Hey fellow traders! If you're looking for a straightforward and potentially profitable trading system, the "20/200 Pips" EA may just be what you need. This Expert Advisor is now available on MQL5 and is worth checking out!
The code is well-commented, making it easier for you to understand how it works.
The Trading Rules
Here’s how it operates:
The EA analyzes the price difference over a specific timeframe. If that difference is negative and exceeds a certain threshold, it triggers a sell order; conversely, if it’s positive, a buy order is placed.
The name "20/200 Pips" comes from its fixed Take Profit and Stop Loss values of 20 and 200 pips (for 4-digit prices). If you’re dealing with 5-digit prices, the TP/SL ratio adjusts to 200/2000.
While it’s primarily designed for trading the EUR/USD on a 1-hour chart, feel free to experiment with other currency pairs too!
Just a heads-up: the current code lacks error handling routines, meaning it’s not ready for live trading as is. The parameters were optimized based on historical data from 1999 to 2006, so they may not be the best fit for today’s market conditions. However, even with these older parameters, the system has shown long-term profitability.
Input Parameters for 5-Digit Prices
Here are the key parameters to set:
- TakeProfit: 200; // Take Profit in pips
- StopLoss: 2000; // Stop Loss in pips
- TradeTime: 18; // Trade time GMT
- t1: 7; // First bar index for Open price (e.g., Open[t1])
- t2: 2; // Second bar index for Open price (e.g., Open[t2])
- delta: 70; // Price difference bias between bars Open[t1] and Open[t2] for trading signals
- lot: 0.1; // Lot size
Input Parameters for 4-Digit Prices
If you’re using 4-digit pricing, adjust the values as follows:
- TakeProfit: 20; // Take Profit in pips
- StopLoss: 200; // Stop Loss in pips
- TradeTime: 18; // Trade time GMT
- t1: 7; // First bar index for Open price (e.g., Open[t1])
- t2: 2; // Second bar index for Open price (e.g., Open[t2])
- delta: 7; // Price difference bias for trading signals
- lot: 0.1; // Lot size
For more information about this trading system, including its history and potential improvements, you can find it here.
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