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Otkat Expert Advisor
Otkat Forex expert advisor is based on the range pull-backs
in the intraday trends. The entry conditions are based on the range low and high
points with the buy signals generated near the lowest half of the range and the
sell signals generated near the highest half of the range. The expert advisor
uses not only take-profit and stop-loss levels but also exit by time. It enters
the positions only at the beginning of the day (it doesn't trade on Mondays and
Fridays) and closes them at the day's end.
The back-test of the Otkat MetaTrader expert advisor
on the 3-year showed the following results with EUR/USD currency pair and 1.0
standard lot volume per position — $7,940 net profit on $10,000 starting
account with the maximum relative drawdown at 14.06%. Due to the nature of its
optimal settings, this EA will win almost 90% of the trades, but the average loss
is more than 5 times greater than average profit.
MiniFAQ
What are the stop-loss and take-profit used by this EA?
It uses the fixed stop-loss level of 51 pips and the fixed take-profit level
of 8 pips. Note, that it's better to set even lower take-profit, if only your Forex
broker allows that without generating OrderSend Error 130.
How often does it trade?
On hourly EUR/USD chart (the optimal settings) this EA will trade
once every week on average.
Download Otkat expert advisor
Download zipped Otkat expert advisor
Do you have your own trading results or any other remarks regarding this
expert advisor? Don't hesitate to contact me.
Discuss Otkat with other traders and MQL programmers on the experts forums.
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