Trend Pullback Trader
Trend Pullback Trader trades in the direction of the trend after a small pullback (declining price in uptrend, rising price in downtrend). It does so by identifying the trend using an MA and then using the RSI and Stochastic oscillators (on a lower timeframe than the MA) to signal shorter term overbought/oversold conditions. The EA has been optimized for EURUSD on M5 chart, other pairs/timeframes need to be optimized.
The EA will not trade every day, it can go several days without making a trade while making 3 - 4 trades on other days. Defaulti trading time is 11:00 - 2:00 GMT daily (Monday - Thursday), trading times can be changed via user input settings.
This EA has been available for free on another website since 2010. It has undergone a few updates attempting to obtain more profit while limiting drawdown. I'm making it available here to get it to a wider audience. A template and setup document (PDF) can be obtained from the other website (Google TrendOSOB); download TrendOSOBv3.tpl and TrendOSOBv3.pdf from the first post on the first page. You'll also need the MTF_Moving_Average.ex4 indicator if using the template.
Real account monitoring: https://www.mql5.com/en/signals/31562
The Strategy Tester (ST) screen shot shows simulated EA performance from January 1st, 2006 - July 31st, 2014 using default settings with the following exceptions:
- 3% Percent Risk (instead of default 1%)
- GMT Offset hours modified to match the HST data being used (instead of 0).
HST for the strategy tester files were created using price data from Alpari, and they have no time gaps (i.e. missing bars). The spread used for the test on a 5-digit broker was 1.5 pips (15 points)