Expert Advisor Otkat

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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.

Warning! The latest backtest of this expert advisor on the period from 2006-11-19 through 2020-01-27 has shown a complete account wipeout.

Do not run this EA on a live account! Use for educational purpose only. The backtest results presented below are outdated.

The back-test of the Otkat MetaTrader expert advisor on the 3-year period showed the following results with H1 chart of the 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.

This EA is ECN-compatible. You must set ECN_Mode input parameter to true in order to enable ECN-compatibility for this expert advisor. Otherwise, you will most likely be seeing OrderSend Error 130 messages when EA will be trying to open positions. This is because, if you are trading with an ECN broker (with market execution for orders), you cannot set SL/TP on position opening. You have to open a position first without SL/TP and only then modify it, adding stop-loss and/or take-profit level.

Downloads

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.

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    Binarium

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  • FinMax
    FinMax

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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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Otkat Expert Advisor for Metatrader

This is an expert advisor that is based on the pull-backs (reversals) produced in intraday trends. In this case, the entry conditions are based on the maximum and minimum of the daily range of the trend and buy signals are generated near the lower half of the range while sell signals occur near the upper half of range.

This EA uses stop loss levels and take profit in addition to position closing by time. It open positions only at the beginning of the day but no trades are made during the days Monday-Sunday and Friday-Saturday. The positions closing occurs at the end of the day. For the EA work properly, the trader must set the parameter Server_GMT_Difference with the same time zone of the Metatrader´s server of the trader.

Performance analysis made with the Otkat show that the best results are obtained in the EUR/USD with a time frame of one hour and a position size of 1 lot. This EA performs winning trades 90% of the time, however each losing trade lost on average five times more than a winning trade.

  • It uses a fixed stop loss of 51 pips while the take profit is just 8 pips.
  • In its optimal configuration in the 1 hour chart for the EUR / USD, this EA opens on average one position per week.
  • It is necessary that the traders configures this EA with the time zone of their Metatrader´s server.

Below are the parameters and results for this EA:

  • Stop Loss: 51 pips.
  • Take Profit: 8 pips.
  • Currency Pairs: All.
  • Time Frames: 1 hour.
  • Best results: EUR / USD with a time frame of one hour.
  • Percentage Gain: 90%.
  • Maximum Drawdown: 10%.

Note: This EA is compatible with ECN brokers.

You can download this Expert Advisor for Metatrader using the following link:

1_Otkat Sys. – expert for MetaTrader 4

Author: not specified

The 1_Otkat_Sys Expert Advisor.

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/7862

The MDAC indicator by Elder

The script closes all open positions and opens new one with the difference of Buy and Sell lots.

The 3_Otkat_Sys_v1.2 Expert Advisor. The system is configured for 5 hours (Moscow Time), does not trade on the nights of Monday and Friday.

The EA suggests the optimal lot size depending on the deposit size.

Los mejores corredores de opciones binarias 2020:
  • Binarium
    Binarium

    1er lugar! El mejor broker de opciones binarias!
    Ideal para principiantes! Entrenamiento gratis! Bonos de registro!

  • FinMax
    FinMax

    Broker honesto!

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