AI Forex Trading – ChatGPT EA FREE Download

AI Forex Trading – ChatGPT EA FREE Download

AI ChatGPT EA is an AI Forex Trading EA that has four years of live track record with a low drawdown. This EA claims to combine the principles of grid trading with the high-tech capabilities of Artificial Intelligence (AI), Deep Learning algorithms, and Artificial Neural Networks (ANN). But is this a groundbreaking revolution in trading, or is it just another buzzword-filled marketing gimmick?

What is ChatGPT EA?

ChatGPT EA touts itself as a state-of-the-art grid trading system boasting an array of impressive features:

  • Deep Learning Algorithms: Using Trend, Momentum, and Volatility filters based on Deep Learning can potentially provide more accurate trade predictions.
  • AI Forecasts: It claims to filter out low-potential trades using AI predictions, offering traders better prospects.
  • News and Market Crash Filters: These advanced filters could help avoid volatile market conditions.
  • One Chart Setup: Simplifying the user interface it allows users to trade multiple symbols from a single chart.
  • Customization: A myriad of filter and option customizations provides traders with flexibility.
  • GMT Adjustment: Automatic adjustment based on global time zones.
  • Diagnostic System: An integrated statistic panel helps users understand the system’s performance and AI Forecast indications.

And lastly, the integration of ChatGPT and Bard for market forecasting is a noteworthy inclusion.

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ChatGPT and Bard in Forex Trading

ChatGPT, developed by OpenAI, is a well-known AI model with expansive capabilities. It has garnered attention in multiple sectors for its conversational abilities, information processing, and more. Its integration into ChatGPT EA suggests that users can get a forecast from the AI, potentially giving traders an edge in predicting market movements.

However, there’s a cautionary note to consider here. While ChatGPT is incredibly powerful, its main strength lies in understanding and generating human-like text. Using it for market prediction would require extensive and specialized training on financial data. Additionally, Bard, while being a recognized name, would similarly need specialized training for precise market forecasting.

Evaluating the AI Forex Trading Claims

Many products in the trading sector label themselves with “AI” for its allure, often without the backing of genuine AI technology in AI Forex Trading. However, the incorporation of ChatGPT and Bard in Perceptrader AI does give it a semblance of credibility.

That said, traders should approach with caution:

  1. Expertise Required: Deep Learning and Artificial Neural Networks (ANN) demand substantial computational power and expertise in data science.
  2. Market Volatility: No system, AI-powered or not, can guarantee protection against market unpredictability.
  3. Due Diligence: It’s always wise for traders to do their research and understand the underlying technology before fully trusting any system.

Please test in a demo account first for at least a week. Also, please Make yourself familiar and understand how this AI Forex Trading Robot works, then only use it in a real account.

Recommendations for this ChatGPT EA

  • Minimum Account Balance of 1000$.
  • AUDCAD is recommended, and If your broker uses a suffix (e.g. AUDCAD.a), you should update names in the Symbol parameter.
  • This EA is one chart setup, so it’s only needed to attach on one pair. It will trade on all pairs described on the input parameter.
  • Work Only on M5.
  • MT4 cannot perform multi-currency backtests, So when you backtest this EA, you only get the result of the pair you tested.
  • The EA is NOT sensitive to spread and slippage. But We advise using a good ECN broker (Find the Perfect Broker For You Here)
Input Parameters
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MM and Risk settings

  • Check for Instances of the EA – checks that only one instance of the ChatGPT EA is running at a time. If EA detects other instances with the same UID, trading will be disabled.
  • Allow Opening a new Initial Trade? – on/off opening of new grids. It does not affect the already open grids.
  • Allow Manual Trading Buttons – enable/disable manual trading buttons that allow you to open an initial trade manually: the EA will pick up the manually opened trade and manage it as usual. The buttons are affected by the following parameters: Symbols, Maximum Spread, and Maximum Symbols at a time.
  • Lot-sizing Method – select the lot sizing method according to the risk you want to take: Fixed Lots will use fixed lot size from the “Fixed lot” parameter, Dynamic Lots will use the ‘Dynamic Lot’ parameter, Deposit load will calculate lots based on deposit load%, and four predefined presets will calculate risk automatically for you.
  • Fixed Lot – fixed trading lot for the initial trade.
  • Dynamic Lot (Balance/Equity based) – balance/equity to be used per 0.01 lot.
  • Deposit Load % – % of the deposit that will be used to open the initial trade.
  • Fixed Initial Deposit? (Tester only) – lot size will be calculated based on the initial deposit; new profits will not be considered.
  • Rounding Method – allows you to choose the method of rounding fractional lots to calculate trading lot sizes.
  • Max Lot per Order – the maximum size of a single order.
  • Auto Split? – option allowing the AI Forex Trading EA to trade with any lot size/volume without limits. Most brokers have a limit of 100 lots per order, so if the option is enabled, the EA will automatically split a large trading volume (e.g., 10000 lots) into multiple smaller orders (not more than 100 lots per child order). It is intended to be used by the tester to allow testing of the EA on all the available history.
  • Maximum Spread, in pips – maximally allowed spread.
  • Maximum Slippage for a non-ECN acc, in pips – max allowed slippage for a non-ECN account.
  • Maximum Symbols at a time – Maximum allowed number of symbols that can be opened simultaneously.
  • Only One Symbol if Grid reaches this Level [0-disabled] – This option allows you to temporarily reduce the “Maximum Symbols at a Time” to one if an open grid reaches the specified level.
  • Disable Trades on the Same Side of a Currency – this option disables the opening of new initial trades on the same side of a currency. For example, it can help prevent having two shorts for CAD simultaneously to protect accounts from a strong trend for the CAD currency.
  • Allow Hedging? – allow opening multi-directional trades on the same symbol.
  • Allow Trading on Holidays? – on/off Christmas/New Year trading filter.
  • Allow to Buy/Sell – on/off Buy/Sell trades.
  • Minimum Free Margin % [0-disabled] – if Free Margin% falls below the specified value, the EA will not place new pending orders or cancel already placed ones.
  • Max Open Lots (Filter) – the EA will not send new initial orders if the volume of all positions opened by the EA exceeds the specified value.
  • Max Floating Drawdown % – if the current floating drawdown exceeds the specified %, the ChatGPT EA will close open positions.
  • Max Floating Drawdown in Money [0-disabled] – if the current floating drawdown exceeds the specified value in money, the EA will close open positions.
  • Max Daily Drawdown Limit % FTMO Rules – maximum daily drawdown limit, calculated according to the FTMO rules. Non-trading operations (like withdrawals) during the day are not considered.
  • Max Daily Drawdown Limit in Money FTMO Rules [0-disabled] – maximum daily drawdown limit in MONEY, calculated according to the FTMO rules. Non-trading operations (like withdrawals) during the day are not considered.
  • Max Daily Drawdown Reset Hour FTMO Rules (Broker time) – hour to reset the max. Drawdown with the prop firm.
  • Max Drawdown Action – allows you to specify actions to be taken after the max. Drawdown is reached (in money or %):
    • ‘Close trades & stop trading for 24h’ – the EA will close all open trades/grids and not open new ones for 24 hours.
    • ‘Close trades & stop trading until the end of the day’ – the EA will close all open trades/grids and will not open new ones until the end of the day.
    • ‘Close trades & stop trading until restart’ – the EA will close all open trades/grids and not open new ones until the EA/MT restarts.
    • ‘Close trades & resume trading as normal’ – the EA will close all open trades/grids and resume trading as normal.
    • ‘Prohibit opening new trades’ – new grids will be prohibited as long as the floating drawdown is above a specified value;
    • ‘Prohibit opening new trades until restart’ – new grids will be prohibited until the EA/MT restarts.
  • Max Drawdown Calculation – allows you to specify how the maximum drawdown is calculated:
    • ‘The account’ – takes into account all positions opened on the account, including trades opened manually or by other EAs;
    • ‘This strategy’ – takes into account only positions opened by this EA.
  • Handle Max Drawdown Events on Every Tick – enable/disable drawdown event handling on every tick (instead of once a minute used by default, it may consume more CPU resources).
  • Check Margin for all Grid Levels – if true, the EA will check if there is enough free margin to open all grid levels simultaneously. If not enough, the initial lot size will be reduced.
  • Check Bars for Errors – if true, the Forex Trading Robot will check the relevance of historical data and bar opening time. Turn it off if your broker uses non-standard bar opening time (for example, hh:02, hh:17, hh:32, hh:47).
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Time settings

  • Hour to Start Trading – hour to start trading (for initial orders only).
  • Minutes to Start Trading – minutes to start trading (for initial orders only).
  • Hour to Stop Trading – hour to stop trading (for initial orders only).
  • Minutes to Stop Trading – minutes to stop trading (for initial orders only).
  • Trade on Monday – enable/disable trading on Monday.
  • Trade on Tuesday – enable/disable trading on Tuesday.
  • Trade on Wednesday – enable/disable trading on Wednesday.
  • Trade on Thursday – enable/disable trading on Thursday.
  • Trade on Friday – enable/disable trading on Friday.
  • Rollover Start Hour – rollover start hour.
  • Rollover Start Minutes – rollover start minutes.
  • Rollover End Hour – rollover end hour.
  • Rollover End Minutes – rollover end minutes.
  • Send Orders During Rollover – enable/disable sending orders (including grid trades) during rollover time.
  • Remove TakeProfit During Rollover – removes TP for all orders at the specified rollover time. This option helps to avoid closing trades via TP during bad trading conditions since slippage can turn a profitable trade into a losing one.

Strategy settings

  • Symbols separated by comma (custom if empty) – trading symbols separated by comma (custom if empty).
  • Symbol Suffix – here, you can specify a symbol suffix if your broker uses one.
  • Custom Symbol Multipliers separated by comma (e.g., 0.9,1.2,1) – here, you can set multipliers to calculate trading lots for each pair, for example, 1.0,0.7,0.9. This means that the first pair (specified in the ‘Symbols separated by comma’ parameter) will be open usually, but the second and third will have smaller lots, multipliers 0.7x and 0.9x.
  • Percentage Pips Mode – enable/disable percentage pips mode. 1 percentage pip = 0.0001 * Current Price.
  • Trading Setup – trading mode:
    • ‘Standard trades’ – normal trading based on a well-defined set of rules.
    • ‘Unique trades’ – trading will be unique for each ChatGPT EA instance, including the time and direction.
  • Trading Frequency [1..10max] (Unique trades only) – frequency of trades in the ‘Unique trades’ mode.
  • Daily ATR Period – period of the daily ATR indicator for volatility calculation.

Forecasts settings (Live trading only)

  • Use ChatGPT Forecast – enable/disable filtering of trades using ChatGPT forecasts.
  • Use Bard Forecast – enable/disable filtering of trades using Google Bard.

Machine Learning Setup

  • Enable Neural Network Filter – enable/disable filtering of trades using machine learning technology based on Perceptron.
  • Min Probability of Profit % – the minimal predicted probability that a trade will result in profit. If Perceptron predicts a lower value, the trading signal will be ignored, and the INITIAL trade will be skipped.

TakeProfit settings

  • TakeProfit for Initial Trade, in pips – take profit for the initial trade (if no grid trades opened).
  • Weighted TakeProfit? – if true, Grid TP is weighted by volume, so TP in pips decreases in proportion to the open volume of the grid levels. This allows keeping the initial TP in money unchanged after adding new averaging trades.
  • TakeProfit for Grid, pips (can also be 0/negat. for emergency) – take-profit for the grid (if at least one averaging trade is open). It allows any value, including zero and negative.
  • Break Even (TP) after this Level [0-disabled] – break-even feature after the specified Grid level is reached.
  • Hide TakeProfit? – on/off take-profit hiding.
  • Do not adjust TP unless a new grid level is opened – if true, the EA will adjust the TP of open positions only when a new grid level is opened. Users can manually set their own TP, staying current until the ChatGPT EA opens a new grid level.

StopLoss settings

  • StopLoss for Grid, in pips (500pips if zero) – stop-loss for the initial/grid trades.
  • Hide StopLoss? – on/off stop-loss hiding.
  • Trailing SL Size, in pips [0-disabled] – trailing stop based on the grid breakeven point (=weighted average entry price of all orders including SWAPs and commissions).
  • Trailing SL Start, in pips – number of pips in profit at which the trailing SL is activated.
  • Randomize Order/TP Levels – if enabled, the AI Forex Trading ea will randomly slightly change the TP/SL levels. This option allows you to have a unique TP/SL.
  • Max Random Delay before sending Orders, sec [0-disabled] – maximum random delay in seconds before sending an order. Values over 15 seconds are not recommended.
  • Allow sending SL along with an order (for a non-ECN acc.) – if true, then the EA will send SL along with orders. If false, SL will be set after the order is sent and executed.

Grid settings

  • Trade Distance – min. Step in pips between grid(averaging) trades.
  • Pause Between Grid Trades, in min [0-disabled] – a minimum pause between grid trades in minutes.
  • Smart Distance? – auto-adjusts the trade distance depending on market volatility.
  • Maximum Trades – max number of grid(averaging) trades.
  • Custom Multipliers sep. by comma (e.g., 1,2,4,8,14,24,41,69) – custom multipliers for each GRID step separated by a comma, for example – 1,2,4,8,14,24,41,69.
  • Grid Level to Start (1-initial trade) – allows you to skip several grid levels. Trading will start from the specified level. To calculate entries correctly, the EA opens “marker” orders at skipped levels with a minimum lot size.
  • Keep Original Profit Level & Lot Size – when skipping the grid level, the ChatGPT EA will keep the profit target and lot sizes from the original strategy. This can help boost performance.

News Filter settings

  • News Filter Enabled – on/off News Filter.
  • Disable Trading on Bank Holidays – enable/disable trading on bank holidays according to the real-time Economic Calendar. This filter is currency-specific. For example, with it, AI Forex Trading EA won’t take trades on USD pairs during bank holidays in the USA. It also works in Strategy Tester.
  • Disable Built-in News Filter Settings – disables the built-in news filter settings, allowing you to fine-tune the news filter.
  • Custom Events (separated by a comma, disabled if empty) – custom rules allowing you to fine-tune the news filter.
  • Medium Impact News – enable/disable news events with medium impact (2-star news).
  • Low Impact News – enable/disable news events with low impact (1 star news).
  • Speaks – if false, the EA will not consider news events marked as Speeches/Speaks.
  • Wait Minutes Before Event – suspend trading before the news.
  • Wait Minutes After Event – suspend trading after the news.
  • Show News List – displays a list of upcoming news events to the right of the info panel.
  • News List Refresh Rate – news events list update frequency (selection from the drop-down list).

Stock Market Crash Filter settings

  • Stock Market Crash Filter Enabled – enable/disable the stock market crash filter.
  • Stock Market Symbol – symbol name of the S&P500 stock index of your broker. It is usually called something like US500 or SPX500 (press Ctrl+U to see all symbols).
  • Filter Period – period of the stock market crash filter.
  • Max Historical Volatility (HV), in % – max. annualized standard deviation of H1 returns (HV in %).
  • Block Trading for the Entire Day – prohibits opening new trades throughout the day if HV hits the specified level just once at any moment.

Additional settings

  • Trade Comment – comment for orders.
  • UID (0…9) – unique ChatGPT EA instance number. Usually, no need to change it.
  • Show Panel – on/off Info panel.
  • Show Stats – show a panel with statistics.
  • Font Size (1…8) – reduce this value if you’re having trouble with the info panel.

Backtest settings

  • Disable Automatic GMT Detection – set it to ‘true’ to disable automatic GMT detection. You can use the GMT Test/Manual’ and ‘DST Test/Manual parameters to set the GMT manually offset in live trading.
  • GMT Test/Manual – GMT offset in winter in Tester.
  • DST Test/Manual – DST in Tester.

Conclusion

The ChatGPT EA, with its integration of ChatGPT and Bard, certainly piques the interest of the trading community. While the features are impressive on paper, users should be prudent and understand the capabilities and limitations of AI in trading. After all, in the volatile world of trading, it’s always better to be safe than sorry.

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