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Information

Experts
MetaTrader 5
Jan Birger Heldt
1.1
5

Overview

Introduction

This EA is trained to trade the pair USDCAD on 1-hour candles.

Feel free to contact me for a price quotation for a customized EA for this or any other pair, commodity or stock indices.

Input properties and default values:

  • "BuyAllowed": true
  • "SellAllowed": true
  • "MaxLotPer1000Equity": 0.075 
  • "MaxAllowedSpread": 15
  • "MaxNumberPositions": 4
  • "ServerFirstTradeHour": 6
  • "ServerLastTradeHour": 17

 

Back-testing: USDCAD

  • Dynamic lot size, at most 0.075 per $1.000 equity
  • 1 Hour candles
  • Account currency USD
  • Leverage 1:100
  • Period 2021-02-01 -- 2021-12-23
  • Maximum spread 15 points
  • Server ping 106 milliseconds
  • Broker: ICMarkets EU
  • Open position hours: last hour of the Asian market, the European market, first two hours of the U.S. market
  • 470 positions, win rate 100%
  • Maximum balance drawdown 0,08%
  • Maximum equity drawdown 4,8 %
  • Initial balance $20.000
  • End Balance $53.402: Net profit 167%

Only use brokers with low to zero spreads and fast/stable server connections.

Current back-testing/training period reflects the current and still very challenging market conditions caused by the Covid pandemic. It has not been back-tested/trained on the 2017–2020 period that saw further market further turmoil caused by the initial Covid outbreak phase, trade wars, Brexit talks, election events, etc., hopefully not to be repeated. It must be stressed that past trading success does not guarantee future success.

Users can deactivate the EA from opening positions by changing the input properties “BuyAllowed” and/or “SellAllowed” from “true” to “false”. This stops new positions, while the EA continues to manage open positions.

 

Account currency: USD

By using USD as account currency, the equity, margin and free margin are not influenced by the exchange rate between a non-USD account currency and USD: if a non-USD account currency drops vis-à-vis USD, you might experience margin calls when trading USDCAD.

 

Trade sessions

In its default settings the EA opens positions the last hour of the Asian session, the European session, and first two hours of the U.S session. It manages existing positions 24/5. Since the sessions have different dynamics, it is advised against changing the input settings "ServerFirstTradeHour" and "ServerLastTradeHour" from their default values, which apply to ICMarkets EU. Check the USDCAD server time zone of your broker to correctly set the server hour input settings.

 

Lot size

Default maximum lot size is 0.075 per $1.000 equity. Maximum lot size per $1.000 account equity can be changed with the input property “MaxLotPer1000Equity”.

 

Number of allowed positions

For any 1-hour candle, the EA might open one or two different buy positions, and/or one or two different sell positions. Default maximum number of positions is 4, which can be adjusted by the input property "MaxNumberPositions".


Stop loss and take profit

Take profit levels are calculated for each position. Stop loss/take profit levels can be adjusted manually once a position has opened, but the EA applies a trail stop that might override your stop loss changes. Under some conditions the EA will adjust the take profit levels downwards. 

  

Manage risks: "fastest way to succeed is to go slow"

Back-testing reflects an “orphaned” EA trading without human intervention. However, no algorithm can predict/properly respond to every event. It is advised to use any EA as an “Advisor” with the owner ready to override it as required.

It is prudent to close positions manually if deemed sufficiently profitable or incurring acceptable losses and it is believed that losses might increase if positions are not closed. It is also prudent to manually deactivate the EA’s buy/sell functions if it is believed that the USDCAD rate is nearing a peak or a low, or when market volatilities are taking place/expected. For instance, every Thursday and the first Friday of the month, the U.S. releases economic statistics at 08.30 eastern time that often cause price swings. EA users should be cautious around those and other report hours, major holidays and end of year, and keep abreast of market news and the "calendar" in MT5. Finally, do not over-leverage to enable large lots and expected quick large profits. Work long-term, patiently, with low leverage and small lots


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