The next Expert Adviser that we are going to observe is used by JPAlonso – El Trader (EURUSD, 1 hour). This participant is on the first place of the temporary standings. He has current results around 76k.
Due to a technical problem, the expert began working until October 8 and yet it is leading in the championship standings. By the transactions and the four words of the expert description, we see that the participant uses market orders that are against the trend. All orders have StopLoss around 77 and TakeProfit at 127.
Besides, it appears that the expert is constantly in the market, which in its turn means that it is used only one indicator that can accept two values- up or down.
Upon exiting from the market, this indicator is checked. Then the trading system re-enters the position, depending on the indicator’s values.
Such index may be a Moving Average, according to which you sell when the price is above and buy when the price is under it. But as we see on the picture, this could not explain the third deal that is buy.
If you play a little with the parameters, it is possible to find such parameter on Moving Average of 27, but even then the concerned third deal is back on the edge.
Based on our experience with similar systems, there is a great chance to come for an adaptive indicator like this one:
As a final observation we may say that the expert advisor works as follows:
- If there is no open position, the trading system checks the status of the indicator according to the price and if the price is above the line, it opens Sell. If it is under the line, it opens Buy.
- An exit is TakeProfit 127 or Stop 77.
- After exiting, a position check is being made for the price in relation to the indicator line, then it follows a re-entering.
This is an Expert Advisor that works in relation to the idea mentioned in the article above. This is not an exact copy of that Trading System, it rather reflects our own approach and reveals the basic concepts of the participant’s method in this particular Automated Trading Championship.
If you start the Expert Advisor from the same starting date time as the participant you will get the same results.
Using this Trading system can be very tricky, because its start time is very important and will affect all the results.If you start the system at different time you will get completely different results.
Here is the backtest from 09.09.2011
The Expert Advisor that we offer works on MT4 with EURUSD, using H1 period.
If you want to test the EA and receive similar results, please use the Metaquotes demo. Different brokers have different time and prices and this system is really very sensitive about that.
If you look for profitable EA that works in a long run, please do not buy this one. Download it only if you are interested to understand the idea, possess basic mql4 skills and know how to test it properly.
You can Buy our Expert Advisor here :
The mql4 codes that are available for purchase have the single purpose to visualize the basic idea of the participants in Mql5 championship. Through them, you are able to conduct tests, using data similar to those of the competition. At first, your broker quotes should be with the same server time (time zone), as those of MetaQuotes. Of course, most systems are optimized exactly for MetaQuotes.
Although the biggest part of the trading systems in this championship are designed to win the competition, in a large extent they rely on luck and aggressive Money Management. However, in most of them, there is a little bit good idea, which keeps them relatively long time in front places. Through these codes, we aim to make you find something that suits to your own style of trading. If you choose to use them in this shape for a real trading, this would lie at your own risk. Our recommendation is to use these codes only as a source of ideas.
Expect more analysis and comments on the Automated Trading Championship 2012.
Amazing and detailing analysis. I was wandering if you also could analyse players who have realy good recovery factor: www, JJerboa, cplayer, oval, zrn
Response: Next week expect analysis for www (www_2012exp) EA. Really interesting expert.