Forex Best Bot Advisor
The developers of Forex Best Bot did not come up with a name for their product, but simply called it the best.
But they didn’t make a mistake, since literally back in 2011 this robot was almost the only successful project that did not use martingale in its raw form and at the same time had successful multi-month open monitoring.
The most interesting thing is that Forex Best Bot was a completely successful commercial product.
But its main highlight was a completely simple and at the same time understandable trading algorithm, the essence of which you will get acquainted with in this article. The Forex Best Bot Advisor is a trend trading expert that is based on a simple indicator strategy of following the market in the direction of global price movements.
The price analysis robot uses several moving averages with different periods. Therefore, in theory, the robot can conduct effective trading on almost any trading asset or currency pair, but subject to proper optimization.
Expert installation
Until recently, the Forex Best Bot robot was a paid product and cost hundreds of dollars. However, about seven years have already passed, so today you can use it completely free of charge.
Since the Forex Best Bot advisor was a paid development, it was not included in the official MT4 library. Therefore, the robot can only be installed in one standard way, directly through the terminal data directory.
To do this, you will initially need to go to the very end of this article and download the expert file. Then move it to a folder called Expert, which you can access by going into the data directory through your platform's file menu.
After the advisor has been reset to the appropriate folder, be sure to restart the trading terminal or update it in the “Navigator” panel, otherwise Forex Best Bot will not appear in the list of advisors.
In order for the robot to start trading, you need to drag its name directly onto the hourly chart of the Euro/Dollar currency pair.
Forex Best Bot robot strategy. Settings
The Forex Best Bot advisor can easily be classified as an indicator advisor, since it is based on a simple indicator trend strategy. So, to make a decision, the expert uses three moving averages with periods of 3, 5 and 24.
The robot waits for them to intersect with each other and at the moment when they line up either in ascending order for purchases, or in descending order for sales. Then, when the price moves 30 points from the intersection point, a trade is opened.
Forex Best Bot has two lot calculation , static and dynamic.
In order for the advisor to trade only the specified lot, you must select False in the MM line, and indicate the position volume in the Lots line. If you want the advisor to trade a strictly dynamic lot, you must select True in the MM line.
The robot will risk 0.1 lot for every thousand of the deposit. The In Buy and In Sell variables allow you to prohibit or allow the advisor to open positions for both purchases and sales.
In the Aggr Level variable you can set the degree of aggressiveness of the robot's trading.
The Period Filtring variable is responsible for the calculation period of the advisor's built-in filter. The Sl bs variable allows you to change the stop loss size in points.
The StealthMode line allows you to enable the mode of hiding the stop order and profit values from the broker, which ensures that the broker does not interfere with your trading. The Recovery Mode line allows you to enable the so-called recovery mode, when after a losing trade the advisor opens a position with a double lot on the next signal.
Backtesting
Following the developer’s recommendations, we decided to conduct testing for the first half of 2018 on an hourly time frame for the Euro/Dollar currency pair.
The settings remained unchanged, and the test itself was run in all ticks mode. So, the result of the preliminary test:
We also carried out exactly the same test on the Pound/Dollar currency pair, without changing the default settings.
And so, the test result for the British pound is shown in the picture below:
As you can see, the Forex Best Bot advisor, without any martingale and optimization with seven-year settings, was able to demonstrate quite promising forex yield curves.
However, it is worth understanding that the robot trades extremely rarely, so in general its profitability is at a fairly low level and can only satisfy conservative traders.
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