Forex Corvett Expert Advisor

Forex Corvett Expert Advisor review:

The Corvette EA trades in the direction of the price momentum. When a sharp up or down movement appears in the market, the EA places an order in the direction of this movement. Those who have traded the news know that an attempt to enter the market on momentum can fail, especially if you enter the market or stop orders. The main problem here is slippage. On the other hand, if the momentum is large enough, even if you open with slippage, you will still get the result. The Corvette EA has a limit on the number of orders – 3.
When testing high-frequency Expert Advisors, it should be taken into account that the MetaTrader 4 tester does not take into account slippages, requotes and floating spreads. Therefore, any test can only give a rough idea of ​​how the advisor will behave on a real account.
In any case, before placing such a robot on a real account, you need to decide on the approximate settings and currency pairs for trading. That is, first you need to find out the potential of trading instruments. For testing, you can limit yourself to only major pairs. The cross-rate provides little information for the test because it is easily calculated from the same majors.
Let’s define how the impulse for opening a position is determined.
The ExtraLength period (for example, 8 ticks) in the EA parameters determines the period of the indicators recalculation. Roughly speaking, this is the EA’s internal timeframe. Every 8 ticks, the advisor calculates in which direction the price has moved relative to the previous value and by how much. If the size of the movement is larger than the average and is greater than the value of the minimum shift, then a Buy or Sell order is opened, depending on the direction of the shift. The position of the internal indicators relative to zero is also taken into account.
But the question of fixing profit / loss remains. It is important to have time to fix the order before the price reverses back. To close positions in the Corvette Expert Advisor, a primitive take profit or profit / loss method is used as a percentage of the deposit. When the profit / loss on positions reaches a certain value, orders are closed. The advantage of this method is simplicity and predictability of profitability.
  • ExtraMagic – magic number;
  • ExtraTP – take profit;
  • ExtraSL – stop loss;
  • ExtraLength – period;
  • ExtraLot – lot;
  • ExtraLotForDepo – lot as a percentage of the deposit;
  • ExtraLimitSpread – spread limit;
  • ExtraTick – minimum tick size for accounting;
  • VirtualTPforDepo – virtual current profit as a percentage of the deposit;

Test results:

Forex Corvett Expert Advisor

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)

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