Advisor E-bot_Bars_v1.3
In the slips of another miracle expert, I inadvertently came across a forum thread of one of the developers, where it
seemed to me that at first glance they were offering a typical martingale. That’s how it is, but the algorithm for entering a position itself interested me very much.
Expert Advisor E-bot_Bars_v1.3 is a fully automatic advisor, which was developed in 2012 at the request of a domestic trader. I think many of you have often thought about the fact that if the current candle is lower than the previous one, then this kind of combination can be considered as a sell signal.
The principle of this advisor is very similar to the previous statement, namely, it takes the last two bars for analysis and if the closing price of the current bar is higher than the previous one, then the expert opens a buy position. If the closing price is lower than the closing price of the previous bar, then the expert opens a sell position.
If the price does not close at take profit, the expert begins to average the loss using a regular martingale. The idea of this expert is very simple, however, very often simple ideas become a goldmine.
Before you start working with the expert, you need to install it in the Meta Trader 4 trading platform. To do this, download the expert at the end of the article and copy it to the expert folder through the data directory of your terminal. After installation, simply restart the trading terminal and find the E-bot_Bars_v1.3 advisor in the list. In order for it to start working, simply drag it onto the chart of the currency pair.
If you have any difficulties during installation, I recommend that you read the article “ How to use an advisor for Forex ” where you can see in detail how the installation is carried out and typical settings of experts. After you place the expert on the chart, a settings window will appear, which we will discuss below:
The advisor has two types of work with orders. The first one, which is two-sided, allows the expert to open and hold sell and buy positions at the same time. Moreover, I can note that with such management, martingale can work both for a sell position and for a buy position. On the one hand, you have a lot of transactions and you do not miss possible profits, and on the other hand, there is a large drawdown that can ruin your account.
The essence of the second order management is that until the expert closes his open martingale position, he will not open an order on a new signal. In order to enable the second type, simply enable false in the Two Sides line.
Further, all other settings are like those of a typical monkey, namely Lotmult is responsible for the multiplication coefficient of the next lot, Step is for the distance between orders, Max Trades is responsible for the maximum number of simultaneously open orders.
In the Lot line you can change the initial lot, and in the Take Profit line you can change the expert's profit. The first test was carried out on the euro/dollar currency pair on a five-minute chart.
The settings came together with the expert, so we don’t change anything. The test period is from January 1, 2015 to July 1, 2015. You can see the test result in the picture below:
The second test was carried out with the same settings and for the same period, but only on the pound/dollar currency pair on a five-minute chart. The result is shown in the picture below:
Despite the high drawdown, the expert gives an average of 80-90 percent profit on any currency pair in six months. I think this is a good indicator; for a final check, it is recommended to run an expert using cent accounts ! Thanks for your attention, good luck!