Forex Averager System Evo1 Robot review:
The Forex Averager System Evo1 Robot is based on trade averaging methods. This EA belongs to the first and the simplest generation of averaging-based EAs. Nevertheless the EA has flexible configuration of parameters and functions of averaging strategy.
- First_OrderType = BUY – adjustment of the first trade direction. There are two possible statuses: BUY and SELL. Accordingly, type of the first trade coincides with the type specified in this setting.
- EXP_TRADE_MODE = CONDITIONAL. There are three possible statuses of this setting:
- CONTINUED – when a trade or a series of trades closes, the following trade will be a type specified in First_OrderType. If First_OrderType is set to BUY, the EA will always open a BUY order after the series is completed or a single trade is closed.
- REVERSE – after completion of each series the EA changes trading direction to the opposite regardless First_OrderType. I.e. if a BUY order or a BUY order series is closed the following trade will be a SELL one. First_OrderType controls an order for starting trading from.
- CONDITIONAL – conditional change of direction, i.e. it is changed by a certain condition. If number of trades in a recently closed trade series exceeds 3 (MaxSeries_for_ReverseType), the following trade will be of the opposite type. This is made in order that if the trade series increases against the trend, it will most likely close on the rollback. So after closing the series of risky trades it will be logical to trade in the trend direction starting from the rollback. That is why trading direction is changed. If number of closed trades in the series is less than specified in MaxSeries_for_ReverseType, the direction will not be changed as the averaging strategy should make provision for mistakes. And using this parameter we regulate a degree of directional mistakes and then change it.
- MaxSeries_for_ReverseType = 4 – parameter regulating number of trades in the series after which trading direction is changed; valid only for CONDITIONAL trading mode.
- Magic_Number = 333 – EA’s unique number for distinguishing its orders and working only with them.
- Take profit settings. You can set individual take profit for each order in the series. If there are over 15 orders in the series, the 15th order’s setting will be applied for each following order.
TP_1 = 100 – take profit of the first order
TP_2 = 90 – take profit of the second order
TP_3 = 80 – etc…… TP_15 = 50
- The same happens here. The Dist_1 setting regulates distance in points between the first and the second orders in the series.
Dist_1 = 50 – distance in points between the first and the second orders in the series
Dist_2 = 50 – distance between the second and the third orders in the series
Dist_3 = 50 – etc…… Dist_14 = 100, Dist_15 = 100
- AutoMM = true – system of automated lot increase depending on the deposit increase. True – the system is enabled.
- Risk_Koef = 1 – risk per trade if AutoMM = true, recommended values are 0.1-1.5
- Koef_Lot = 2.0 – lot increase coefficient in the averaging series.
- Lot = 0.1; – initial lot if AutoMM = false
- Lot_Digits = 2 – number of decimal places for rounding lots.
Copy and paste the file into the MQL4 Experts folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Experts (paste here)