Trading Robots for MetaTrader 4
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MetaTrader 4
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Overview
Ophiuchus is the 13th zodiac and it is also the name for this EA as 13 is the key elements for this trading strategy.
Trading Strategy
The following are the main characteristic of this EA.
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Martingale based strategy.
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Only open more trades when it is on the right direction.
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earn small profit for each trades but a lot of volume everyday.
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Profit from the volatility of the market.
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Tested and Proved to be able to profit on EURUSD trading with M1 timeframe.
Back Test Result
Back test result are as following
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Back test from 1 Jan 2017 till 1 July 2020 (42 months) with starting capital of USD 2000.
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Total Net Profit USD 13,949.51 with total 21778 trades.
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Average monthly profit USD 332 ( ~ 16% return per month).
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You can refer the back test video here.
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Live Account performance are tracked via myfxbook . You can see exact trade history from past and current trade via myfxbook. Go to myfxbook and then search for "Ophiuchus" and then click on Systems tab (not the user tab). You will be able to see Ophiuchus trading system performance there. (We can't post myfxbook link here).
Available Setting
Profit Target for each Order - Profit target in fractional pip for every open order.
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Starting Lots - The lot size for first order. The lot size will increase in the subsequent order.
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Maximum # of trades - Maximum number of orders the EA allow to open.
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Max Spread Allow - Only will open order if the spread is within this value.Change it based on your broker's spread.
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Enable Last Trade - If this is enabled(set to true), no new order will open after the chain of orders are closed. Handy when you want it to stop trading after the current orders are closed.
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Magic Number - Unique identifier for orders traded by this EA.
Recommendation
For the setting, use the default setting except the starting lot.The starting lot will depend on your capital. If your capital is USD 2,000, you need to start with 0.01. If it is USD 20,000, you can start with 0.1. You can also use cent account or micro account to start with small capital.
The starting lots must CHANGE based on your capital using above ratio.
For the max spread allow, you can configure based on your broker's spread range.
As this is high frequency trading, you need to use a broker account that has no commission charge. If you can find forex account without commission charge and no swap charge, then it is better.
In short, full recommended configuration are as following.
- Use broker with no commission charge
- Preferably with no swap fee too
- Starting Lots must change with this formula - Starting Lots = Capital / 200,000. Eg, Capital = USD 2000. Starting Lots = 2000/ 200,000 = 0.01. You must use at least 200,000 as minimum ratio. You can choose to use higher number like 300,000 or 400,000 for safer configuration. Safer configuration means lesser profit too, but you will have lesser chance to have margin call. You will need to balance between profit and safety yourself.
- Leverage must be 1:500 or above
- Can run on Cents account or Micro Account if you want to start with smaller capital.
- Run this EA on EURUSD on M1 timeframe. I received feedback from other users that it works great on other currency too, but do test it yourself with own risk.
There is no unlimited version for the time being and with this version, you can start this EA with a cheaper price by renting it.
Alternative of running the EA on your machine for 24 hours, you can also opt to purchase the trading signal of Ophiuchus here -> https://www.mql5.com/en/signals/806339. You can save the hassle for the setup and running it 24 by 5 trading day. You can verify the live performance of Ophiuchus from the trading signal performance.
If you have any question or would like to follow the update/progress on Ophiuchus or my Upcoming EA , you can follow the FB page here or PM me there.
Warning!
This is high risk trading and you might lose all your capital in your account, please make sure you start with amount that you are comfortable with. Try this with your own risk and no one will be responsible for your loss.
Hope you like this EA! Please leave me some comments if you like this EA as your recognition means a lot to me.
Happy trading and may the force be with you !
Update 27 March 2022 -> We added AUDCAD Support on 3.2 version.
Update 11 Jan 2024 -> Now we have Ophiuchus MT5 version with avoid trading on news feature, which the EA will automatically stop trading before high volatile news announcement to avoid high volatile period and reduce the risk. This MT5 version is not available on mql5.com but it is available on at Limitless Trading
