It is curious that most of those who got into the top 10 according to the results of the competition were used by Forex Academy advisors. The most popular was the ScalperGap. Alexander took second place and, as he himself said, Orachimaru helped him a lot in this. In October, Alexander’s contest account grew by 264%, we considered the result sufficient to draw attention to this EA.
The robot is free, you can download it at the end of the article. But first, I still recommend reading the review to the end. Below I will post a short video review of the robot.
Platform: Metatrader 4
Advisor version: 1.0
Currency pairs: no limits
Working time: unlimited
Robot type: martingale grid, constantly in the market
How market analysis is performed
An Expert Advisor from the category of grids, and even with the use of martingale. Moreover, Orachimaru most likely does not perform market analysis at all in order to conclude a deal. The entry is performed immediately at the close of the first candlestick after it is added to the chart.
Further, new deals are concluded at the close of each candle. There is no fixed step between grid orders, as in other grids. Because of this, during a flat, orders are opened at a price with a difference of just a couple of points. On strong movements, the distance between orders reaches tens of points.
At the same time, the lot is constantly growing, and the EA regularly closes the grids of orders, fixing profits and trying to cut off losses in the bud.
There is no detailed explanation of all parameters on the network, we list those whose purpose is beyond doubt:
- MMType – type of money management;
- LotExponent – lot increase coefficient;
- Slippage – in points indicates the allowable slippage;
- Lots – starting lot;
- TakeProfit , StopLoss – take profit and stop in points;
- MaxTrades – limit on the number of simultaneously open transactions;
- UseEquityStop and TotalEquityStop – activation and stop size by equity;
- UseTrailingStop – activation of a trailing stop;
- UseTimeOut – limitation on the lifetime of transactions is activated;
- TimeFilter – if true, the time filter is enabled;
- StartHour , EndHour – start and end time of work;
- Risk – limit on the risk in a trade;
- StartMonth , StartDay , EndMonth , EndDay – month and day of the beginning and end of the EA’s trade;
- FloatingLossProtection – floating loss is limited;
- MaxFloatingLoss – if the loss at the moment exceeds this value, the robot will stop trading;
- HibernateAfterFloating – if set to true, the EA will stop trading after the floating loss filter is triggered.
Since the robot uses martingale and even trades very intensively, we increased the initial deposit to $ 100,000. Standard settings were used. The test was conducted on EURUSD and GBPUSD for the period from January to mid-November 2018.
The results turned out to be typical for martingale robots:
- EURUSD – the results were disappointing. For some time, the deposit grew, but as a result, a loss of 28.24% of the deposit was recorded. Drawdown at the peak reached 35.60%;
The outlines of the deposit growth curve are typical for “monkeys” – it all depends on which part of the market you are on. I recommend paying attention to the frequency of trading. Thus, 26948 transactions were concluded on GBPUSD, and 10874 transactions on EURUSD, during the same period the trading frequency was twice as low. That is, the EA still has some kind of filter on market entries.
The picture is similar for the rest of the pairs. As for Alexander’s results, it looks unlikely that he was able to achieve a profit of 264% per month with the help of Orachimaru alone.
Orachimaru is not suitable for the role of the main advisor for making money on the machine. In addition to it, filters are needed that seriously limit the advisor’s work. As an option, I can suggest:
- determine the direction of the trend and limit the advisor to trade in only one direction – to buy or sell, depending on the direction of the trend;
- experiment with TR and SL;
- select periods for trading using other indicators.