Inputs used in expert advisor

• EMA and Bollinger bands trend filter: BB tunel must close below the EMA line, for short entry and vice versa for long entry. In ranging market EMA will remain within BB tunnel and we will avoid entering any positions. Adjust EMA period , BB deviation and BB period to modify experts sensitivity to trend and its ability to filter out the ranging conditions (EMA remains in BB tunnel).
• Signal candle size max/min. Signal is also based on wide bullish/ bearish candle. We define its body size. Larger the candle, more momentum is present in the trend. Signal candle must close in the direction of trend defined by the trend filter.
• Volumes: Volume value of signal candle (breakout candle) must be larger than on previous candle.
• Adding to winner module (pyramiding logic):
• Buy: If trade exists, new trade can only be opened if: current price is greater than first position entry price+(number of opened long trades*pyramiding step input)+pyramiding step.
• Sell: If trade exists, new trade can only be opened if: current price is less than first position entry price-((number of short opened trades*pyramiding step input)+pyramiding step).
• Pyramiding step input: Distance between consecutive pyramiding trades in points. Each trade will opened on new candle open. If one candle covers distance equvalent to two or more pyramiding steps, more than one trade can be opened on same price level (but only on new candle open). Modify this input down for increased aggression of pyramiding.
• MAX number of trades (10in test): Expert advisor can work with more than one trade opened per side. This parameter will modify number of trades that can be opened per side at the same time.
• Closing module for profit: Expert will close all existing trades at once as soon as the overall account profit reaches target profit. Use only on one currency per account and do not open any other positions. Modify targets proportionally with lotsize (in account currency).
• Universal trailing stop (Extra deviation for the trail stop). TS is adjusted after each candle close. It is based on bollinger bandsline that just got penetrated.TS will be adjusted in the direction of winning trade only. Extra deviation can be applied to cover more distance (EA will be better able to follow the trend).
• Magic number buy/sell: Not applicable in this expert advisor. Do not use on more than one currency per account and do not open any other trades (expert is closing trades based on equity).
• MAX slippage:
• Spread filter:
• Lot size:

Rules of the expert advisor

SELL

1. Upper Bollinger band trending below EMA line. Downtrend is present in the market. Enter short only.
2. Signal candle closing below bottom BB band.
3. Signal candle close in the direction of trend (min/max body size defined).
4. Volume on signal candle is larger than on previous candle.
5. If trade exists, new trade can only be opened according to adding to the winner module criteria.
6. We enter short on signal candle close.
7. Trailing stop is placed at bottom BB + extra deviation applied on trailing stop (inputs).
8. We close all existing short trades at Target profit/Trailing stop.

BUY

1. Bottomr Bollinger band trending above EMA line. Uptrend is present in the market. Enter long only.
2. Signal candle closing above upper BB band.
3. Signal candle close in the direction of trend (min/max body size defined).
4. Volume on signal candle is larger than on previous candle.
5. If trade exists, new trade can only be opened according to adding to the winner module criteria.
6. We enter long on signal candle close.
7. Trailing stop is placed at upper BB – extra deviation applied on trailing stop (inputs).
8. We close all existing short trades at Target profit/Trailing stop.

Test Results (Tick EURUSD 1H, 2003.01.01 - 2016.11.24)

Bars in test 86731

• Ticks modelled 136095453
• Modelling quality 90.00%
• Mismatched charts errors 0
• Initial deposit 2000.00
• Spread 10
• Total net profit 5318.04
• Gross profit 37865.77
• Gross loss -32547.73
• Profit factor 1.16
• Expected payoff 2.83
• Absolute drawdown 80.07
• Maximal drawdown 1614.34 (20.26%)
• Relative drawdown 30.27% (1333.90)
• Total trades 1880
• Short positions (won %) 937 (50.69%)
• Long positions (won %) 943 (49.95%)
• Profit trades (% of total) 946 (50.32%)
• Loss trades (% of total) 934 (49.68%)

Expert advisor is based on transparent and fully tested forex strategy.

Original and transparent MT4 expert advisor. Developed and created by professional FOREX traders at kingsraid.wiki . Tested for profitability on EURUSD tick data since 2003. Thousands of viable input combinations available for EURUSD alone. Works with any timeframe and any FX pair.

Main features of this expert advisor:

• Tested on high quality tick data: High accuracy testing on EURUSD tick data (1H). 100+ Viable inputs combinations for EURUSD pair alone.
• All inputs unlocked: You can adjust and modify your expert inputs. It can be then applied on any time frame and any currency pair. You can modify the settings at will to achieve the best possible results and make the expert suit your needs.
• Transparent expert advisor: No smoke and mirrors. Rules are clearly stated and functionality can be easily verified by manual charting on forward or historical data.
• Works with most of the MT4 Forex brokers: Our expert advisors were adjusted to work with almost any MT4 FOREX broker.
• Works with any time frame: Simply drag and drop the expert on time frames you would like to use.
• Works on any currency pair
• Expert advisor will not draw any indicators in your chart.

Disclaimer and user agreement:

Expert advisor was tested for profitability on historical data. All screen shots provided are displaying real results of the test. However past data will never guarantee future success. Every expert advisor needs to be tested properly on demo account. LIVE use only on your own risk. Read full disclaimer. TheForexKings Team does not give any financial advice. TheForexKings does not take any responsibility for any user’s investments and investment decisions. All rights reserved. Strictly for personal use.