AUD/JPY Wednesday 15:00 expert advisor is based on a trading strategy with the same name. It opens a position on 15:00 EST each Wednesday and closes it one hour later (on 16:00 EST). In the long run it should bring stable profit. Apply it to H1 timeframe. If you plan to backtest it, replace the order selection by ticket with the order selection by index, because MetaTrader 4 Strategy Tester doesn't work properly with tickets.
Warning! The latest backtest of this expert advisor on the period from 2008-07-07 through 2014-01-24 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 The backtest results presented below are outdated.
My test of AUD/JPY Wednesday 15:00 MetaTrader expert advisor resulted in $7,900 profit on $10,000 initial account balance. I used AUD/JPY H1 chart with 1 standard lot positions. The resulting maximum drawdown was only $1,723 (10.3%). I ran the backtest from 2008-07-07 till 2009-11-09. And AUD/JPY had both long uptrends and downtrends during that period.
What are the stop-loss and take-profit used by this EA?
It doesn't use stop-loss or take-profit levels. This EA closes position exactly one hour after opening it.
How often does it trade?
Once per week — every Wednesday. Of course, if it's turned on.
How do I set up its time zone parameter?
Set Server_EST_Difference to difference between your MetaTrader server's timezone and EST (Eastern Standard Time). For example, if your server's time is GMT+1 and it's not Daylight Saving Time period then you should set this parameter to 6 (default).
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.
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 AUD/JPY Wednesday 15:00 with other traders and MQL programmers on the experts forums.