PipSwinger Advisor
Martingale-based advisors are especially popular among novice traders. However, this particular approach to capital management is considered one of the most risky, since, unlike the traditional approach, it is not a certain small percentage that is lost, but an almost complete drain of the deposit.
However, despite the high risks, it is the martingale tactic that allows you to get high profits in the short term, and a correct and reasonable approach to position volume allows systems of this kind to stay afloat for a long time.
The PipSwinger advisor is a prominent representative of martingale-based robots and is very popular among novice traders.
Unlike other experts based on similar tactics, PipSwinger has a built-in unique risk management system, which can significantly reduce the likelihood of losing the entire deposit in the event of a prolonged drawdown.
Installing PipSwinger
Before proceeding with a detailed review of the expert and its testing, you will need to install the PipSwinger robot in the MT4 trading terminal. First of all, go to the end of the article and download the file that we will install. Next, open the trading platform and open the data directory in the file menu.
By launching this directory, you will see a list of system folders, among which find the folder called expert and drop the downloaded file into it. In order for the terminal to see PipSwinger, just restart it. After installation, PipSwinger will appear in the list of experts, so you just need to drag it onto the hourly chart of any currency pair.
Settings
The PipSwinger Expert Advisor has a huge range of settings, thanks to which you can independently make the Expert Advisor both more aggressive and more conservative.
The first variable in the advisor called DoTrades allows you to enable or disable the trading expert, while in the MonitorAndClose line you can prohibit the expert from trading after all orders are closed.
The Expert Advisor also provides protection against broker interference, namely the so-called stealth mode. Thus, by turning on the stealth mode in the StealthMode line, the PipSwinger advisor will not send data with a stop order and profit to the broker’s server, but will control it independently.
You can also enable or disable automatic activation of stealth mode before the weekend in the AutoStealthMode line. By turning on the stealth mode, the broker cannot manipulate the size of the gap on Monday, which protects you from unscrupulous companies. The AllowLotsBeyondMaxSize variable allows you to bypass restrictions on the maximum lot size by the broker.
When this parameter is enabled, the advisor will open several positions, splitting the volume into those allowed by the broker, creating the total required value. The ModifyMartingale variable allows you to enable special protection, due to which the series of doubling martingale orders will begin only from the third generation. In the TradeDirection line you can change the order opening mode.
So, by setting the number 1, the advisor will only buy, and -1 will only sell. By setting the value to 0, the expert will be able to open both sell and buy positions simultaneously. By setting the value to 2, the expert will alternate with opening orders, namely, after a purchase, it will open sales and vice versa. If you leave the number 3, the expert will be guided by his own algorithm of actions. The TradeRange variable is responsible for both the profit of the position and the distance between open orders of the martingale .
By setting the value to 0, the expert will calculate this value using the ATR volatility indicator. The WaitPips variable allows you to open a position with a certain delay in points. You can also enable or disable the special mode UseMartingaleDisrupter, thanks to which the expert achieves a reduction in drawdown.
Thus, the AdjustTakeProfit line allows you to enable accounting for the accumulated swap, and the OnlyAfterLevel line allows you to specify from which leg of the martingale the MartingaleDisrupter algorithm will start working. The DisrupterClose variable allows you to change the size of the multiplier, and MaxSellMartingaleLevel and MaxBuyMartingaleLevel allow you to limit the number of multiplications for both buys and sells.
In order for the expert to correctly calculate the lot size, you will need to enter the size of your balance in the BalanceFactor line.
If you want the robot to open the first order with a specific lot, then simply indicate its value in the TradeLots line. You can also use the trading filter for certain days and, opposite each day of the week, allow or prohibit trading. Testing on a historical period
As we have already said, the PipSwinger advisor is a multi-currency expert, so we decided to conduct testing on two major currency pairs for the entire 2015.
The test result for EUR/USD is shown below:
Despite the drawdown of 19 percent, the expert successfully passed the test and earned just over 11 percent. Test result for GBP/USD:
In conclusion, it is worth noting that the PipSwinger advisor has, albeit weak, stable returns within 10-15 percent per annum for one currency pair. Therefore, we can confidently recommend it for trading on a cent account .
Download the PipSwinger advisor .