The EA focused on intraday short term trade and place pending orders at possible break out levels.
No Grid, No Martingale, No over-optimization.
In merged 5 years' tickdata backtest, there are almost 200% yearly return with fixed 1 lot per trade for $10k balance.
The number of maximal drawdown is only $748, below 10% of the initial deposit.
Tickdata Backtest for EURUSD, GBPUSD, USDJPY and XAUUSD from 2013
1. Lot Size:
Fixed 1-2 standard lot for every $10K Balance is preferred, please well control the risk.
2. Smart Trend Detector:
This could help the EA to detect the trend direction of very short term period.
If a possible trend reversal is detected, it will exit the trade no matter win or lose.
I strong recommended to select "true" of the "Use Smart Trend Detector step 1-6".
3. Forward test:
Because the EA place pending orders, you could download previous day's tickdata everyday.
In backtest, if the pending orders have the same levels with the real account for 10-20 days, then we should believe the EA could work.
Also we should believe the backtest report is reliable.
But there must have some difference about the order execution in different brokers.
4. What will affect the order execution?
Slippage and sudden spread spike.
Higher spread always happens when some data release, such as NFP, FOMC, ECB... In this case, the market always in high volatility, Theoretically it will not affect much to the result.
However, I still recommended to stop the EA running during some Key risk event, such as Brexit vote.
Generally, the order sent from MT4 broker server to LP (Liquidity Provider) server needs some time.
During this progress, we may have 1-3 points slippage, but maybe negative or positive.
If we keep having negative slippage in a broker, there must have some issue with their system.
Please note that for pending orders, the slippage could be detected in a visual mode.
But it does not mean that slippage does not happen in market orders.
So a broker with lower slippage is very important.
For example, broker A and broker B have the same spread and commissions, But in broker A , the avarage slippage is 3 points per trade, In broker B, the avarage slippage is 6 points per trade.
If we have 1000 trades per year, then we have to pay additional 300 pips in broker B.
The total trading cost is increased significantly!
6. How much Slippage could your EA afford?
According to our research based on historical data from 2003, the EA could afford
3.4 pips per trade for EURUSD
3.1 pips per trade for GBPUSD
2.9 pips per trade for USDJPY
$0.66 per trade for XAUUSD
As long as your total trading cost is below these level, the EA should be rofitable.
(Including spread, commission, slippage)
I believe this will match the trading conditions in 90% brokers.
However, about the spread and the slippage, the lower the better.
7. Broker testing:
If you are interested, for any brokers, you could try this to test:
In a real account, if EURUSD spot = 1.1400, you could place pending orders:
0.01 LOT buy stop 1.1405 sl 1.1403 tp 1.1407; 0.01 LOT sell stop 1.1395 sl 1.1397 tp 1.1393.
When the order is filled and closed, you could take a look on the log file to see details.
After 20-40 orders in different days, you could know whether their slippage is good.
8. A VPS must be needed to run the EA.
To further protect the source code of the EA, there are several DLL files included in the installation files.
Metatrader VPS does not support DLL uploaded.
9. Recommended Broker:
After the EA released, I tested 10+ brokers.
Among which, Pepperstone, Tickmill, Infinox are the best.
There are almost zero slippage could be detected in most of the orders in them.
Other brokers, such as LMAX, Dukascopy, ICMarkets, all have good reputations, I believe the EA could also work well.
10. EA Parameters:
①MoneyManagement: select true or false, false = fixed lot size.
②TradeSizePercent: from 1% to 100%, according to your risk appetite
③Lots: if Management is false, then set the fixed lot size here
④MaxLots: This is the limitation of max lot size if Management is true
⑤Magic: set it according to your habit
⑥Use Smart Trend Detector step 1 : Please select true, default is false
⑦Use Smart Trend Detector step 2 : Please select true, default is false
⑧Use Smart Trend Detector step 3 : Please select true, default is false
⑨Use Smart Trend Detector step 4 : Please select true, default is false
⑩Use Smart Trend Detector step 5 : Please select true, default is false
⑪Use Smart Trend Detector step 6 : Please select true, default is false