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Overview

 

  • This EA trades based off the Overbought and Oversold levels as determined by the Relative Strength  Indicator (RSI)  in MT4

  • The EA filters these Stochastic Level signals with a sophisticated Trend Filtering System. This includes optimizable short term and long term EMA filters, as well as a EMA Trend strength / slope function to help avoid flat markets.

  • It can be optimized and applied to any MT4 chart on any time frame.

  • The EA can be optimized for different RSI parameter values (K, D etc) as well as RSI Levels.

  • The EA has an allowed trade times function to filter trades according to different open market times.

  • The EA has complete money management features including risk (either fixed lot or percentage of account), and a Move to Breakeven function. The EA can set  Stops and Take Profit levels according to either fixed Pip values, or as a function of Risk:Reward (ie. Stop is at 1% (Risk) level, Take Profit can be any multiplier of the Risk for the trade)

  • The EA can place either Market orders or Pending Stop orders, allowing time to review setups before the orders are filled.

  • The EA has a confirmation function, which when turned off turns the EA into a sophisticated Indicator with Alert system.

Optimizations

 

  • Due to the high number are user defined inputs into the EA (depending on user preferences for trading time frames, trade frequency, expectancy, draw down tolerance, etc. Optimizations will be highly variable.

  • The EA can be optimized for high profitability, low draw down, high expectancy at the expense of trade frequency (higher quality setups happen less frequently which improves profitability but decreases trade frequency, and vice versa)

  • Patience is required to use this EA with higher profitability settings due to a lower trade frequency. This can be improved by running the EA with higher profitability settings on multiple charts and time frames.

  • The optimizations presented here will show this variability for one pair using strict filter options (improved set up quality) and also using less restricted filter options (improved trade frequency)

  • Users of this EA must create their own set files according to their trade style and preferences. WE DO NOT provide optimized set files. We can provide some  possible suggested set files to be used for optimizations for various time frames.

Optimizations were completed at 2% risk per trade, to show a worst case scenario from a Draw down perspective.  We don't recommend more than 1% risk per trade.

Optimizations were done over a 10 year period to cover multiple conditions.

Optimization show 3 examples

  • A higher trade frequency (lower quality setups with fewer filters engaged) , lower profitability optimization

  • A medium trade frequency optimization

  • A lower trade frequency (higher quality setups with multiple filters engaged), higher profitability optimization

Please note the consistent equity curve, low draw downs, and average wins vs losses in a row.

USDCAD 30 Min, 10 year, 2% Risk per trade

Optimized for higher trade frequency (relaxed filter settings)

 

USDCAD 30 Min, 10 year, 2% Risk per trade

Optimized for Medium trade frequency (medium filter settings)

 

USDCAD 30 Min, 10 year, 2% Risk per trade

Optimized for higher trade frequency (strict filter settings)

 

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