Edgeweasel Pro
- Experts
- Edgellence
- Version: 1.16
- Updated: 10 April 2024
Multi-Asset, Multi-Strategy and Multi-Language: Edgeweasel Pro is a multi-asset tool capable of scanning up to 20 instruments simultaneously, including major currency pairs, indices, and commodities. The advisor also incorporates multi-strategy capabilities with tailored strategies for Forex, Indices, and Commodities. These strategies aim to capitalize on price corrections following extreme movements. To cater to our global user base, the advisor supports multiple languages, including English, Russian, Chinese, Spanish, Portuguese (Brazil) and German*. It features a built-in loss recovery mechanism, strategically increasing lot size under favorable conditions without resorting to grid or Martingale strategies. Through extensive testing, we've found that a simple 1:x risk-to-return ratio consistently yields the best results.
Calibration: Developing a strategy with numerous parameters can lead to overfitting, especially when optimizing to fit historical data. To mitigate this, we've minimized the number of parameters in our expert advisor. The three main adjustable parameters per strategy are Risk-percentage, Risk-Return ratio, and Market Reference Hour. Additional settings are considered static to prevent overfitting. These settings can be modified via an external file**, which overrides the defaults but are not available for optimization in the strategy tester***. This approach safeguards against overfitting and the subsequent disappointments in live trading. Our expert advisor functions exclusively on a daily timeframe. In Forex, the 24-hour market cycle suggests that midnight might not be the optimal time to assess the past day's data. Therefore, we introduced the 'Market Reference Hour' parameter, and after extensive testing, we determined that approximately 9:00 AM GMT is the most effective time for identifying valid setups, aligning with market opening hours.
Support and Assistance: My team and I are committed to delivering exceptional service and are always ready to promptly address any queries or challenges you may encounter. Our goal is to ensure a seamless experience and provide reliable support whenever needed.
Example settings, without excessive optimization:| Test period | 2019/01/01 - 2023/12/31 | |||
|---|---|---|---|---|
| Description | Parameter name | Forex | Indices | Commodities |
| Alias | Alias | Sample Forex | Sample Indices | Sample Commodities |
| Configuration | Configuration | My test | My test | My test |
| Auto lot | RiskAdjustedPositionSize | true | true | true |
| Lot size | LotSize | 0.2 | 0.2 | 0.2 |
| Risk percentage | RiskPercentage | 0.5 | 0.5 | 0.5 |
| Strategy | Strategy | Forex | Indices | Commodities |
| Reference market hour | BarCloseHour | 9 | 9 | 9 |
| Instruments (,) | Instruments | EURUSD,GBPUSD,EURGBP,USDJPY, USDCAD | US30,US500,AUS200 | COPPER,ZINC,NICKEL |
| Risk return ratio (1:N) | RiskReturnRatio | 1.5 | 1.4 | 1.4 |
| RSI adjustment (0-100) | RSIAdjustment | 0 | 0 | 0 |
| Exit after X days | CloseAfterDays | 30 | 30 | 30 |
| Exit profit or loss | OldOrdersLossProfit | ProfitAndLoss | ProfitAndLoss | ProfitAndLoss |
| Exit after X days | CloseAfterDays | 30 | 30 | 30 |
| Exit at weak momentum | ExitSecondOppositeBar | true | true | true |
| Override file | OverrideFile | forex-override.ini | indices-override.ini | commodities-override.ini |
| Forecast file | ForecastFile | forecast.ini | forecast.ini | forecast.ini |
Please note: Edgeweasel Pro is designed for long-term, low-risk, steady growth, and trades depending on the number of assets you are tracking, typically once or twice a week.
* Other language packages are available upon request.
** If you're unable to directly access the file system of your VPS, our VPSToolkit is available free of charge to move the files to the appropriate location for you.
*** If you're looking to adjust default settings via an external file, note that MQL5 Market products can't automatically apply these to the Strategy Tester. Our team is here to help you find a secure, effective solution.
keywords: forex, CFD, short term trading strategies, RSI, overbought, oversold, Larry Connors, mean reversion, counter trade, risk management, prop firm
This EA is promising and i was happy with this in demo account. I just installed this to live account. Also the customer support is top notch.