Trade Jet
- Experts
- Ciprian Ghebanoaei
- Version: 2.2
- Updated: 22 October 2024
TRADER JET is a fully automated trading robot, also known as an Expert Advisor (EA), designed to trade exclusively on the GBPJPY currency pair. This EA is ready to use out of the box, with no need for complex parameter configuration. The only setting you need to decide on is the lot size.
Core Functionality
This trading robot is built with an intelligent system that identifies market trends and filters out noise. It then places trades based on the detected trend's direction. The system uses a combination of several standard MT5 indicators to generate its buy and sell signals:
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Commodity Channel Index (CCI)
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MACD Signal
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Standard Deviation
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Moving Average
Performance and Recommendations
TRADER JET was back-tested using one year of historical data on the GBPJPY H1 timeframe from 2022 to 2023. A specific test case was run from January 2022 to June 2023 with a starting capital of $2,000, a 0.10 lot size, and a maximum spread of 30 points. The results of this test are provided in the accompanying screenshot.
To ensure optimal performance, the following recommendations are provided:
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EA Magic Number: The EAMagic number should be set to a unique value for each chart to ensure the EA manages only its own positions.
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Historical Data: You should download and test the historical data for the GBPJPY H1 timeframe to confirm performance.
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VPS: For continuous and reliable operation, it is highly recommended to run the EA on a Virtual Private Server (VPS) or a machine with a stable internet connection.
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Broker: The EA is compatible with any broker.
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Minimum Deposit: A minimum deposit of $1,000 is recommended for a cent account with a 0.1 lot size.
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Maximum Spread: The recommended maximum spread is 30 points.
1. Moving Average (MA)
The Moving Average is a foundational indicator that smooths out price data to help identify the direction of the overall trend. TRADER JET likely uses one or more MAs to:
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Determine the Main Trend: The EA likely uses a longer-term MA (e.g., 50-period or 100-period) to establish whether the GBPJPY pair is in a long-term uptrend (price is consistently above the MA) or a downtrend (price is consistently below the MA). Trades are likely only taken in the direction of this main trend.
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Generate Signals: Shorter-term MAs could be used for crossovers. A bullish crossover, where a short-term MA crosses above a long-term MA, signals a potential buy. A bearish crossover, where a short-term MA crosses below a long-term MA, signals a potential sell.
2. Commodity Channel Index (CCI)
The CCI is a momentum-based oscillator that measures how far the current price is from its moving average. It's used to identify overbought and oversold conditions and potential reversals. TRADER JET likely uses the CCI to:
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Confirm Entry and Exit Points: When the CCI crosses back from an extreme reading (e.g., crossing below +100 from an overbought state), it can signal a potential short entry. Conversely, when it crosses back above a low reading (e.g., crossing above -100 from an oversold state), it can signal a potential long entry. This helps the EA avoid entering trades at the peak or trough of a short-term move.
3. MACD Signal (Moving Average Convergence Divergence)
The MACD is a momentum indicator that shows the relationship between two moving averages of a security's price. The "MACD Signal" refers to a specific line (a moving average of the MACD line itself) that acts as a trigger for buy and sell signals. TRADER JET probably uses the MACD Signal to:
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Confirm Trend Momentum: The MACD histogram, which plots the difference between the MACD line and the signal line, is an excellent measure of momentum. When the MACD line crosses above the signal line, it's a bullish signal, suggesting upward momentum is increasing. When it crosses below, it's a bearish signal, suggesting downward momentum is building. The EA likely uses this crossover to confirm the strength of a potential trend.
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Filter Other Signals: A MACD signal can be used in conjunction with the MA and CCI to ensure all indicators are aligned before a trade is executed. For example, the EA might only place a buy order if the MA indicates an uptrend, the CCI is coming out of an oversold condition, AND the MACD line has crossed above its signal line.
4. Standard Deviation
Standard Deviation is a statistical measure of volatility. In trading, it indicates how dispersed a security's prices are from the average price over a given period. It's often a core component of other indicators, like Bollinger Bands, but can also be used on its own. TRADER JET likely uses Standard Deviation to:
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Measure Market Volatility: The EA can use Standard Deviation to filter out trades during periods of very low volatility (choppy markets), which are prone to false signals. Conversely, a high reading indicates a significant price movement, which may confirm a strong trend and a good trading opportunity.
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Adjust Risk Management: The robot may dynamically adjust its stop-loss and take-profit levels based on the current market volatility. During high-volatility periods, a wider stop-loss might be used to avoid being "stopped out" by normal market fluctuations.
Together, these indicators create a robust system where each one plays a specific, complementary role: the Moving Average identifies the main trend, the CCI and MACD confirm the momentum and timing of entry, and Standard Deviation measures the overall market volatility to filter out bad conditions and manage risk.
