Framework Forex expert advisor uses three Commodity Channel Index (CCI) indicators crosses to determine position opening and closing. It is very simple, yet effective expert advisor. It also performs checks for available free margin to stop trading if it is bankrupt. This EA doesn't trade if bars didn't change or there were no 100 bars yet.
Warning! The latest backtest of this expert advisor on the period from 2006-11-20 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 The backtest results presented below are outdated.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 Framework MetaTrader expert advisor gave a very good result using GBP/JPY pair on a daily chart using just 0.1 standard lots - about $20,000 profits over $10,000 account in one year, with just about $2,000 maximum drawdown. I've also checked it on a three years period and its performance showed the same stability.
What are the stop-loss and take-profit used by this EA?
It uses 255 pip take-profit, but doesn’t use a stop-loss on its orders. It should be on to close your orders when they are losing. The average losing order is 503 pips.
How often does it trade?
On daily GBP/JPY chart (the optimum settings) this EA will trade 2-3 times a month 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 Framework with other traders and MQL programmers on the experts forums.