Otkat Forex expert advisor is based on the range pull-backs in the intraday trends. The entry conditions are based on the range low and high points with the buy signals generated near the lowest half of the range and the sell signals generated near the highest half of the range. The expert advisor uses not only take-profit and stop-loss levels but also exit by time. It enters the positions only at the beginning of the day (it doesn't trade on Mondays/Sundays and Fridays/Saturdays) and closes them at the day's end. You need to set Server_GMT_Difference parameter to your MetaTrader server's timezone for the EA to function properly.
The back-test of the Otkat MetaTrader expert advisor on the 3-year period showed the following results with H1 chart of the EUR/USD currency pair and 1.0 standard lot volume per position — $7,940 net profit on $10,000 starting account with the maximum relative drawdown at 14.06%. Due to the nature of its optimal settings, this EA will win almost 90% of the trades, but the average loss is more than 5 times greater than average profit.
What are the stop-loss and take-profit used by this EA?
It uses the fixed stop-loss level of 51 pips and the fixed take-profit level of 8 pips. Note, that it's better to set even lower take-profit, if only your Forex broker allows that without generating OrderSend Error 130.
How often does it trade?
On hourly EUR/USD chart (the optimal settings) this EA will trade once every week on average.
How to set Server_GMT_Difference parameter correctly?
Set it to your MetaTrader server's timezone. For example, if your MetaTrader server's timezone is GMT-5 (New York time with DST off) set this parameter to -5.
DownloadsDownload Otkat expert advisor for MetaTrader 4 Download zipped Otkat expert advisor for MetaTrader 4 Download Otkat expert advisor for MetaTrader 5 Download zipped Otkat expert advisor for MetaTrader 5
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