Freedom Advisor
Any trading forex strategy requires strict adherence to the rules contained in it. However, the human factor can greatly distort the results of testing even the most profitable trading strategy.
This is why strategies with excellent backtesting performance can often produce radically 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 implemented based on the famous Freedom trading strategy.
It is worth noting that the Freedom robot has never been a commercial product, and its appearance became possible only thanks to enthusiasts and followers of the Freedom strategy.
Who quite openly collected money on one of the forum threads to pay for the programmer’s work, 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, and then install it in the MT4 trading terminal.
It is very important to install both downloaded files, since without a custom indicator the adviser will not open positions.
Installation of the Freedom advisor follows a standard procedure and is no different from installing any other expert, namely, you will need to dump the downloaded files into the appropriate folders in the terminal data directory.
To launch the data catalog, launch your MT4 trading terminal and go to the file menu in the upper left corner. Then, in the list of options that appears, find the line “open data directory” and run it.
Having launched the directory, a list of platform system folders will be displayed on your monitor screen, among which find the folder called expert and drop the Freedom advisor file into it, and also find the folder called indicators and drop the custom indicator into it.
Next, in order for the terminal to be able to see the installed files, it must either be restarted or updated in the “Navigator” panel. After the update, Freedom will appear in the list of advisors, and in order for it to start automatic trading, just drag the name of the expert onto the one you have chosen currency pair.
Trading strategy. Settings
The Freedom advisor is based on a simple indicator strategy. The advisor makes the decision to open a position based on the custom indicator IND BBand, which is a arrow indicator.
The advisor also has the ability to track the trend using three moving averages with different periods, which allows you to find excellent entry points into the market after a rollback.
The position is closed either according to predetermined profit 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 reconfigure the robot to suit your trading style.
So in the Leght line you can change the period of the IND BBand signal indicator, and in the devation line you can set its deviation. In rows USEMA302012 and USEMA200 you can enable or disable the moving average trend filter.
In the variables MA1,2,3,4Period you can change the periods of moving averages. In the ClosePosIfBBandChange line you can enable or disable closing a position when the IND BBand indicator signal is redrawn.
In the Revers Signal line, you can enable position reversal, namely, when a signal in the opposite direction occurs, the transaction will be closed and opened in a new direction.
If you want positions to be closed not according to an opposite signal, but according to a profit or stop order, indicate their values in the TakeProfit and StopLoss line. In the Lot line you can set the volume of a static lot.
Testing the Expert Advisor
To test the potential of the advisor, we decided to test it with default settings on a five-minute chart of the Euro/Dollar currency pair for the entire 2016. The result of the preliminary test in the strategy tester is shown 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 allotted historical section and earned about 20 percent of the profit.
We also decided to test with the moving average trend filter enabled, and you can see the test result below:
In conclusion, it is worth noting that the Freedom advisor is a promising robot, since even with outdated settings and without any dangerous money management systems was able to make a profit.
However, to successfully use the robot, it needs to be optimized, and then tested more deeply on various currency pairs and time frames.
Download Freedom Advisor