Project Gryphon is a fully automatic trading expert for the Forex market, which implements a medium-term trading strategy based on the theory of wave movement of the market
Expert Advisor does not use martingale, grid, averaging, scalping
The advisor is based on the application of wave analysis to historical data and search for waves predicting the change of the local trend in the future. The Expert Advisor builds a five-period prognostic model for finding the change of trend. Each of periods has its own copy of advisor, which has different internal parameters, including take profit, conditions for opening and closing positions. Each of the Expert Advisors works in its own thread and does not interfere with others. All positions are protected by a stop loss. An Expert Advisor has a minimum of settings for optimization. Most of the settings are set by the extrapolator on the author's side. Using a longer period, repeat patterns are searched. Using a smaller period we approximate and interpolate the key points and refine the patterns. At the end an extrapolator is used to make predictions based on both periods. The extrapolator data is used to find five waves of different periods. Using the extrapolator data, the Expert Advisor trades on the forward period. The Expert Advisor is not self-optimizing and requires from time to time adjustment based on the current market situation.
Signal MT5 (v1.2 - 1.3) - link
- Constant work of the Expert Advisor 24/5. No need to wait for the news or events to trade.
- In comparison with scalpers, Project Gryphon works in the medium term and tries to take the whole price movement, not part of it
- The Expert Advisor is does not require prompt execution of trade orders
- Time of position holding - from several hours to several days
- Each thread has its own copy of the Expert Advisor that uses its own TP for closing positions, as well as the trading system conditions are used for closing trades
- Because of multiple threads, an Expert Advisor can open several onesided positions or positions can be locked by opposite positions
- Each order is strictly monitored by the trading system, and protective stop-loss is set for each of them separately
- For interactivity and convenience the main settings of the Expert Advisor and forecasts for future waves are displayed on the chart
- Optimization is not required to start trading. Most of the settings are adjusted by the extrapolator on the author's side. Stop Loss setting is available
- The Expert Advisor has a built-in system of error detection, and will warn you if a fault is noticed in the work of the Expert Advisor
Currency pair: EURUSD, H1 time frame
Deposit: 0.01 lot for every $500
The Expert Advisor is able to trade on other pairs, but the optimization and adjustment of the interpolator and extrapolator was performed only on EURUSD
Like any other Expert Advisor, it makes forecasts using historical data. Therefore, relying only on forecasts we have only variants of price dynamics evolution. Using big risks, you understand that you can lose your capital. You should not risk with money you are not prepared to lose. That's why you shouldn't risk all the money in your account and put a huge risk in a deal for stable work. Use small lot sizes. Take into account the possible drawdowns, because the Expert Advisor can open up to five onesided positions!
- GMT broker offset - GMT time shift of your broker (drop-down menu to select)
- Start of trading within the current wave - trade within the current wave or start of a new one (more details in the blog)
- Stoploss, point (600-800) - stoploss size for orders, in five decimal points (from 600 to 800 points)
- Magic number - identifier of the orders
- Commentary for positions - commentary on orders
You can find a list of all parameters here
Some notifications appear even when Send Alert is disabled (these are service notifications)
If you have any questions, please contact me via private message on the site. I only answer here. I do not have any additional channels. The original trading advisor is only available here.
A quick guide is available on the blog