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Binario Expert Advisor

Contents

Binario Forex expert advisor is based on the exponential moving averages of the same period but for two different price ranges — high and low.

Strategy

This expert advisor sets up two pending orders — one (a buy stop order) at near the EMA calculated over the High prices and one (a sell stop order) near the EMA calculated over the Low prices. Both entries use a buffer above and below the moving averages. The stop-loss is set at the opposite EMA level while the take-profit is some fixed number of pips (set by the trader).

Basically, the EA trades when the price breaks out of the range formed by the two moving averages.

Input parameters

Main

  • MA_Period (default = 144) — the period for the moving averages to use.
  • MA_Method (default = MODE_EMA) — the method of moving average calculation.
  • TakeProfit (default = 115) — the take-profit distance in pips.
  • PipDifference (default = 20) — how far from the EMAs the expert advisor should place its entries.

Money management

  • Lots (default = 0.1) — the volume for trades. Doesn't work if the MaximumRisk parameter is non-zero.
  • MaximumRisk (default = 1) — the coefficient used in position size calculation; it determines how fast the trade size will be growing depending on the available free margin. Set to zero to disable.

Miscellaneous

  • Slippage (default = 30) — the acceptable price slippage in points.
  • OrderCommentary (default = "Binario") — the commentary for positions opened by this EA.
  • Magic (default = 16384) — the order magic number to filter positions opened by this EA.

Backtest

The automatic backtesting of Binario MetaTrader expert advisor provided some interesting results using the EUR/USD pair on a daily timeframe using the MaximumRisk parameter set to 2 - about $8,800 profit on a $10,000 account over a period between 2013-01-01 and 2022-04-19, with a maximum drawdown of 27%.

During the backtest, the average loss was $647 and the average profit — $643. The EA traded once every month on average.

Binario expert advisor - backtest sample trades from MetaTrader 5

As evident from the backtesting screenshot above, the profitable trades are those that are outside of the MA range, while the losing trades are those inside the MA range.

If you are going to apply the EA to a different currency pair or timeframe, you should re-optimize it for different input settings, especially, the TakeProfit parameter.

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.

Downloads (ver. 1.01, 2022-04-20)

Download Binario expert advisor for MetaTrader 4 Download zipped Binario expert advisor for MetaTrader 4 Download Binario expert advisor for MetaTrader 5 Download zipped Binario expert advisor for MetaTrader 5

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.

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.

Changelog

1.01 - 2022-04-20

  • Refactored the MT4 code.
  • Added the MT5 version of the EA.
  • Added detailed input parameters.
  • Added error messages to some potential error situations.
  • Optimized calculations.