Boomerang Advisor
Advisor Boomerang - this unique development comes from 2008, which was actively sold
for $300.
Many buyers of this miracle were very pleased with this purchase, since at that time Martingale was just entering the peak of its popularity in the Forex market, and experts with their inflated profitability simply could not help but surprise.
Now, when hundreds of advisors on various trading tactics are freely available for free, it’s hard to surprise anyone, and Martingale is becoming more an object of contempt than surprise.
The Boomerang Expert Advisor is a fully automatic advisor that contains fairly simple trading tactics based on the EMA indicator with a period of 18 and the RSI indicator. There are two freely available versions of this robot, an older and a newer one.
The difference is that in the new version, in addition to the EMA trend filter, the developers introduced the RSI indicator , and also made the robot more resistant to communication breaks with the broker and interruptions in operation.
If the old version had a regular martingale, then in the new version the process of increasing positions occurs using pending orders, which made the adviser more resistant to unexpected shutdowns of the terminal. The advisor is designed for trading on major currency pairs on hourly and four-hour charts.
Installing Boomerang
Boomerang is a proprietary development, so in order to test the advisor and start actively using it in trading, you should install it in the MT4 trading platform. To do this, download the archive containing the advisor and place it in the expert folder of your terminal.
It is very important to place the advisor not just in the expert folder, but to do this through the data directory, which you can open in the file menu. After you have installed Boomerang in your terminal, you need to update the platform in the “Navigator” panel, after which it will appear in the list of advisors.
For an expert to start trading, simply drag it onto the chart of the pound/dollar currency pair on the hourly time frame .
Boomerang advisor settings
The developers of the expert invested as much as possible in the settings for capital management, but did not provide the opportunity to customize the parameters for entering a position.
The CenOpenNew line enables or disables the operation of the advisor.
In the Time Frame line, you must specify the time frame in minutes on which the advisor will work. You can also enable an email notification if a trade is opened by the Boomerang advisor.
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 by hand, while assigning a special number to its transactions.
Since the EA's strategy is martingale, you can set the maximum number of simultaneously open trades in the Orders Count line.
In the Level line, the distance in points between the expert's pending orders changes.
The lines Ord 1-10 Lots specify the lot size for each position. Thus, you can directly influence the lot size of each open leg in the network of pending orders.
If you enable the infoOn function in the settings, the advisor on the chart will display information on your balance, funds, leverage, minimum deposit amount per lot , spread and slippage in yellow letters.
Boomerang testing
To be objective, you should understand that the strategy and settings of the advisor may be very outdated, so the result of testing in the strategy tester cannot be taken seriously.
However, we decided to test it on the GBP/USD currency pair with default settings for the period from January 1, 2015 to March 10, 2016. The test result on the hourly chart is shown in the picture below:
The growth curve of the balance, although tortuous, is clearly directed towards the upper right corner. During this test period, the advisor traded 5 percent of the deposit, and this despite the fact that the maximum drawdown recorded during the entire operation of the robot did not exceed three percent.
The second test was carried out with default settings for the same long period, but only for 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 brought a loss of 20 percent of the deposit, despite the fact that the maximum drawdown reached 33 percent.
In conclusion, I would like to note that today the Boomerang advisor is simply not capable of generating profit without additional optimization and parameter settings, and a successfully passed test on GBP/USD with a return of only 5 percent of the deposit for 15 months further confirms our statement.
Therefore, if you decide to use the expert on a real account, we recommend optimizing such parameters as Level and Ord 1-10 Lots.