Preview
In this post we introduce an Expert Advisor (EA) specifically designed for automated trading of the Australian Dollar versus Canadian Dollar (AUDCAD) currency pair using daily candlestick data on the MT4 platform. The EA leverages the well-known pivot points to capitalize on market volatility, aiming to exploit the pair's mean-reverting behavior when present. Simple and streamlined in its structure, the EA is built with transparency in mind, operating without any performance optimization. This approach provides users with an honest evaluation of its capabilities, showcasing raw performance through default parameters and limits the influence of curve fitting.
The development, testing and analysis of this EA have been conducted under consistent parameters:
- Starting capital: €1,000
- Fixed lot size: 0.01
- Position types: Long and Short
- Martingale or Hedging: No
- Maximum leverage: 1:100
- Maximum open lots: 1
We provide an in-depth overview of the EA’s features, alongside detailed performance metrics derived from rigorous testing. These insights offer traders a comprehensive understanding of the algorithm’s behavior in diverse scenarios, empowering them to make informed decisions about its integration into their trading strategies.
The final part of the post displays the status of the trading system, which can be modified when the system is disabled or replaced. Quarterly subscribers can download the EA executable file for free, ready for seamless integration into the MT4 platform, as long as the system status remains active.
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