Algo Forex is a trading bot designed exclusively for the Forex market, supporting major currency pairs such as EURUSD, GBPUSD, NZDUSD, and USDJPY. It operates using two independent strategies: one that executes buy-only trades and another that executes sell-only trades. Users can run either strategy individually or both simultaneously.
The bot initiates trades based on price movements relative to the current bar open, opening a market order when the price moves a specified distance set by the user. It then builds a grid by placing additional limit orders spaced according to a configurable grid step value. The bot closes all open positions and cancels pending orders on a side once the total net profit for that side becomes positive.
Algo Forex employs a combined Martingale and Grid trading structure, which includes risk-control mechanisms but is primarily intended for use in proprietary trading firm environments rather than standard CFD broker accounts. It is recommended to test the strategy thoroughly on a demo account before live deployment.