Expert advisor Horizon, a rebuilt forex robot that was a price action type before but now with a total new face lift and another type of strategy applied. Yet still a martingale as before, trading now guided by two indicators - ADX and RSi. ADX (Average Directional Movement Index)decides if trading should be allowed by checking market volatility on higher time frame D1 - then 'if' it's allowed now 2:nd indicator RSi now check it's own time frame to get a hold of the current market momentum, if it's a buy or a sell order that should be executed or non of them. For example, if it's a buy then an instant market order placed with take profit, if take profit not hit and the order goes minus now martingale kicks in after x number of defined steps to try bring the first trade into profit. This cycle repeats itself til take profit or - maximum orders reached where trading stops and no more orders placed and we hope the market turns back......or - we hit our risk percentage of equity stop where all open trades now closes in loss and all these scenarios will kill our account some day. If this first order instead hit take profit right away then Horizon wait for a new trading opportunity which can take all from hours to days maybe a week all depending on the ADX threshold which prevent trading in strong trending market which can be dangerous with this type of strategy.
But.....we still have a lifeline to hang on to in between all other mentioned scenarios and that is the so called X-Protect system which only work during news releases together with the news filter activated. This function are ment to give protection against a wipe out, equity or max trade hit and it's working on the last placed order in the martingale sequence which can be defined - so if there is a total 5 open orders including the first one and we have set X-Protect to 4 .......A high impact news now approach with a high expected market volatility and we enter it's pre-defined time range. Now we can only see 4 open orders because the X-Protect function closed the highest lot in the martingale sequence even if it's in profit or loss no matter to protect the initial sequence to increase in size. This function been tested now since august 2018 where a huge draw down on the demo account but have in mind that it was the old price action version of Horizon without this type of function and new strategy. Take a look at the demo signal here;
I'm not saying this is the best solution to a system like this but at least a bit safer in my opinion. As always with martingale systems, secure profits by tight withdrawal periods.....like weekly or so.
- Default settings for EURUSD H1, other currency pairs need optimization!
- Works on most common currency pairs
- 4 and 5 digit brokers
- Deposit 4 digit=$100, 5 digit=$1000
- No DLL's (which is good if you use MQL5 vps as it's prohibited there)
- $100 or $1000 as initial deposit depending on broker choice(digits)
- ECN low spread account to prefer, works on others to but watch out for high spread currency pairs. Please test first!
- Recommended leverage 1:400-1:500, if lower make sure there's enough margin!
News filter URL
Horizon's news filter work by getting information from a server and this is done by getting it by web request. This needs to be activated in your terminal plus that you copy and paste this link there it should be. First of all you allow web request for listed URL's in tabs TOOLS/OPTIONS/EXPERT ADVISORS and here you also paste the link in the corresponding field.
Testing and optimization
When optimization performed - hud display needs to be turned off! Backtest can give results with high draw down but in fact in real trading with X-Protect this is reduced but to be more safe select best parameters with a resonable low draw down as either news filter or x-protect work during optimization
- I refer to the screenshots. If you having problems or questions just PM me and i'll give you assistance.