The Corvette Expert Advisor trades in the direction of price momentum. When there is a sharp movement up or down in the market, the Expert Advisor places an order in the direction of this movement. Anyone who has traded on the news knows that an attempt to enter the market on the momentum can end in failure, especially if you enter the market or stop orders. The main problem here is the slippage. On the other hand, if the momentum is large enough, then even if you open with a slip, you will still get the result. The Corvette Expert Advisor has a limit on the number of orders – 3.
When testing high-frequency Expert Advisors, you should take into account that the MetaTrader 4 tester does not take into account slippage, requotes and floating spread. Therefore, any test can only give a rough idea of how the Expert Advisor will behave on a real account.
In any case, before putting 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-course gives little information for the test, because it is easily calculated from the same majors.
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Let’s define how the momentum for opening a position is determined.
The ExtraLength period (for example, 8 ticks) in the Expert Advisor parameters determines the period of recalculation of indicators. Roughly speaking, this is the internal timeframe of the Expert Advisor. Every 8 ticks, the Expert 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 greater than the average and at the same time 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 issue of profit/loss fixing remains. It is important to have time to fix the order before the price turns back. To close positions in the Corvette Expert Advisor, a primitive method is used for taking profit or loss as a percentage of the deposit. When the profit/loss on the positions reaches a certain value, the orders are closed. The advantage of this method is the simplicity and predictability of profitability.
Parameters:
- ExtraMagic-magic number;
- ExtraTP-take profit;
- ExtraSL-stop loss;
- ExtraLength-period;
- ExtraLot-lot;
- ExtraLotForDepo-lot in percentage recalculation from the deposit;
- ExtraLimitSpread – limit on the spread;
- ExtraTick – minimum tick size for accounting;
- VirtualTPforDepo-virtual buy-profit in percentage recalculation from the deposit;
- ExtraMagic-magic number;
- ExtraTP-take profit;
- ExtraSL-stop loss;
- ExtraLength-period;
- ExtraLot-lot;
- ExtraLotForDepo-lot in percentage recalculation from the deposit;
- ExtraLimitSpread – limit on the spread;
- ExtraTick – minimum tick size for accounting;
- VirtualTPforDepo-virtual buy-profit in percentage recalculation from the deposit;
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