Expert advisor Horizon, a rebuilt forex robot that was a priceaction type before but now with a total new facelift and another type of strategy applyied. 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 timeframe D1 - then 'if' it's allowed now 2:nd indicator RSi now check it's own timeframe 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 takeprofit, if takeprofit 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 profit achived or - maximum orders reached where trading stops and no more orders placed and we hope the market turns our favour......or - we hit our risk percentage of equity stop where all open trades now closes in loss and all theese scenarios will kill our account some day. If this first order instead hit takeprofit 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 dangereose with this type of strategy.
But.....we still have a lifeline to hang on to in between all other mentioned scenarios and thats the so called X-Protect system which only work during newsreleases together with the newsfilter activated. This function are ment to give protection against a wipeout, equity or maxtrade hit and it's working on the last placed order in the martingale sequence which can be defined - so if theres total 5 open orders including the first one and we have set X-Protect to 4 .......A high impact news now aproach with a high expectance of market volatility and we enter it's pre-defined timerange. 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 drawdown accured on the demo account but have in mind that it was the old priceaction 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 atleast a bit safer in my opinion. As always with martingale systems, secure profits by tight withdrawal periods.....like weekly or so.
- Pre-configured to trade EURUSD H1, other curreny pairs need optimization!
- Works on most common currency pairs
- No DLL's (which is good if you use MQL5 vps as it's prohibited there)
- 1000USD as initial deposit
- ECN low spread account to prefer, works on others to but watch out for high spread currency pairs. Please test first!
- 5 digit broker
- Leverage 1:400-1:500
Horizon's newsfilter work by getting information from a server and this is done by getting it by webrequest. 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 webrequest 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 - Newssystem and all huds needs to be turned off! Backtest can give results with high drawdown but infact in real trading with X-Protect this is reduced but to be more safe select best parameters with a resonable low drawdown as either newsfilter 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.