Averaging Expert Advisor Xarax
Technical analysis, despite its ease of use and mastery in the forex market, has one significant drawback - almost all tools sooner or later need deep optimization.
This shortcoming is especially critical if Forex advisors are based on technical analysis indicators.
In practice, any change in market conditions leads to a sharp change in the profitability of the strategy , and it only takes one indicator to fail and the entire strategy crumbles before our eyes.
Naturally, knowing this drawback, the trader can constantly optimize the settings.
However, the understanding that the market has changed often comes only when a significant part of the profit earned has already been lost. This is why lately traders have been more inclined to use Forex advisors not based on technical analysis, but on the basis of mathematical models, for example, averaging.
It is worth noting that the robot can be safely used on absolutely all currency pairs, without exception, but you should limit yourself to currency pairs that are directly in flat most of the time, or the length of the trend wave is not large.
Also, the Xarax advisor can be used on almost any time frame, so it can be used both as a scalping advisor on M1 and M5, and as an intraday and long-term robot.
Installing the Xarax Advisor
The Xarax averaging advisor is a custom development, the creation of which dates back to 2017.
Since the robot is not installed in the trading terminal by default, you will need to first download its file at the end of this article, and then carry out the installation procedure directly into your MT4 trading terminal.
The robot is installed according to the standard scheme, and the procedure itself is no different from installing any other custom expert.
To do this, you just need to dump the Xarax robot file downloaded at the end of the article into the appropriate folder in the data directory of your MetaTrader 4 trading terminal.
You can find more detailed instructions for installing advisors by following the link http://time-forex.com/praktika/ustanovka-indikatora-ili-sovetnika.
After installing Xarax in the trading platform, you need to update the Navigator panel or restart the platform, otherwise the adviser will not appear in the list.
In order for the advisor to start trading, just drag the name of the robot onto the chart of the currency pair you have chosen.
Xarax trading strategy.
Settings As we have already noted, the Xarax advisor is built on the basis of a non-indicator strategy with averaging elements.
So, after placing the expert on the chart, it will immediately open two orders in different directions, namely to buy and sell with the same lot.
Then the robot will increase profits on one order until the second one goes negative, after which it begins to place pending orders, averaging losses with an increased lot.
The Xarax advisor contains a simple set of variables that are very easy to optimize for absolutely any market.
So in the TP variable you can set the profit in points, and in the SL variable you can limit the maximum amount of loss in points. The Lot variable allows you to set the position volume for the first two orders, and the coefficient lot variable allows you to change the multiplication factor of subsequent orders in case the martingale is triggered.
The minTP variable allows you to set the minimum profit level in the currency of your deposit.
The drawdown variable allows you to set the distance in points from an already open position to place a pending order with an increased lot, and the deferred variable allows you to set the distance from the current price to place pending orders (the distance between averaging orders is adjusted).
The MagicNumber variable allows you to assign a unique code to orders, thanks to which the advisor tracks and maintains its own open orders and does not touch open transactions manually or by other advisors.
Preliminary test
Since the author of the robot does not give clear recommendations on settings and recommends individual optimization of parameters for a specific instrument, we decided to make our own set with settings.
After optimizing key parameters for the five-minute chart of the Euro/Dollar currency pair over the past year, we received the following results:
In conclusion, it is worth noting that Xarax is a rather aggressive robot that averages losses using martingale.
Therefore, for it to work effectively, it is necessary to significantly increase the size of the deposit, or use it exclusively on cent accounts .
Download Xarax advisor