Rhino Forex is a very complicated Expert Advisor. It uses many standard MetaTrader 4 indicators (like moving averages and envelopes) to determine the position entry and exit points as well as position parameters. This EA has many input parameters and internally stored data sets for each of the five currency pairs it can be used to trade with. The abundance of the indicators and conditional checks make Rhino EA a little slower for CPU to process.
Warning! The latest backtest of this EA on the period from 2006-11-20 through 2014-01-24 has shown a complete account well done.
Do run this EA on a live account carefully and patiently! You can use the product for educational purpose. The backtest results presented below are outdated.
My test of the EA resulted in about $6,400 profit using GBPUSD pair on M15 timeframe using one standard lot to open positions. Testing was done over a one-year period, with maximum drawdown as little as $96. I have also checked it on a three-year period and it showed the same performance.
- Lots: Number of transactions
- MaximumRisk: Risk factors, the best use of the default value
What are the stop loss and take profit used by this EA?
It uses the variable stop loss and take profit values, but the average winning and losing position yield 138 and 148 pips on average respectively.
How often does it trade?
On GBPUSD M15 (the optimum settings), the EA trades once a day on average.