Use of Market Sentiment realized in Gamma Etalong Exper Advisor (hereinafter "GE").
Concept and Brief Description
- The signal comes out at the end of the trend when Market Sentiment Oscillator (momentum oscillator of averaged bulls/bears percentage) starts losing its strength - after reaching a predefined extremum.
- The signal is reconfirmed by several indicators known to work well in mean-reversion strategies, i.e. S/R, ZigZag and EMA.
- The signal is reconfirmed by using several indicators on a higher TF for better timing - in order to take into full account what’s happening in the Market on a larger scale.
- sustainable profitability on a vast history (15 years)
- reasonable number of trades (>50-70 per year)
- decent DD <25-30% per 1% initial lot size (DD <2.5-3.0% per 0.1% initial lot size)
- any TF. Not sensitive to Spread//Broker
- MM, always use fixed SL to protect account against adverse market conditions
- Default settings are ready for EURGBP M15
- Profitable closing of potentially losing trades by using light martingale (series of 3-4 orders, never more than 5, if the EA opens >=6 orders in a row – such settings go to scrap)
- Automatic adjustment to 4 and 5-digit quotes
- Indication of the current Spread on a chart
- Setting max allowed Slippage
- Markings on charts for openings, closings and cancellations (indicating the reason)
- All used indicators get turned on the chart after Test run in "Visual mode"
- By the end of each test GЕ:
- calculates Average Holding Time (average life time of all trades)
- indicates max number of consecutive positions in martingale (usually 3-4)
- calculates comprehensive Profit-Index (comes handy as a benchmark for comparison of different tests) proprietary formula for which includes:
- # of profitable trades vs. total # of trades
- total profit vs. # of profitable trades
- total loss vs. # of losing trades.
Note 1: make sure that all TF charts from M15 to D1 are turned on for your MT4 for the pair, otherwise EA gets removed automatically (in this case log will read: "GE EURGBP initialization failed").
Note 2: if you run Tester in Visual on M15, but using higher TF for filters (lets say ZigZag on H4), ZigZag will NOT be shown on the chart.
Note 3: we do not recommend trading the next day after holidays (the 1st of May, New Year, Christmas, etc.).