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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/Sundays
and Fridays/Saturdays) and closes them at the day's end. You need to set
Server_GMT_Difference parameter to your MetaTrader server's timezone for the EA
to function properly.
The back-test of the Otkat MetaTrader expert advisor
on the 3-year period 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.
How to set Server_GMT_Difference parameter correctly?
Set it to your MetaTrader server's timezone. For example, if your MetaTrader
server's timezone is GMT-5 (New York time with DST off) set this parameter to
-5.
Downloads
Download Otkat expert advisor for MetaTrader 4
Download zipped Otkat expert advisor for MetaTrader 4
Download Otkat expert advisor for MetaTrader 5
Download zipped Otkat expert advisor for MetaTrader 5
Discussion
Warning! Before you ask any 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 Otkat with other traders and MQL programmers on the experts forums.
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