This EA is based on the "Forex Gladiator" strategy which was available for free download from the author a couple of months ago.
Here's the basic strategy, it's a counter-trend system:
Close must be above both the long term and short term SMA's.
Close must drop down within n-points ("EntryZone") of the short SMA.
Default is 20. This means the close must be no higher than 20 points above the short SMA.
Stochastic must have been below 20 and crosses up over it.
Exit with a trailing stop or when price drops below short SMA.
Rules are reverse for sell; Stoch must have been over 80 and cross below it.
Current EA settings produced the results attached.
I have not experimented a great deal with this.
Original system calls for 200 SMA on 1 hour bars and 200 SMA on 10 minute bars. I changed this to simply 2 different SMAs for more flexiblilty.
Backtest results are on Euro daily bars from Sept. 1990 to Dec. 2006.
Profit factor 1.78.
All improvements welcome.
This one looks interesting... I will try it with some mirco mini's and report in a few weeks, thanks...
Again please note the EQ curve is for daily bars..
this could be a psychologically difficult system to trade as it creates a long series of small losses followed by short upward thrusts.
You would need to forward test this for a long period without getting discouraged.
Here's some food for thought...
The most successful EAs I have are the ones I've made. They are all very profitable in backtesting, I am forward testing now. I try to backtest over at least a 10 year period. They are quite "crude".
I am not sharing them at this point.
However, I will give you some hints....
They are contrarian strategies, they buy when the market is dropping, vice-versa.
They do not use any indicators whatsoever. THINK SIMPLE. THEN THINK SIMPLER.
Just a stop loss and and a take profit. short time frames, no pyramiding.
I know virtually nothing about programming, but since my ideas are simple I can use the online EA builder: <Deleted>
Give your own ideas a try, you do not need a lot of sophisticated indicators.
my advise would be to demo test and trade live on small accounts.
You can find .10 ct pip stuff and even micro. If you come in and get big right away, you may close stuff that will turn out to be a winner. If you cant stomache the loss, then your in the wrong arena.I don't agree with WNW on strategy. I am very much the opposite but, money talks and bs walks. You have to learn on your own to modify these eas.
I know virtually nothing about programming, but since my ideas are simple I can use the online EA builder:<Deleted>
Are you aware of the ever-lasting problems with back-testing processes? I've coded tens of EA's and noticed one BIG problem. When you run the test, often you see some results which aren't that interesting. Then you modify some of your input factors to "optimise" them; and here's the problem. Your EA works great, BUT only for that period. Your input factors are NOT a bit optimised for the future. Even if you see some favourable results in the forward testing process, I assure you it's been accidental. Sooner or later, you're gonna go into a looooooong loooooooong streak of losses.
Ask him for some updated results for the elapsed eleven years period.