InOut Advisor
Developers often share their work on various Forex forums to practice their skills, and then
work together to refine their creations. The story of the InOut advisor began when a well-known programmer and activist nicknamed Chimilion published a simple expert advisor that opened only a sell order and, in the event of a loss, began averaging the position.
However, traders, without losing their composure, quickly scrambled to create an expert advisor based on a custom indicator that provided clear signals. Almost all traders are passionate, so just as quickly as they became excited about creating something new, they quickly became burned out.
Although the topic has died down, the author has created a good expert advisor, which our team has decided to review on this website. Before you begin, you should install the expert advisor on the Meta Trader 4 trading platform.
To do this, download the archive containing the advisor at the end of the article. Launch your trading terminal, go to the File menu, and open the data folder. Among all the folders, find the folder named Expert and place the downloaded file there. For the terminal to see the advisor, you'll need to restart it. After launching, go to the Advisors menu and drag InOut onto the price chart. A settings window will appear, which we'll discuss below:
The expert advisor is based on a very simple trading strategy based on the IVAR indicator. The indicator is a simple oscillator, so the expert advisor buys when the indicator line crosses the 0.5 level from below and sells when the indicator crosses the 0.5 level from above. If a position is unprofitable after reaching a certain distance, the expert advisor opens an order with a doubled lot in the opposite direction. You can see what this indicator looks like in the image below:
Now that we've covered the entry algorithm, let's move on to the expert advisor settings. Because our programmer wrote the expert advisor, all the settings are in Russian, so those familiar with expert advisors will understand them immediately. For beginners, the "Close all when profit" line allows you to specify the profit in dollar terms.
The line "loss in points at which the advisor opens an opposite order" is responsible for the distance between orders when averaging a losing position.
In the "How many times to increase the opposite lot" line, you can set the martingale order multiplication factor. The "lot" line changes the initial lot.
In the "After this number of orders, close all at a loss" line, you can set the maximum number of averaging orders. If the expert advisor fails to break even within 10 positions, it will close the series of orders to avoid losses. These are the basic settings you need to know.
After describing the expert advisor, we move on to testing it in the strategy tester. We'll conduct the first test on the EUR/USD currency pair on a five-minute time frame. The testing period will be from January 1, 2015, to July 1, 2015. The test result with default settings is shown in the image below:
The second test was conducted on the GBP/USD currency pair. All test dates and conditions remained the same. The test results are shown in the image below:
Overall, the yield curve, even with such risks, would probably surprise even the most inveterate skeptics of automated trading. Therefore, our team will soon be testing the expert advisor on our server. Thank you for your attention, and remember, the minimum deposit for proper operation is $100 on a cent account. Recommended brokers for using the expert advisor are Amarkets and InstaForex . Profit, gentlemen!
