading strategy is a harmonic pattern-based approach used by traders to identify potential reversal points in the financial markets. If you are not familiar with this trading strategy - read my blog post where I explain all details.
What is Trade Cypher robot? With its powerful automation capabilities, Trade Cypher Bot executes and manages Cypher harmonic pattern trades with precision, saving you valuable time and allowing you to focus on making well-informed and profitable decisions.
How to download Trade Cypher bot?
To download the program from the market, you must first enter your MQL5 account information into the MetaTrader platform. Open the MetaTrader 5 platform, select Tools - Options - Community tab from the top menu, and then fill up the MQL5 account username and password fields on the Community tab.
Open the My purchases panel in the Navigator. Click install or update if a fresh update has been developed on this tab, next to the application.
The program will be saved in the folder Expert Advisors - Market.
Installing the application on the chart
Select "Attach to Graph" from the menu that appears when you right-click on the application.
The application properties window will then open, where you may enable "Algorithmic trading" to give the advisor access to starting trades and other trading activities. Click OK.
Enable Algorithmic trading on the top toolbar; this button enables or disables the ability to trade for all Expert Advisors.
How to select your first Cypher and enter the trade?
- Identify Cypher on your chart. If you are not familliar with this strategy here's a quick guide where you can learn how to identify Cyphers
- Press "Select new Cypher" button
- Pay attention to status bar which is located at the bottom of the main window. Here application will guide you step by step what to do in order to select Cypher. Also if any candle that you choose will not follow the strategy rules - robot will write about it in status bar.
- Click on each candle that represents Cypher pattern points in order X-A-B-C
- Press "Enter Cypher Trade" button
- All set. Robot will do the rest of work for you.
