Features
- Extraordinarily robust (wide range of settings produces positive results over long testing periods during optimizations and across different broker feeds and time frames).
- No martingale or other suspicious/dangerous MM.
- No suspicious drawdowns. Standard broker stop-loss placed on all orders.
- No hard-coded tricks.
- No worries of order delays, this EA uses stop entries only.
- Settings working across multiple time frames nicely.
- Set your own risk to reward.
- Very simple and safe money management.
- Backtesting custom optimizations. This EA is a powerful tool that will probably live forever in your trading arsenal. [MetaTrader 5 version only]
- Less than 1/3rd of the price of other incredible EA's!
Description
This EA is designed to play channel breaks on M5. It has a unique way of calculating the channel as well as many extra settings.
Money management is simple. Just use the risk setting to set the % of your risk on each trade or set to standard lots.
I will be using this EA on my own live account but I don't have much initial capital, so I will sell some copies of this to give my trading account a little boost. I will take it down when my account is adequate (or at least raise the price), so act soon!
I have screened the first optimization over a 10 year period. The report has an extra year in front (that it was NOT optimized for) and a 1 year forward test (2013). Default settings are from a more recent option noted in the Comments area. Check the comments for more screenshots, settings and reports.
Settings
- MINSWINGOUT - Level of swing point protrusions
- MINSWINGSPACE - Bars minimum between swing points
- MAXSWINGSPACE - Bars max between swing points
- MINSWINGS - Min Swing points to define a new channel wall
- MAXCHANNELWIDTH - Max Channel Width
- ALLOWANCE - Level of imperfection allowance for swing points
- CHANNELBARS - Channel Length
- STOP_LOSS - Stop Loss
- TAKE_PROFIT - Take Profit Target
- CORE_LEVEL - Core level of the channel
- TRAILING_STOP - Step of moving Stop Loss
- ORDER_STEP - Step of moving of order
- CUSION - cushion for stop entry orders (can be negative)
- SLIPPAGE - Slippage
- LOT - Lot size in either percent or standard lots
- LOT_TYPE - Type of lot size
- NOCHANNELBARS - Bar count before all pending orders are deleted during No Channel detection
- MAGIC_NUMBER - Unique number of the Expert Advisor
- TesterMinTrades - minimum trades. Tester will severely penalize the custom score of runs with fewer trades
- TesterSharpWeight - weight of the Sharp Ratio within the custom score
- TesterDDRatioWeight - weight of the drawdown to profit ratio within the custom score
- TesterPFWeight - weight of the Profit Factor within the custom score
- TesterProfitweight - weight of the Profit per year within the custom score
- ScoreMultiplier - multiply the custom score result in case it is too small to read within the results
Optimization
Please read all MetaTrader 5 documents regarding curve fitting and backtesting. Always check across data feeds, pairs and timeframes. Please check the comments area for more tips on optimizations, settings, reports and screenshots.
The following settings result in 95% profitable passes right from the start (even before the genetic algorithm kicks in) on EUR-M5 over 5 years from 2009.....which is what caused me to fall out of my chair! Most of these are also passing forward tests!
- MINSWINGOUT: 5-200/5
- MINSWINGSPACE: 50-200/10
- MAXSWINGSPACE: 150-2000/25
- MINSWINGS: 2-3/1
- MAXCHANNELWIDTH: 300-2000/25
- ALLOWANCE: 2-20/2
- CHANNEL_LENGTH: 350-2000/25
- STOP_LOSS: 10-50/5
- TAKE_PROFIT: 150-400/25
- CHANNEL_CORE: 50-100/5
- TRAILING_STOP: 40-200/10
- STEP: 1
- NOCHANNELBARS: 10
- CUSION: -8-+3/1
- Min Trades: 450
The tester will sometimes fail at OnInit as there is a filter to block some passes of certain combinations of settings which are guaranteed not to produce any trades, such as the core being larger than max width etc. So, don't be alarmed at some OnInit errors during optimizations. The errors are speeding up the process and saving you CPU.
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