The trading robot 4 hr Trader is a very simple program, but no less effective. It is based on simple code that any novice MQL programmer can write and this is his big plus: it is relatively easy to fine-tune or modify it for his own strategies and risk management.
Robot 4 hr Trader is built on a classic technical analysis tool – moving averages combined with a stochastic that confirms entry signals. Although this tool is often criticized for being unprofitable, the only question is in the trader’s own risk management (more than 50% of the parameters relate to it). It is enough to be able to manage emotions, not to chase profits and close deals in time.
The code of the adviser provides for opening long positions in three strategies:
- Stochastic (5,3,3) crosses the bottom-up line – di ADX (74);
- moving average (4) intersects bottom-up sliding (89);
- ADX (36) crosses MACD (12,26,9) upwards.
Opening short positions is mirrored. Protective orders: Stop Loss – 123 points, Take Profit – 56 points.
4 hr Trader – the best robot for novice traders
Basic trading conditions:
- asset: any currency pairs with high volatility that can show even a short-term, clear trend movement;
- recommended timeframe is H4;
- The optimal deposit is $ 1,000. United States;
- maximum drawdown – 31.81%;
- Profit earned over 7 months of testing – 67.9%.
The testing period is relatively short, but an analysis of open 4 hr Trader transactions ensures an income of 7–9% per month.
Basic 4hr Trader Settings:
- MaxSlippage is the maximum creep value, beyond which the transaction does not open. The higher the value, the higher the risk;
- CustomComment – connect comments to positions that the robot sets;
- MagicNumber is the parameter that marks the positions opened by 4hr Trader, distinguishing them from other transactions;
- UseMoneyManagement – turning on the parameter activates automatic lot calculation;
- Lots – the minimum lot value, provided the previous parameter is disabled;
- LotsDecimal – the number of digits after the comma to calculate the lot;
- RisklnPercent – risk level for each trade that the trader is willing to take (it is recommended to place no more than 5%);
- MaximumLot – the maximum value of the lot.
Summary. This is not to say that the deposit curve on the back test at 4hr Trader is so attractive. And yet, compared to advisers built on the basis of the Martingale, this robot is much more stable. And considering its simplicity, 4hr Trader is optimal in terms of drawdown and profitability, but still we do not recommend leaving it unattended. The combination of manual and automatic control – the key to stable profits. Recall, you can download a free trading advisor on the website of our partner A-Markets, and FxCash rebate service will take care of the return of the spread, making your trading even more profitable!