Freedom Advisor
Any trading Forex strategy requires strict adherence to the rules it sets out. However, human error can significantly distort the testing results of even the most profitable trading strategy.
This is why strategies with excellent backtesting results can often produce completely opposite results when used in real time by a trader.
The only way to solve such a problem is to eliminate the human factor by creating an automatic algorithm.
The Freedom Advisor is a trading expert that was developed based on the famous Freedom trading strategy.
It's worth noting that the Freedom robot was never a commercial product, and its creation was only made possible by enthusiasts and followers of the Freedom strategy.
They openly collected money to pay for a programmer's work on one of the forum threads, after which they shared the development with the public.
Installing the Freedom Advisor
If you want to use the advisor, you will need to download the expert file at the end of the article and a special custom indicator, then install it in the MT4 trading terminal.
It is very important to install both downloaded files, since without the custom indicator the advisor will not open positions.
Installation of the Freedom Advisor follows a standard procedure and is no different from installing any other expert advisor. Specifically, you'll need to copy the downloaded files to the appropriate folders in the terminal's data directory.
To open the data directory, launch your MT4 trading terminal and click the File menu in the upper left corner. Then, in the list of options that appears, find the line "Open Data Directory" and launch it.
After launching the directory, a list of the platform's system folders will be displayed on your monitor screen. Among them, find a folder called expert and drop the Freedom advisor file into it. Also, find a folder called indicators and drop the custom indicator into it.
Next, for the terminal to see the installed files, you must either restart it or update it in the Navigator panel. After the update, Freedom will appear in the list of advisors, and to start automated trading, simply drag the expert's name onto the selected position currency pair.
Trading Strategy Settings
The Freedom advisor is based on a simple indicator strategy. The advisor makes position opening decisions based on the custom IND BBand indicator, which is an arrow indicator.
The advisor also features the ability to track trends using three moving averages with different periods, allowing you to find excellent entry points into the market after a pullback.
The position is closed either at pre-set profits and stop orders, or when the IND BBand indicator arrow appears in the opposite direction.
The expert advisor settings contain many variables that allow you to customize the robot to suit your trading style.
So, in the "Leght" row, you can change the period of the IND BBand signal indicator, and in the "Devation" row, you can set its deviation. In the "USEMA302012" and "USEMA200" rows, you can enable or disable the moving average trend filter.
You can change the moving average periods in the MA1,2,3,4Period variables. In the ClosePosIfBBandChange line, you can enable or disable closing a position when the IND BBand indicator signal redraws.
In the Reverse Signal line, you can enable position reversal; when a signal in the opposite direction occurs, the trade will be closed and opened in a new direction.
If you want positions to close based on a profit or stop order rather than an opposite signal, specify their values in the TakeProfit and StopLoss lines. You can set the static lot size in the Lot line.
Testing the Advisor
To test the advisor's potential, we decided to test it with default settings on a five-minute chart of the EUR/USD currency pair for the entire year of 2016. The results of the preliminary test in the strategy tester are below:
As you can see, despite the fact that the default settings at this stage are clearly outdated, the expert was able to successfully complete the allocated historical section and earned about 20 percent profit.
We also decided to conduct testing with the moving average trend filter enabled, and you can see the test results below:
In conclusion, it is worth noting that the Freedom advisor is a promising robot, since even with outdated settings and without any dangerous capital management systems was able to generate profit.
However, for the robot to be successfully used, it needs to be optimized and then tested more thoroughly on various currency pairs and time frames.
Download the Freedom Advisor
