Simple Expert Advisor
a usable, free simple expert advisor by the maker of velvet.
This expert advisor is designed for use with a VPS that has continuous connectivity and trades based on whether or not it detects decisive momentum in a market, and can be configured to trade all open charts in a session or for it to only be attached to one chart with a given set of parameters. That makes it possible for Velvet Sea to trade different symbols with different parameters to suite the needs of the user, because different instruments might have different degrees of leverage and the cost of the spread might be an order of magnitude apart. So it trades based on the behavior and the direction of the market and that makes it possible to allow this product to take the emotions out of trading; set how often and how much it trades by setting the parameters. The frequency of trading events depends on the degree of leverage that is offered by each user's broker, and so the default settings might not be suitable for all investors. However, given due diligence and testing with demo accounts, some users may experience growth in excess of 100%; this should not be expected for most users.
- input int PeriodInBars=6; This is the base averaging period. The advisor will double the length of the base averaging period and check the averages obtained in that sequence for order, either increasing or decreasing, to detect decisive momentum that will trigger trading activity in the user's account. The averaging period is listed in "bars" so this also depends on the time frame of the chart being displayed in the session
- input int PeriodsToCheck=4; This is the number of times the algorithm will double the duration of the averaging period to determine if the averages are in increasing or decreasing order as the averaging period is doubled.
- input int PeriodTimer=60; This is the amount of time that the algorithm allows to elapse between attempting to detect decisive momentum that will trigger trading activity in the user's account. This parameter is in units of minutes, so 60 seconds = 1 minute, 300 = 5 minutes.
- input double InputVolume=0.01; This is the size of the trade that will be placed by the algorithm if it is able to detect decisive momentum. 0.01 corresponds with the default lot size for forex trading with EagleFX.
- input bool ChartLocked=true; This is the flag that determines if the expert advisor's parameters will be applied to all charts in the session or only the chart that it was applied to. The default value is true and that corresponds with the notion that all symbols are different and any two different symbols may have significantly different levels of leverage that would make one set of uniform parameters inappropriate to use for both.
- input bool RiskAverse=false; This is the flag that determines whether the algorithm will trade against momentum or with momentum. Risk Aversion can be observed better by correlating the data provided by the Bifurcated Averages Analyzer and the direction of price action. If prices and the Bifurcated Average move together this is a risk averse market, otherwise the market is in a continuation posture.
- input bool ClearWeekly=false; This flag determines if the the advisor should run a routine to close all positions once a week. It is currently set to execute this command at the beginning of the week. (Sunday evening in the U.S., Monday morning for Asia-Pacific Coast) A delay was programmed in to keep the session from crashing, so it closes just under a hundred positions a minute, which could take a long time to clear out if the volume of trade is sufficiently high.
A WORD ABOUT APPROPRIATE PACE V. INAPPROPRIATE PACE
It is critically important not to overleverage your trading account, because if you do, in most cases you likely lose close to your entire balance if you use too much leverage. This advisor will not stop you from entering a pace and volume of trading activity that is inappropriate and the individual investor must calculate out what their margin requirements will be and their ideal degree of leverage to be certain that they do not run into a liquidation condition.
TRADE FRIENDLY. DON'T GET LIQUIDATED.