Profitgear Advisor
The pursuit of complex algorithms forces traders to create the most complex trading strategies, and as a result, trading advisors.
Excessively complex advisors do not allow beginner traders to use them, so we present to your attention an option with simple settings.
images/sovetniki-2/ProfitGea.png is a trading robot based on simple, indicator-free trading tactics that are designed to search for strong market impulses.
Profitgear can be used on any currency pairs, which makes it multi-currency.
Moreover, the expert is not only multi-currency, but can also be used on any time frames, however, as the developer recommends, it is best not to use it on time frames below the fifteen-minute chart.
Installing the Profitgear advisor
The Profitgear Expert Advisor is a custom Expert Advisor that is not available by default in the MT4 trading platform. That is why you will need to download the archive with the advisor and install it in the MT4 trading terminal.
Installation of the Profitgear advisor follows the standard procedure, namely, you will need to drop the downloaded file into a specific folder in the platform data directory. To launch the data catalog, open your MT4 trading platform and in the upper left corner, launch the file menu.
By launching the file menu, the terminal will offer a number of options, among which find “Open data directory” and run it. The next step after launching the data directory is to find a folder called expert and drop the downloaded Profitgear advisor file into it.
After you close all the folders in the data directory, it is very important to update the terminal in the navigator panel, or restart your trading platform.
After restarting the terminal, Profitgear will appear in the list of advisors, and in order for it to start trading, you just need to drag it onto the hourly chart of the euro/dollar currency pair.
Advisor trading strategy. Settings
The Profitgear trading expert is based on a simple, indicator-free trading strategy, the main goal of which is to catch a strong market impulse.
So the expert places two pending orders, buy stop and sit stop above and below the price at a certain distance, and as the price moves, the orders are constantly moving.
At the moment when a strong impulse arises in the market (usually after news), one of the orders is triggered, while the second is automatically deleted. For each order, the advisor sets a stop order and profit, and does not use martingale or averaging.
As we have already noted, the Profitgear advisor is designed primarily for beginners, so all parameters that can affect the entry and exit points are simply hidden. The Expert Advisor contains only two variables.
So in the Lot line you can change the volume of positions, which are set in the form pending orders.
The Magic variable allows you to assign a special code to all orders, thanks to which the advisor determines only its own positions and does not affect transactions opened manually or by other experts.
Testing the Expert Advisor
In order to get an objective picture of this robot, we decided to test the Expert Advisor with default settings on the Euro/Dollar currency pair for the entire 2016 on an hourly chart. So, the result of the preliminary test in the strategy tester is below:
As you can see, the expert was able to bring 10 percent to the deposit with a maximum drawdown of 5 percent, which is almost comparable to risk-free bank returns.
In conclusion, it is worth noting that, despite the simplicity strategies, the expert is profitable, but its profitability is extremely low.
That is why we can recommend the expert only to long-term traders and investors, while we recommend that other categories of traders choose other experts from the pages of our website.