Drovasek EA (No Indicators)
When trading in financial markets, it is very important to have a deep understanding of the strengths and weaknesses of a strategy, and, most importantly, of yourself.
This is necessary in order to correctly select a capital management system that would compensate for the weakness of the strategy.
However, traders often abandon the use of classic indicator systems, focusing on a capital management model.
A similar approach is used in all grid strategies, as well as averaging-based strategies.
This allows you to, at a minimum, eliminate numerous false signals, and, at a maximum, earn consistent profits in the Forex market with virtually no experience or a coherent strategy. You'll learn about such an algorithm in this article.
The Drovasek EA is an automated trading expert advisor based on indicator-free trading. More precisely, its operating principle is based on averaging with elements of grid trading using pending orders.
A key feature of the Drovasek EA is its flexible grid settings system. Rather than setting general parameters for the entire network, traders can optimize each averaging leg individually.
Installing the Drovasek EA Advisor
The Drovasek EA, a non-indicator expert advisor, was for a long time a purely commercial product, as it could only be used after purchasing a license from its author. However, the robot's creator never achieved the sales he hoped for, and the project was shut down.
However, while the developer and his sales website have disappeared from view, the robot has remained alive and hasn't lost any of the interest from many traders.
Since Drovasek EA was distributed commercially and was not included in the official MT4 library, it can only be installed using the standard installation method via the data directory.
To do this, scroll to the end of the article and download the robot file, as well as the special library file, which will allow the robot to work on a real account without a license.
Next, you need to copy the downloaded files to the appropriate folders in the data directory: the robot itself to a folder named Expert, and the library file to a folder named Libraries. You can access these folders through the File menu in the open MT4 trading terminal.
After installation, you'll need to update the trading terminal. This can be done either through the additional menu in the navigator panel or by simply restarting the trading terminal.
After the update, Drovasek EA will appear in the list of advisors, and to start trading, simply drag the robot onto the chart of the selected currency pair.
Trading strategy of the non-indicator advisor.
The Drovasek EA advisor uses a very simple, indicator-free strategy for its trading.
Once plotted on the chart, buy and sell positions of the same lot size will be opened simultaneously. The robot will then place a limit pending order with an increased volume for each position.
Averaging and placing pending orders will continue until the robot achieves profit on the first position in the series, while the second position will continue to generate profit.
So, in the Lots variable, you can change the volume of the initial position, and in the Max_Kol_Orders variable, you can limit the maximum number of orders that can participate in the averaging grid.
In the Profit variable, you can specify the profit size for the order grid, and in the Stop_Los variable, the size of the stop order.
The Lot_Koef variable controls the multiplication factor for lot calculations if a position starts moving against the market. The timestart1 and timestop1 variables allow you to limit the EA's operation to specific times of day.
The Closeprocent variable allows you to automatically close positions when a certain drawdown is reached. The Sunday-Saturday variables allow you to disable the EA on certain days of the week.
The variables level2-level11 allow you to adjust the distance between orders for each knee separately, and the variables profit2-profit2 allow you to change take profit size for each knee of the averaging grid.
Testing and optimization
The downloaded version of the advisor is a professional version and allows for personalized configuration. Therefore, to use the advisor in practice, a trader must optimize at least the basic parameters, such as the coefficient size and profit margin.
If optimal settings aren't found, it's necessary to delve deeper into optimizing the distance between orders and profits. As an experiment, we conducted a similar optimization for the EUR/USD currency pair on an hourly time frame for 2017. Test results:
In conclusion, it's worth noting that the Drovasek EA is a typical grid expert advisor. However, thanks to its extensive range of settings, you can easily select the optimal parameters depending on your deposit and maximum allowable volume subsidence.
Download the Drovasek EA indicator-free advisor
