Robot Example 1 – Random Entries

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This is the first example of a MetaTrader expert advisor from our course on building your own forex trading system.

It is designed to demonstrate as simply as possible the basic structure of a forex "robot". The system stays in the market all the time. It enters long on an uptick, and short on a downtick, using a fixed position size. It uses a day trading style exit strategy, with a fixed profit target and a fixed stop-loss. These numbers can be changed to whatever value you want when you start the expert advisor – they are "input parameters" or "input properties" in the jargon. Feel free to experiment by backtesting the "robot" using the MetaTrader strategy tester, and trying lots of different combinations for the ProfitTarget and StopLoss settings, with a variety of different start and end dates. Notice in particular that not all combinations are as profitable as the default values!

Here are the results from the MetaTrader 4 strategy tester:

Strategy Tester Report
GuruEx01
Symbol EURUSD (Euro vs US Dollar)
Period 1 Minute (M1) 2009.01.05 00:01 – 2009.04.10 22:59 (2009.01.05 – 2009.04.11)
Model Every tick (the most precise method based on all available least timeframes)
Parameters Magic=12345; Slippage=30; ProfitTarget=1000; StopLoss=10000; Lots=0.01;
Bars in test 97958 Ticks modelled 2494305 Modelling quality 25.00%
Mismatched charts errors 0
Initial deposit 100.00
Total net profit 112.24 Gross profit 150.75 Gross loss -38.51
Profit factor 3.91 Expected payoff 7.01
Absolute drawdown 8.18 Maximal drawdown 98.24 (49.57%) Relative drawdown 49.57% (98.24)
Total trades 16 Short positions (won %) 9 (100.00%) Long positions (won %) 7 (85.71%)
Profit trades (% of total) 15 (93.75%) Loss trades (% of total) 1 (6.25%)
Largest profit trade 10.72 loss trade -38.51
Average profit trade 10.05 loss trade -38.51
Maximum consecutive wins (profit in money) 15 (150.75) consecutive losses (loss in money) 1 (-38.51)
Maximal consecutive profit (count of wins) 150.75 (15) consecutive loss (count of losses) -38.51 (1)
Average consecutive wins 15 consecutive losses 1

Graph

# Time Type Order Size Price S / L T / P Profit Balance
1 2009.01.05 00:01 sell 1 0.01 1.38820 1.48838 1.37820
2 2009.01.05 09:22 t/p 1 0.01 1.37820 1.48838 1.37820 10.00 110.00
3 2009.01.05 09:22 sell 2 0.01 1.37725 1.47743 1.36725
4 2009.01.05 09:39 t/p 2 0.01 1.36725 1.47743 1.36725 10.00 120.00
5 2009.01.05 09:39 sell 3 0.01 1.36689 1.46707 1.35689
6 2009.01.05 13:50 t/p 3 0.01 1.35689 1.46707 1.35689 10.00 130.00
7 2009.01.05 13:50 buy 4 0.01 1.35683 1.25665 1.36683
8 2009.01.07 14:28 t/p 4 0.01 1.36683 1.25665 1.36683 10.02 140.02
9 2009.01.07 14:28 buy 5 0.01 1.36733 1.26715 1.37733
10 2009.01.08 15:07 t/p 5 0.01 1.37733 1.26715 1.37733 10.03 150.05
11 2009.01.08 15:07 sell 6 0.01 1.37739 1.47757 1.36739
12 2009.01.08 19:43 t/p 6 0.01 1.36739 1.47757 1.36739 10.00 160.05
13 2009.01.08 19:43 sell 7 0.01 1.36709 1.46727 1.35709
14 2009.01.09 15:02 t/p 7 0.01 1.35709 1.46727 1.35709 9.99 170.04
15 2009.01.09 15:02 sell 8 0.01 1.35670 1.45688 1.34670
16 2009.01.09 18:29 t/p 8 0.01 1.34670 1.45688 1.34670 10.00 180.04
17 2009.01.09 18:29 sell 9 0.01 1.34630 1.44648 1.33630
18 2009.01.12 09:09 t/p 9 0.01 1.33630 1.44648 1.33630 9.99 190.03
19 2009.01.12 09:09 buy 10 0.01 1.33623 1.23605 1.34623
20 2009.03.18 20:07 t/p 10 0.01 1.34623 1.23605 1.34623 10.72 200.74
21 2009.03.18 20:07 buy 11 0.01 1.34655 1.24637 1.35655
22 2009.03.19 12:44 t/p 11 0.01 1.35655 1.24637 1.35655 10.03 210.77
23 2009.03.19 12:44 sell 12 0.01 1.35673 1.45691 1.34673
24 2009.03.24 20:32 t/p 12 0.01 1.34673 1.45691 1.34673 9.96 220.73
25 2009.03.24 20:32 sell 13 0.01 1.34638 1.44656 1.33638
26 2009.03.27 12:41 t/p 13 0.01 1.33638 1.44656 1.33638 9.93 230.66
27 2009.03.27 12:41 buy 14 0.01 1.33637 1.23619 1.34637
28 2009.04.02 14:44 t/p 14 0.01 1.34637 1.23619 1.34637 10.07 240.73
29 2009.04.02 14:44 buy 15 0.01 1.34703 1.24685 1.35703
30 2009.04.06 03:24 t/p 15 0.01 1.35703 1.24685 1.35703 10.02 250.75
31 2009.04.06 03:24 buy 16 0.01 1.35724 1.25706 1.36724
32 2009.04.10 22:59 close at stop 16 0.01 1.31866 1.25706 1.36724 -38.51 212.24

As you can see every trade was a winner, apart from the last one, which hadn't hit either the take profit or stop loss levels when the backtest finished. This trade was running an open loss at the time, hence the sad looking droop at the end of the equity curve. Time will tell whether this trade becomes yet another winner.

Use the following links to view the source code for the "robot" that produced those "astonishing" results:

In the MetaTrader MQL4 language

In the MetaTrader MQL5 language, using a traditional procedural style

In GFT's CTL language

In Java for Dukascopy's JForex platform

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