ForexHacked2.3
I first encountered this advisor in early 2014 on a reputable Forex resource. Personally, when I first encountered this advisor,
I simply passed it by. I thought I was dealing with a typical martingale, of which there are already plenty online. But over time, I began to increasingly come across real monitoring sites for cent accounts.
While all the other martingale experts were losing, this one was confidently pushing its balance line higher. This consistent profitability really intrigued me, so I decided to share the review here.
The expert advisor is designed for trading the GBP/USD currency pair on an hourly time frame. Many users, with proper configuration, also use it on other currency pairs, although the developers themselves advise against such experiments.
The essence of the advisor's strategy is that when a position is losing, it opens two orders in opposite directions.
The advisor averages the one that goes against the market using martingale, while the second one achieves profit. The first position is entered using standard indicators.
To work with the expert advisor, you need to install it on your MT4. To do this, download the advisor at the end of the article. In the running terminal, go to the File menu and open the data folder. Place the advisor in the "expert" folder and restart the terminal. In the running terminal, find ForexHacked2.3 in the list of advisors and drag it onto the GBP/USD currency pair screen on the hourly time frame. Replace the settings with those provided with the advisor as a set file. The advisor is ready to use.
The EA's developers have made every effort to make the money management settings as transparent as possible. In the PipStarter line, you can specify the number of pips after which the next order will open in the event of a losing position. The MaxBuyOrders line specifies the maximum number of simultaneously open buy positions, and the MaxSellOrders line specifies the maximum number of simultaneously open sell orders. The iStopLoss line specifies the stop order level in pips. The Booster line controls the risk percentage when averaging for each subsequent position. The Lots function controls the initial lot the EA will enter when opening the first order. The TakeProfit line controls the profit in pips.
For the superstitious, the EA also has a built-in time filter. You can specify the time the EA will start and end. You can also set the start and end days of the EA in the StartingTradeDay field.
The first test was conducted with default settings on the GBP/USD currency pair on an hourly time frame . The testing period was set from July 1, 2014, to May 14, 2015. The results are shown in the image below:
Naturally, this test result disappointed me, so I decided to reconfigure the EA. I adjusted the settings manually based on my own experience. I didn't perform any optimizations in the tester. The results for the same period and under the same conditions are shown in the image:
Although the author of the advisor doesn't recommend using it on other currency pairs, I decided to test it on the EUR/USD currency pair. I kept the same conditions. The result is shown in the image:
Overall, I'd like to point out that the EA is profitable, but also risky. Before testing it on a cent account, I recommend reconfiguring it in the strategy tester. Thank you for your attention, and good luck.
