Silent Ilan
The advisor was first posted on a domestic forum by a fan of Ilan advisors. As you might have guessed from the name, this expert advisor is yet another modification of the well-known Ilan advisor.
A key difference between this advisor and its previous version is its indicator-based trading strategy, as well as numerous positive reviews. The product is non-commercial, so the author created it as is. Thanks to him for that.
The advisor itself, like its older counterpart, is a classic martingale, or as traders say, "typical monkeys." Of course, one can debate at length about the shortcomings of martingale and how it can lead to account loss, but many traders still use it and earn good money. For how long? That's another question.
Silent Ilan generates the highest profits in flat trading. Like all Ilan EAs, the EA is multi-currency and can be used on any timeframe from M5 to H4. The preferred currency pairs are GBP/USD and EUR/USD.
As I mentioned above, the EA is based on Martingale , so the settings are very similar to Ilan-like EAs. You can specify the lot calculation option in the LotVariant field. I recommend working with a fixed lot, which you can set in the FixLot field.
The EA features a time filter where you can specify the end time of trading. In the StartTime field, you can specify the time the EA can begin trading. You can also disable this filter entirely. To do this, simply enter 0 in the UseHour field.
As with any martingale, you can change the multiplier in the LotExponent field in the event of a losing position. In the MaxTrades field, you can specify the maximum number of orders that will be opened if the market moves in your favor.
To enter a position, the advisor uses readings from two indicators: the well-known RSI oscillator and the Ozymandias indicator. In the RSIPer line, you can change the RSI indicator period, and in the Glubina line, you can change the number of recent bars for calculating volatility .
Testing the Silent Ilan Advisor
I decided to run my first test on the EUR/USD pair on the M5 timeframe. Frankly, the results weren't very good, and the EA wiped out my account within a couple of days. The chart is shown in the image below:
After seeing these results, I realized I needed to change some settings in the advisor. First, I decreased the fixed profit from 100 points to 15. Next, I switched to fixed lot size mode and set the initial lot size to 0.1. I also increased the maximum number of orders from 7 to 15. All the settings were changed intuitively, so you can see the results on the chart:
The profit over three months was 17 percent, and the maximum drawdown was barely 7 percent. I'd like to point out that I didn't perform any detailed optimization; these are just superficial settings. With detailed tuning, you can squeeze much more out of the market, so I believe the EA has great potential.
Before deploying the EA to your account, be sure to optimize and test it on cent accounts .
