The SIXTH SENSE is a fairly stable trading robot, that was designed for use on the GBPUSD currency pair. This Expert Advisor is based on the famous Ilan. The version 1.4 is used as the basis, which applies averaging (non-martingale) as the money management.
The standard values of the EA parameters are valid for the following trading conditions:
- Currency pair: GBPUSD
- Time frame: M30
- Account deposit: 10000 USD
- Minimum lot: 0.01
- Spread: 3
Unfortunately, the limit on maximum description size does not allow to describe every item of the EA settings, therefore, a brief description will be provided.
The main developments added to the EA
- Market entry condition: result of closing of two previous candles + Moving Average indicator;
- Condition for opening additional orders in the series to eliminate deliberately unprofitable trades, based on the MACD indicator;
- Function of Smart lot size increase for additional orders depending on the behavior of the price action;
- Function of emergency exit from the market in case the trend of the higher timeframes changes, based on their length and the Bulls indicator;
- Function for exiting the market at the specified account drawdown;
- Function for moving long orders to breakeven;
- Visual monitor of trading status.
The Expert Advisor features
- Designed specifically for the GBPUSD currency pair, M30 timeframe. Not tested on other pairs, shows worse results on other timeframes.
- The average position holding time is from 1 day to 1 week, which makes the EA insusceptible to short-term loss of connection to the broker.
- Orders are opened only at the occurrence of a new candle of the selected timeframe, and in case of a failure - when the next ticks arrive. Therefore, the EA is not sensitive to the broker delays, does not require high speed of command processing. This also enables to optimize it in the strategy tester using crude methods.
- The initial order is opened based on:
- closing results of the two previous candles;
- values of the two Moving Averages.
- The size of the starting lot equals Lots (fixed starting lot) or Lots multiplied by the account balance changing ratio as the result of trading (starting lot is proportional to the account balance).
- Additional trades in the series are opened dynamically when the set of conditions is met:
- all currently opened trades are unprofitable;
- the last opened trade is at the distance of at least PipStep points;
- no additional orders have been opened on the current candle of the selected timeframe;
- additionally, when selecting the PipsCheck: based on the MACD indicator.
- The volume of the additional trades is calculated based on the LotExponent, and if the PipsCheck option is selected, additionally calculated based on the MACD indicator and the price movement rate.
- Take profit is placed at the distance of TakeProfit points from the mean square of all the currently opened trades, and is recalculated every time a new trade is opened in the series.
- Closing profitable trades (trade series) is performed only by take profit.
- Closing unprofitable trades (trade series) is performed based on drawdown or change of the trend on the higher timeframes.
- Closing at zero (when possible) happens when open trades time out.