This maths-based Pipsovar Expert Advisor trades previous day's range breakouts. In case of reversal, additional limit orders are used. Theoretically, the Expert Advisor can work with any instruments available in MetaTrader both in the "multi" mode (on a single chart) and on a separate chart for each instrument.
It shows great testing results over a year's data (please see screenshots attached). The Expert Advisor is capable of working in automated mode. Since the set of parameters for all instruments in the "multi" mode is similar (distance to limit orders, trailing stop, Take Profit, etc.), it would obviously be reasonable to perform an additional optimization for "exotic" instruments to proceed with a separate set of parameters.
The Pipsovar Expert Advisor employs a number of algorithms that filter false signals. For example, it tracks so-called gaps and does not allow to place orders if a gap exceeds the specified value. Furthermore, new orders will not be placed, if fluctuations over the last 12 hours have exceeded the set value. There are also other preventive algorithms.
If limit orders trigger, Pipsovar will automatically modify their Take Profit so that the amount is always positive at closing.
It is recommended to run optimization at least once every 6 months.
A detailed instruction file is available to buyers upon request (it can be opened with OpenOffice, Word or extended Notepad).
- corner – corner for legend (0,1,2,3).
- filter – filter of false signals (0 - disabled, 1 - enabled).
- lot – lot (a percent sign at the end means that the value is expressed as percent of free margin; no percent sign means a fixed lot value).
- magic – magic number (allows to start a new order cycle).
- martingale – lot doubling (0 - disabled, 1 - enabled).
- max – maximum number of orders in one cycle.
- range – distance between the orders.
- set – set of instruments (each instrument is specified separated by comma, or one instrument).
- slippage – slippage.
- step – step for opening a new order.
- stoploss – Stop Loss.
- takeprofit – Take Profit (0 - by nearest peaks on H4).
- timeleft – time left till forced order closing.
- trail – Trailing Stop.
NB for newbies: Stop testing EAs on vast history periods, you should optimize trading parameters once every 2-3 months as the market fluctuates. You can easily find working parameters for a year, though, for this strategy.