Boomerang Advisor
Boomerang Advisor is a unique development from 2008 that was actively sold
for $300.
Many buyers of this miracle were very pleased with this purchase, since at that time, the martingale was just entering the peak of its popularity in the forex market, and experts with their inflated profitability simply could not help but amaze.
Nowadays, when hundreds of advisors on various trading tactics are freely available, it's hard to surprise anyone, and martingale is becoming more of an object of contempt than surprise.
The Boomerang Expert Advisor is a fully automated EA that features a fairly simple trading strategy based on an 18-period EMA and RSI. Two versions of this robot are freely available: an older version and a newer version.
The difference is that in the new version, in addition to the EMA trend filter, the developers have implemented the RSI indicator , and also made the robot more resilient to connection interruptions with the broker and interruptions in operation.
While the old version featured a standard martingale, the new version uses pending orders to expand positions, making the EA more resilient to unexpected terminal shutdowns. The EA is designed for trading major currency pairs on hourly and four-hour charts.
Installing Boomerang
Boomerang is a proprietary development, so to test the EA and begin actively using it in trading, you need to install it on the MT4 trading platform. To do this, download the EA archive and place it in the "expert" folder of your terminal.
It's crucial to place the advisor not simply in the Expert folder, but through the data directory, which you can open in the File menu. After installing Boomerang in your terminal, you need to update the platform in the Navigator panel, after which it will appear in the list of advisors.
To start trading, simply drag the expert onto the GBP/USD currency pair chart on an hourly time frame .
Boomerang Advisor Settings
The developers of the expert advisor have maximally integrated capital management settings, but still have not provided the ability to customize position entry parameters.
The CenOpenNew line enables or disables the advisor's operation.
In the Time Frame field, specify the time frame in minutes on which the EA will operate. You can also enable email notifications when the Boomerang EA opens a trade.
To do this, select True in the Send Email line. In addition to email notifications, you can enable or disable sound notifications in the Show Alert line. The Magic_N parameter ensures that the advisor does not touch orders opened by another advisor or manually, but it assigns a special number to its own trades.
Since the advisor's strategy is based on martingale, you can set the maximum number of simultaneously open trades in the Orders Count line.
The Level line changes the distance in points between the expert's pending orders.
Lines Ord 1-10 Lots specify the lot size for each position. This allows you to directly influence the lot size of each open leg in the pending order network.
If you enable the infoOn function in the settings, the advisor will display information on your balance, funds, leverage, minimum margin for one lot , spread, and slippage in yellow letters on the chart.
Testing Boomerang
To be objective, it should be understood that the strategy and settings of the advisor may be significantly outdated, so the results of testing in the strategy tester cannot be taken seriously.
However, we decided to test the GBP/USD pair with default settings for the period from January 1, 2015, to March 10, 2016. The results of the test on the hourly chart are shown in the image below:
The balance growth curve, although convoluted, points clearly toward the upper right corner. During this testing period, the EA traded 5 percent of the deposit, despite the maximum drawdown recorded during the robot's operation not exceeding 3 percent.
The second test was conducted with default settings over the same long period, but only on the EUR/USD currency pair. The expert's performance can be seen below:
On the EUR/USD currency pair, the advisor showed radically different results and resulted in a loss of 20 percent of the deposit, despite the fact that the maximum drawdown reached 33 percent.
In conclusion, I'd like to point out that the Boomerang advisor is currently incapable of generating profit without additional optimization and parameter adjustments. A successful GBP/USD test, with a return of only 5 percent of the deposit over 15 months, further confirms our assertion.
Therefore, if you decide to use an expert advisor on a real account, we recommend optimizing parameters such as Level and Ord 1-10 Lots.
