Profitgear Advisor
The pursuit of complex algorithms forces traders to create highly sophisticated trading strategies and, as a result, trading advisors.
The excessive complexity of advisors prevents them from being used by novice traders, so we present to you an option with simple settings.
images/sovetniki-2/ProfitGea.png – This is a trading robot based on a simple, indicator-free trading strategy designed to identify strong market impulses.
Profitgear can be used on any currency pair, making it multi-currency.
Moreover, the expert advisor is not only multi-currency, but can also be used on any time frame. 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 isn't included by default in the MT4 trading platform. Therefore, you'll need to download the EA archive and install it on your MT4 trading terminal.
Installing the Profitgear advisor follows the standard procedure. Specifically, you'll need to copy the downloaded file to a specific folder within the platform's data directory. To open the data directory, open your MT4 trading platform and click the File menu in the upper left corner.
After launching the File menu, the terminal will offer several options, including "Open Data Folder" and launch it. The next step after launching the data folder is to find a folder named "expert" and copy the downloaded Profitgear advisor file into it.
After you close all the data directory folders, it is very important to refresh the terminal in the navigator panel or restart your trading platform.
After restarting the terminal, Profitgear will appear in the list of advisors, and to start trading, simply drag it onto the hourly chart of the EUR/USD 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 capture strong market momentum.
So the expert places two pending orders, buy stop and sell stop, above and below the price at a certain distance, and as the price moves, the orders are constantly moving.
When a strong momentum occurs in the market (usually after news), one of the orders is triggered, while the other is automatically deleted. For each order, the advisor sets a stop loss and a profit, without using martingale or averaging.
As we've already noted, the Profitgear expert advisor is designed primarily for beginners, so all parameters that could influence entry and exit points are simply hidden. The expert advisor only contains two variables.
So in the Lot line you can change the volume of positions that are set in the form pending orders.
The Magic variable allows you to assign a special code to all orders, allowing the advisor to identify only its own positions and not affect trades opened manually or by other experts.
Testing the Advisor
To get an objective picture of this robot, we decided to test the expert advisor with default settings on the EUR/USD currency pair for the entire 2016 period on an hourly chart. The results of the preliminary test in the strategy tester are below:
As you can see, the expert was able to bring in 10 percent of the deposit with a maximum drawdown of 5 percent, which is almost comparable to the risk-free bank yield.
In conclusion, it is worth noting that, despite the simplicity strategies, the expert is profitable, but his profitability is extremely low.
This is why we can only recommend this expert advisor to long-term traders and investors, while other categories of traders are advised to choose other experts from our website.
