Expert Advisor myRandom

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myRandom Expert Advisor

myRandom Forex expert advisor is my own experimental MT4/MT5 EA inspired by the seeming randomness of financial trading in general and the Forex trading. Of course, such approach goes astray with the dominant technical and fundamental analyses approach. But it can be considered as the only acceptable method for the believers in the random walk hypothesis.

This EA is very simple; it doesn’t use any market indicators. The only condition it checks to decide the direction of the next position (buy or sell) is the random number – if it’s an odd number EA goes short, if it’s an even number EA goes long.

There are 6 input parameters to tune this expert advisor. Their default settings should be OK for the test GBP/JPY H1 chart, but you can toggle them as you wish to test your money management strategy as it is the only strategy that is applied to such random trading. Here is the list of the input parameters:

  • Lots — the number of standard Forex lots to open positions for.
  • Slippage — the acceptable price slippage.
  • RandomEntryPeriod — the number of bars the EA will wait to open a new position.
  • StopLoss — the stop-loss value in pips.
  • TakePorfit — the take-profit value in pips.
  • MaxPositions — the maximum number of the open positions at the same time. In MT5 version, this is used as the maximum volume of the position measured in Lots.

Warning! The latest backtest of this expert advisor on the period from 2006-11-19 through 2020-01-25 has shown a complete account wipeout.

Do not run this EA on a live account! Use for educational purpose only. The backtest results presented below are outdated.

Despite its seeming uselessness the random Forex trading proved to be profitable on the backtesting performed in the strategy tester. So, if you want to try something new and original myRandom EA is a good choice.

This EA is using a Magic number to track the number of currently open orders for the selected currency pair. So it’s safe to trade with it on multiple currency pairs/timeframes in one account. You should be advised that this isn’t true for the MT5 version. Not only it’s slightly different from the MT4 one but it also may interfere with other EAs trading the same currency pair in the same terminal instance.

Testing myRandom expert advisor over a one year period showed almost $1,650 of profit on the GBP/JPY H1 pair/timeframe combination. The maximum drawdown was as low as $29. Testing its performance over the last three years also confirmed its stability.

MiniFAQ

What are the stop-loss and take-profit used by this EA?

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It uses 90 pip stop-loss and 600 pip take-profit, without the trailing stop-loss.

How often does it trade?

On hourly GBP/JPY chart (the optimum settings) this EA will trade 6-7 times a month on average.

What’s the difference between the versions for MT4 and for MT5?

Unlike the version for MT4, the one for MT5 trades without hedging and monitors only the maximum volume of the position, it also uses only one stop-loss and take-profit level for the whole such position.

This EA is ECN-compatible. You must set ECN_Mode input parameter to true in order to enable ECN-compatibility for this expert advisor. Otherwise, you will most likely be seeing OrderSend Error 130 messages when EA will be trying to open positions. This is because, if you are trading with an ECN broker (with market execution for orders), you cannot set SL/TP on position opening. You have to open a position first without SL/TP and only then modify it, adding stop-loss and/or take-profit level.

Downloads

Discussion

Warning! Before you ask basic questions regarding installation of the expert advisors, please, read this MT4 Expert Advisors Tutorial to get the elementary knowledge on handling them.

Do you have your own trading results or any other remarks regarding this expert advisor? Discuss myRandom with other traders and MQL programmers on the experts forums.

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Expert Advisor myRandom

myRandom is an expert advisor that is mainly based on the random walk theory of financial markets, so it may not be very attractive to followers of fundamental analysis and technical analysis but it worth a try.

This EA is fairly simple in its operation, as it does not use any indicator. The only condition checked before deciding the direction of the next position (buy or sell) is the random number. If this number is even the EA opens a buy position but itf the number is odd the EA open a sell position. It’s that simple.

The parameters of this Expert Advisor are:

  • Lots: Volume in standard lots to open a position.
  • Slippage: The acceptable slippage in the price.
  • Stoploss: The value of stop loss in pips.
  • TakeProfit: The value in pips of Take Proft (profit taking).
  • RandomEntryPeriod: The number of bars that the Expert Advisor will wait before opening a position.
  • MaxPositions: The largest number of positions that this EA will open simultaneously.

Although it may seem a totally useless approach, this EA based on random Forex trading has proved profitable in the tests carried out by the users, so it can be interesting for traders who want to try something new.

myRandom uses a number to track the number of open positions in the selected currency pair, so it can be safely used to operate multiple currency pairs and time frames in an account. For Metatrader 5 this EA can interfere with others Expert Advisors operating in the same currency pair at the same terminal.

Tests with this Expert Advisor

Tests with this EA indicate that the best results are obtained in the GBP / JPY with a time frame of one hour.

-This EA uses a stop loss of 90 pips and a take profit of 600 pips. However, the trailing stops are no used.

-In a 1 hour chart for the GBP/JPY it performed on average 6.7 transactions per month.

Below are the parameters and results for this EA:

  • Stop Loss: Variable.
  • Take Profit: Variable.
  • Currency Pairs: All.
  • Time Frames: All.
  • Best results: GBP/JPY with a time frame of one hour.
  • Percentage Gain: No information.
  • Maximum Drawdown: No information.

Note: This EA is compatible with ECN brokers.

You can download this Expert Advisor for Metatrader 4 and 5 using the following link:

Expert Advisor myRandom

Es un expert advisor que se basa principalmente en la teoría del paseo aleatorio de los mercados financieros, por lo cual puede que no resulte muy atractivo para los seguidores del análisis fundamental y el análisis técnico aunque vale la pena probarlo.

Este EA funciona de forma sencilla, ya que no emplea ningún indicador. La única condición que comprueba antes de decidir la dirección de la siguiente posición (compra o venta) es el número aleatorio. Si este número es par el EA abre una posición de compra y si es impar abre una posición de venta. Así de sencillo.

Los parámetros de este Expert Advisor son los siguientes:

  • Lots (lotes): El volumen en lotes estándar al abrir una posición.
  • Slippage (deslizamiento): El deslizamiento aceptable en el precio.
  • StopLoss: El valor en pips del stop loss.
  • TakeProfit: El valor en pips del Take Proft (toma de ganancias).
  • RandomEntryPeriod: El número de barras que el Expert Advisor va a esperar antes de abrir una posición.
  • MaxPositions: Es el mayor número de posiciones que este EA tendrá abiertas al mismo tiempo.

A pesar de que puede parecer un enfoque totalmente inútil, este EA basado en Forex trading aleatorio ha mostrado ser rentable en las pruebas efectuadas por los usuarios, por lo cual puede resultar interesante para los traders que quieren probar algo nuevo.

Utiliza un número para dar seguimiento al número de posiciones abiertas en el par de divisas seleccionado, por lo cual puede emplearse con seguridad al operar con múltiples pares de divisas y marcos de tiempo en una cuenta. En el caso de Metatrader 5 puede interferir con otros EA que operan en el mismo par de divisas en la misma terminal.

Las pruebas efectuadas con este EA indican que los mejores resultados se obtienen en el par GBP/JPY con un marco de tiempo de 1 hora.

-Emplea un stop loss de 90 pips y un take profit de 600 pips. No utiliza trailing stops.

-En un gráfico de 1 hora para el GBP/JPY realiza en promedio 6-7 operaciones al mes.

A continuación se muestran los parámetros y resultados para este EA:

  • Stop Loss: Variable.
  • Take Profit: variable.
  • Pares de divisas: Todos.
  • Marcos de Tiempo: Todos.
  • Mejores resultados obtenidos: GBP/JPY con un marco de tiempo de 1 hora.
  • Porcentaje de ganancia: Sin información al respecto.
  • Máximo Drawdown: Sin información al respecto.

Nota: Este EA es compatible con brokers ECN.

Pueden descargar este Expert Advisor para Metatrader 4 y 5 a través del siguiente enlace:

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    FinMax

    2do lugar! Gran corredor!

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