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myRandom Expert Advisor

myRandom Forex expert advisor is a purely experimental MT4/MT5 EA inspired by the seeming randomness of financial trading in general and Forex trading specifically. Of course, such approach goes astray with the dominant ideas of technical and fundamental analysis. Yet it can be considered as the only acceptable method for the believers in the random walk hypothesis.

This EA is very simple; it doesn't use any market indicators. The only condition it checks to decide the direction of the next position (buy or sell) is a random number — if it is an odd number EA goes short, if it's an even number EA goes long.

Input parameters

Main

  • RandomEntryPeriod (default = 1) — the number of bars the EA will wait to open a new position.
  • StopLoss (default = 1200) — the stop-loss value in pips.
  • TakeProfit (default = 600) — the take-profit value in pips.

Money management

  • Lots (default = 0.1) — the trade volume in lots.

Miscellaneous

  • Slippage (default = 3) — the acceptable price slippage in pips.
  • Magic (default = 794823491) — the Magic number for trades.
  • Commentary (default = "myRandom") — the commentary for positions opened by this EA.
 

Warning! Even though this EA has shown profitable results in a backtest from 2013-01-01 to 2022-05-02 on GBP/JPY @ H1, it is very risky as this expert advisor trades randomly . Do not run this EA on a live account! Use for educational purpose only. The backtest results may not be meaningful.

Despite its seeming uselessness the random Forex trading proved to be profitable on the backtesting performed in the strategy tester.

This EA is using a Magic number to track the number of currently open orders for the selected currency pair. So, it is safe to trade with it on multiple currency pairs/timeframes in one account.

Testing myRandom expert advisor over a 9-year period showed $7,146 profit on the GBP/JPY H1 pair/timeframe combination. The maximum drawdown was 26%. The EA traded about once per 2-3 months.

 

This EA is ECN-safe.You can freely use this expert advisor with ECN (market execution) brokers as it either does not apply any stop-loss and take-profit levels in its trading orders or sends only pending orders.

Download (ver. 1.03, 2022-05-02)

MyRandom expert advisor for MT4Download Zipped myRandom expert advisor for MT4Download MyRandom expert advisor for MT5Download Zipped myRandom expert advisor for MT5Download

Discussion

 

Warning! Before you ask basic questions regarding installation of the expert advisors, please, read this MT4 Expert Advisors Tutorial to get the elementary knowledge on handling them.

Do you have your own trading results or any other remarks regarding this expert advisor?

Discuss myRandom with other traders and MQL programmers on the experts forums.

Changelog

1.03 - 2022-05-02

  • Automated detection of the execution mode.
  • Fixed bug with TakeProfit input parameter not doing anything in MT5.
  • Added support for hedging mode is now supported in MT5.
  • Revamped input parameters.