Binario Forex expert advisor is based on the exponential moving averages of the same period but for the different price ranges (high and low). But this expert advisor doesn't use any buy or sell signal, it simply opens buy and sell position in rotation and modifies their parameters according to the calculated moving averages. It uses a stop-loss and real-time order monitoring to close the positions. Position in the opposite direction is opened right after one is closed.
Warning! The latest backtest of Binario expert advisor on the period from 2006-11-20 through 2014-01-24 has shown 63.4% profit and 57.3% maximum drawdown combined with very inconsistent balance curve over time.
It is not recommended to run this EA on a live account. The backtest results presented below are outdated.
My automatic testing of Binario MetaTrader expert advisor gave some interesting results using GBP/USD pair on a daily chart using 0.1 standard lots - about $50,000 profit on $10,000 account in one year, with a maximum drawdown below $3,000. I've also checked it on a three years period and its performance showed the same stability. But there is a serious problem with this expert advisor - it made only 4 trades during the year. So there is no real reason to use it as the automatic EA - just use its strategy for manual trading and you'll have nice long-term profit.
What are the stop-loss and take-profit used by this EA?
It uses the variable stop-loss and take-profit values, but the average winning position yielded 1750 pips and the average losing — 250 pips.
How often does it trade?
On daily GBP/USD chart (the optimum settings) this EA will trade very rarely — 4 times a year on average.
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.
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 Binario with other traders and MQL programmers on the experts forums.