Move_V1

[rsmereka]

This review is about the Move_V1 EA. My thanks to skivers for suggesting this EA to me. I have no affiliation with anyone in conjunction with this review. I obtained this EA from tradingsystemforex.com. The EA thread is here (note that you need to be an elite member to read the entire thread or download anything).

I have chosen to run the version 1.04 of this EA which can be found in post #27 of the EA thread. The set file I use with this EA (attached) can be found in post #17.

This EA trades only EURUSD on an M15 chart. The original author is vlad123 and then the EA was modified and optimized by funyhoo. Here is a quote describing the trading strategy:

This EA is based on a high-Low strategy. If the price is located in a zone over the lowest/under the highest and if the range between the highest and the lowest on the current TF is higher than the range between the highest and the lowest on D1, then we buy/sell.

The long-term (Jan 3, 2000 to present) backtest (attached) shows a good smooth equity curve.

My impression of this EA (based on the backtest) is that it is very good. The EA winning rate is only about 61% but it's average win is way higher than it's average loss and the DD (with the attached set file) is about 32%. Warning: this EA is an infrequent trader (about 4.5 trades a month based on the backtest 131 months).
Link: http://www.myfxbook.com/members/rsmereka/move-v1/69354


Rick

[rsmereka]

While I was backtesting an EA for Dan using this account, the Move EA opened two trades during the big EURUSD bull move on the 28th. By the time I got to it, the first trade closed in profit and the second trade opened. I manually closed the second trade in profit.

Keep these two trades in mind when you look at the demo account.

Rick

[Dan]

Rick,

Looks like this ea is doing pretty good so far. Since it trades so infrequently would you be able to trade it on other currency pairs so it traded more often or is it specific to EUR/USD like you said in your original post?

Dan

[rsmereka]

Originally Posted by Dan

Rick,

Looks like this ea is doing pretty good so far. Since it trades so infrequently would you be able to trade it on other currency pairs so it traded more often or is it specific to EUR/USD like you said in your original post?

Dan

Hi Dan,

I agree. This EA shows real promise.

AFAIK, no one has checked out running this EA on other pairs although the strategy is fairly simple and should work. If I get creative, I may try some backtests on other pairs.

Rick

[rsmereka]

Reference

Rick

[rsmereka]

Reference

Rick

[daxzair]

Hey rick, I want to make sure I edit Move_V1 correctly for min and max lot.

minlot=MarketInfo(symb,MODE_MINLOT);
would have to be changed to
minlot=0.01; // for alpari-uk mini account // minlot=MarketInfo(symb,MODE_MINLOT);

right?

Maxlot isn't defined anywhere so that would require a bit more coding, but it isn't necessary because I don't have huge funds.

[daxzair]

Similarly, I found this like defininf lot size:
if(lts<minlot)lts=minlot;

Using the same logic, I would have to define maxlot and add this line to achieve compatibility with alpari-uk lots.
if(lts>maxlot)lts=maxlot;

[rsmereka]

Originally Posted by daxzair

Similarly, I found this like defininf lot size:
if(lts<minlot)lts=minlot;

Using the same logic, I would have to define maxlot and add this line to achieve compatibility with alpari-uk lots.
if(lts>maxlot)lts=maxlot;

No need to edit the mq4 MQL4 source file.

Just set the input values maxlot and minlot. For Alpari UK, they are set correctly in the set file in post #1 for a standard lot or Classic as Alpari calls it.. These are the minimum and maximum lot size allowed by the broker given your account type. You have not said what type of account you have but I'll guess at Micro which allows from 0.01 to 2.0 in 0.01 increments. The 2 standard lot limit is for all open positions so I think you should set your maxlot to 1.0 because there is a high probability that Teyacanani and Move_V1 will open positions close to the same time.

Rick

[daxzair]

Ohhh I was using the old version. I would have thought that his first post contained the latest version. Thanks :P

I'll probably have a micro account until my funds increase. I suppose Alpari-UK will do the switch once I pass 2000$ in deposited funds which is the requirement for a classic account.