Welcome to the world of automated trading! Today, we’re diving into the EA_CCIT3, an expert advisor designed to enhance your trading experience on MetaTrader 5.
This EA operates based on the CCIT3_Simple_v_2-01 and CCIT3_noReCalc_v_3-01 indicators. It opens buy positions when the zero line is crossed upwards and sell positions when it crosses downwards. The indicator values used for generating signals are taken from the previous bar.
Understanding the Indicators
- CCIT3_Simple_v_2-01: This modified version of the CCIT3 1.01 relies on the CCI indicator and calculates ratios from the start of the history. There’s a limit on the number of bars calculated (Max_bars_calc).
- CCIT3_noReCalc_v_3-01: A simplified version of the CCIT3_Simple_v_2-01, this indicator doesn’t recalculate ratios with every bar. It also has a limit on calculated bars (Max_bars_calc).
Performance Insights
Let’s take a look at some historical performance:
- no_increaselot_gbpusd_2004: This strategy has been operating since 2004 on GBPUSD without increasing lot sizes, starting with an initial lot of 1.0. Testing was conducted on the Alpari-Demo with all ticks.
- increaselot_gbpusd_2004: Here, we’ve utilized increasing lot sizes with a maximum limit of 50.0, again tested on the Alpari-Demo using all ticks.
- Further Lot Increase: This version also increases lots with a maximum limit of 500.0, tested on the MetaQuotes-Demo with all ticks.
Expert Advisor Settings and Tips
Here are some key parameters to keep an eye on:
- SL/TP: These are placed immediately after opening a position.
- N_modify_sltp: Number of attempts to set SL/TP after unsuccessful attempts.
- trail SL: Activated when the profit position is greater than or equal to zero.
- Max_drawdown: The EA has a lot-increasing option based on your deposit/max drawdown ratio.
- Trade_overturn: This reverses the position when the signal changes; if set to false, orders will only close based on SL/TP/trail.
- use_Simple_CCIT3: Signals are derived from the CCIT3_Simple_v_2-01 indicator.
- use_noReCalc_CCIT3: Signals are derived from the CCIT3_noReCalc_v_3-01 indicator.
The EA can work with either of these indicators, which can yield solid trading results. They can also serve as filters or confirmation signals.
Overall, the EA_CCIT3 is a fantastic starting point for creating a robust trading robot. It's all about finding what works best for you!
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