Advisor Ondafx
The Ondafx trading expert was developed in 2013 by foreign programmers who incorporated a unique multifunctional
trading algorithm into it. In its trading, the expert relies on the readings of standard trend indicators. First of all, the advisor is designed for flat trading, since it enters a position based on the bolinger band indicator.
This indicator consists of three moving averages that create a kind of channel around the price. When the price approaches the upper border of the channel, the advisor opens a sell order, and when the price approaches the lower border of the channel, a buy order opens. These signals are related to the pattern of the indicator, which is that the price always tries to return to the middle of the channel.
By default, the expert is designed for trading on the euro/dollar and aussie/dollar currency pairs on an hourly chart. But since the strategy is multi-currency ( standard indicators that are described in many books), it can be considered multi-currency.
To work with the advisor, you must install it in your Meta Trader 4 terminal. Go to the end of the article and download the archive with the expert. In an open trading terminal, go to the file tab and open the data directory. Place the advisor in a folder called expert. Restart the terminal and find the advisor named Ondafx in the list. Drag it onto the chart of the recommended currency pair on the hourly time chart. Next, change the settings or leave them as default and allow him to trade.
The developers have made the settings of this advisor quite varied, so you can customize all elements of the advisor and its strategy. Since there are really a lot of settings, I will post the main ones in the article, but the full version will be in the archive with the advisor.
In the bb period line you can change the period of the bolinger bands indicator.
The Lot Size line is responsible for the lot that the Expert Advisor will be included in. By default, the EA uses a standard lot , but then the EA simply sits out losses.
In the settings there are ten lines of Lot Size and craftsmen, taking advantage of this, make a special martingale, writing in each line the formula: multiply the previous lot by two. But we will not get a regular martingale, since the distance between orders will be calculated based on the ATR indicator.
The advisor also has the ability to enable a trend filter based on the Moving Average . To do this, enter the period of the moving average in the Filter Sma line. The essence of this filter is that if the price at the time the buy signal appears is below the moving average, then the advisor will ignore such a position. For sales, it's exactly the opposite.
I decided to do the first test on the pound/dollar currency pair on the hourly time frame. I immediately changed the settings, registering lots for increase as described above. The test period is from June 1, 2014 to May 27, 2015. Testing was chosen based on opening prices, since testing would take a full day for all ticks. The test result is shown in the picture:
The second test was carried out with the same settings and for the same period on the pound-dollar currency pair.
The test result is shown in the picture below: I was very interested in the test results for both currency pairs, so we will soon put them up for testing on a demo account. The advisor is suitable for working with a small deposit, since when tested with $100 on a cent account, the drawdown did not exceed 5 percent. Before starting work, I recommend conducting a detailed test with a minimum lot on a cent account. Thanks for your attention, good luck!