This EA is designed to trade the EURUSD pair on the M15 timeframe.
Optimal results are observed on hedging accounts with a leverage of at least 1:300 (1:500 recommended). Minimal recommended balance is 1000 units of base currency.
Horizon EA uses a custom indicator to detect the trend and a combination of other indicators to enter the market. Exiting the market is done by Stop loss or Take Profit values which are explicitly set for each order, thus keeping your capital safe in case the EA stops for whatever reason (reboot, update, migration to another client, etc.)
The time the EA trades is controlled by a special entry algorithm. The global position size is then managed by the Intellibrake™ system which prevents from excessive equity drawdowns. Both algorithms are primarily designed for hedging accounts which allow for multiple positions taking.
Results of backtesting optimization showed a 10000% growth of capital over the last one year period, with a maximum drawdown < 30% and a profit factor > 2, with a risk per trade of 5%. However, as is always the case, future results may differ from this optimum.
To keep in pace with changing market conditions, Horizon EA will be updated on a regular basis (every 6 months or more often if market conditions require it). It is advised to regularly check this page to see if an update is available.
Input parameters have been purposely limited to the most important ones to keep Horizon EA simple to run even for the novice. Emphasis has been put on risk management.
- Predefined Lot size to trade: volume of each order in lots in case Money management is not used.
- Use Money Management: if set to 'true', will use the ‘Risk per trade’ parameter to determine lot size to trade.
- Risk per trade as percent of current balance: in case Money management is used, will determine the volume of each order as a percent of current account balance.
- Maximum acceptable equity drawdown %: Maximum equity drawdown before Intellibrake system starts reducing positions size.
- Maximum acceptable balance drawdown %: Maximum balance drawdown before closing all orders and exiting the EA. A value of 0 means the service is disabled.
- Profit target: if your equity reaches this value, the EA will close all open positions and exit. It is set in units of base currency. A value of 0 means the service is disabled.
- EA Magic number: the magic number used to identify orders opened by the EA.
The EA has been backtested using random delay in order execution, without showing an important degradation of its performance. It should therefore be relatively immune to slippage.
- Use 1000 USD on a regular account or as little as 100 USD on a cent account.
- You can also get push notifications for updates from your Metaquotes ID if so configured in your profile.
- For example, if you start with a balance of 1000 USD and set your profit target to 2000, the EA will close all orders and exit when your equity reaches 2000 USD.
- Make sure you keep the same magic number in case of upgrading to a newer version of the EA, so the new version can recognize and manage orders opened by the previous one.
New TrendDetector(tm) algorithm constantly analyzes the market for a bullish or a bearish trend and prevents trades on a ranging market.
Stoploss and TakeProfit values are now based on the ATR indicator. This results in a tighter Stoploss than in previous version. You should therefore adapt your "Risk per trade" factor to a recommended maximum of 2.5% instead of 5%.
New SmartUpdate(tm) algorithm checks online for updates to the internal parameters database. Updates will be distributed every time market conditions have significantly evolved, for the EA to always achieve optimized results.