Unlocking the 21Hour Expert Advisor
If you're diving into automated trading on MetaTrader 4, the 21Hour Expert Advisor (EA) might just be your new best friend. This system strategically places two pending orders at a set time and deletes one once the other is triggered. Your exit strategy can either be a Take Profit (TP) or a time expiration, depending on which comes first.
Default Settings Explained
- Lots: This refers to the volume of your order.
- ChasStart: The time when your orders are placed.
- ChasStop: The time when your orders are closed.
- Step: This indicates the distance from the current price at which the pending order is placed.
- TP: The Take Profit level for your trades.
Strategy Tester Report Overview
Take a look at the performance metrics from the 21Hour EA using Alpari-Classic (Build 220):
| Symbol: | EURJPY (Euro vs Japanese Yen) | ||||
| Period: | 1 Hour (H1) from 2008.11.03 00:00 to 2008.12.08 09:00 | ||||
| Model: | Every tick, which is the most precise method. | ||||
| Parameters: | Lots=0.1; ChasStart=10; ChasStop=22; Step=15; TP=200; | ||||
| Bars in Test: | 1606 | Ticks Modeled: | 748,858 | Modeling Quality: | 52.19% |
| Initial Deposit: | £10,000.00 | Total Net Profit: | £792.85 | Gross Profit: | £2,597.94 |
| Gross Loss: | -£1,805.09 | Profit Factor: | 1.44 | Expected Payoff: | £31.71 |
| Absolute Drawdown: | £515.25 | Maximum Drawdown: | £917.51 (8.34%) | Relative Drawdown: | 8.34% (917.51) |
| Total Trades: | 25 | Short Positions (% Won): | 16 (56.25%) | Long Positions (% Won): | 9 (66.67%) |
| Largest Profit Trade: | £213.43 | Largest Loss Trade: | -£582.46 | ||
| Average Profit Trade: | £173.20 | Average Loss Trade: | -£180.51 | ||
| Max Consecutive Wins: | 4 (£761.80) | Max Consecutive Losses: | 4 (-£758.50) | ||
| Average Consecutive Wins: | 3 | Average Consecutive Losses: | 2 | ||
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