Boiler EA Advisor
The Boiler EA Advisor is a unique development based on the Forex Goiler indicator.
For those who are not in the know, the indicator was created based on the analysis of the famous trader William Gann. Personally, I rarely see tools that are based on Gann calculations, but, as a rule, they are very profitable and worth our attention.
The Goiler indicator builds different levels, upon the breakdown of which the advisor opens a position. The principle of operation is very simple, and you can clearly see it by running the advisor in the strategy tester using visualization.
The advisor is designed to work on the euro/dollar currency pair and almost all pairs that have the euro. On other currency pairs it is necessary to perform optimization. Work is carried out on an hourly time frame.
Before starting the robot, you should install the expert in your Meta Trader 4 trading terminal. To do this, download the archive with the advisor inside. Open the trading terminal, go to the file tab and go to the data directory. Place the file in the expert folder and restart the platform. Next, in the list of advisors, find Boiler EA and drag it onto the chart of the euro/dollar currency pair. A settings window will pop up in front of you, which we will discuss below:
The author of the advisor mainly made settings for capital management. So in the MoneyManagement line you can enable automatic lot calculation. In the PercentRisk line you set the risk percentage of the deposit. In the LotSize line you specify the size of the initial lot if you have disabled automatic lot calculation. Also in the Dalembert line you can activate capital management according to D'Alembert.
The essence of this capital management is that in case of a losing position, the advisor opens a lot one unit more. So, for example, if the default lot value is 0.01, then in the case of a losing position the advisor will open with a lot of 0.02, then 0.03 and so on adding one at a time. The BreakevenAtPips line specifies at what level the position is converted to breakeven.
In the TrailingStopPip line you can specify the trailing stop in points, and in the TrailingStep line you can specify the step. SetStopLoss is responsible for setting your own stop order, and the SetTakeProfit line is responsible for setting your own profit. Also in the EA, in the MagicNumber line, you can set a unique code with which the EA will identify its orders.
Most of the settings are visually clear, so you won't have any problems with the settings.
The advisor uses a given profit and stop, so for trading, $100 on a classic account or $1 on a cent account . The first test was carried out on the euro/dollar pair on the hourly time frame. The test period is from 01/01/2015 to 05/31/2015. I left the settings as default. The test result is shown in the picture below:
I decided to conduct the second test on the same currency pair and for the same period. In the settings, I disabled automatic lot calculation and enabled D'Alembert capital management. The test result is shown in the picture below:
In general, we can conclude that the expert is profitable and stable. It is also good that the EA does not contain risky money management methods such as martingale, grid or locking. A significant advantage is that you can start trading with one hundred dollars on a classic account. I recommend testing the Expert Advisor on a demo account. Thanks for your attention, good luck!