Broker AMarkets, partner of FxCash rebate service, likes to surprise its clients with non-standard solutions in the field of trading advisors. Cobra Advisor refers precisely to such. Novice traders will not be able to cope with it, but for the gurus of trading it will seem an entertaining designer. We strongly recommend this trading advisor to those who like to understand the intricacies of trading algorithms and are ready to show excitement and patience with this profit designer.
Cobra Advisor – flexible robot for professionals
This robot can be called non-standard because it is based on only one indicator – the moving average (MA). The principle of operation is based on the fact that the price winds like a cobra around the MA, affecting pending orders. Deferred limiters are set at a distance from the MA. If the price goes up, it catches a deferred limitnik for sale, turns around and closes at a take profit. If the price continues to move on, instead of a reversal, new limiters are opened until the reversal and closing of the total take profit occurs.
Version 1.1, introduced by AMarkets, was created in 2010. Today this robot has more than 10 versions with modified code. The disadvantages of the Cobra advisor include the need for frequent re-optimization due to market volatility. With a yield of 27.7% for 6 months, this advisor has one of the largest maximum drawdowns – 86.46%.
The recommended timeframe is M30 or H1. In the new version 1.5, the emphasis is placed on minimizing risks – the trader can set the take profit and stop loss levels himself. This allows you to limit losses, since the Cobra advisor is designed to work with rollbacks, correction, and flat. Trading on news with him is unprofitable.
Cobra Advisor Settings:
- Dinamic Lot – the initial lot volume at which the calculation of the trading volume for each position starts;
- Op Step – the distance from the MA to the first pending order;
- Lim Step – pending order step;
- Lim Setup – parameter that shows how many maximum orders can be placed on both sides of the MA;
- Period – MA period;
- Magic Number – assignment of a number to deals opened by the program in order to distinguish its orders from orders of other programs or manually opened.
Minimalism prevails in the settings, so experimenters can try to add another sliding or other oscillator to the code. Or test other versions of the robot, for example, 2.5 or Adrenaline. The latest version adds settings:
- balance – limit on total stop loss in% of the deposit, a fixed amount of losses, limiting the maximum drawdown on the main strong trend;
- greed – Take Profit overall level.
Summary. A sophisticated adviser for professionals who love to overcome difficulties and are prone to excitement. The robot requires attention, works on a short period of time, but in general, shows good results and is able to bring moderate profits in a calm flat market. Sharing comments on the advisor in the comments. If someone has an already developed version of the Cobra, share the secrets with our readers!