Forex Warrior Advisor v4.0.6
Today, I'd like to introduce you to a unique grid expert, which can rightfully be considered
a next-generation expert. The essence of this expert, like similar ones, is that it places a grid of pending buy-limit and sell-limit orders at a certain distance from each other.
A significant difference is that the expert advisor builds a grid for both the long-term and short-term. Thus, the expert advisor creates order baskets, and when a predetermined profit is reached, the basket is closed.
Each basket, which in turn consists of orders, has a built-in martingale function. Another important factor is that this expert advisor's averaging of positions is limited by a stop order. The expert advisor appears complex to configure, but after reading this, most questions will disappear.
The Forex Warrior advisor is designed for trading on the hourly chart for the EUR/USD and GBP/USD currency pairs. I've already explained the strategy, so you probably already guessed that the advisor can be customized for any currency pair and time frame.
Before you begin working with the Expert Advisor, you should install it in the Meta Trader 4 trading terminal. To do this, download the Expert Advisor archive and libraries from the end of this article. In your trading terminal, go to the "File" tab and open the data folder. Place the library file in the "Libraries" folder, and the Expert Advisor in the "Expert" folder. Afterward, restart the terminal. Next, find Forex Warrior in the list of Expert Advisors and drag it onto the price chart. A settings window will appear, as described below:
Forex Warrior setup.
The settings are very diverse, and their number is, frankly, impressive. Therefore, I will describe the most basic ones and those that should be optimized before starting trading on a real account. The developer's settings will also be included in the EA archive.
In the LotSize line, you can change the initial lot size the Expert Advisor opens with. You can also enable automatic lot calculation based on your deposit. You can also set the distance in points between the grid orders placed by the Expert Advisor.
To do this, enter the desired distance in points in the GridStepPips line. In the TakeProfitPips line, you can change the profit for the entire order grid. In the LotMult line, you can change the initial order multiplier in case the price moves against you. In the StopLossPips line, you can set a stop loss in points for each order. The Expert Advisor also has a Trend Parameters settings block, where you can enable trend analysis and modify the entry algorithm.
The first test of the Forex Warrior advisor was conducted on the EUR/USD currency pair on an hourly chart. The testing period was set from January 1, 2015, to June 2, 2015. All settings were left at default values. The test results are shown in the image below:
As you can see from the chart, the EA's returns aren't exactly stellar. Therefore, I decided to optimize the EA's settings. The following parameters were optimized: GridStepPips, TakeProfitPips, LotMult, and StopLossPips. The optimization period was set from September 1, 2014, to January 1, 2015. I selected the most optimal options from the suggested ones and ran a forward test from January 1, 2015, to June 2, 2015. The test results are shown in the image below:
The Expert Advisor is very easy to optimize, so you can always adjust it to any market conditions. However, you should be aware that grid systems, especially those with martingale, require a large deposit and can easily blow it away. Therefore, I recommend using the minimum lot size and only on cent accounts. Thank you for your attention, and good luck!
