- February 4, 2021
- Posted by: Forex Wiki Team
- Category: Free Forex EA
Hi Forex Wiki Trading,
Pirate One EA 1.6V is called a profitable "night scalper", as it opens trades after the end of the US session (this is 22:00 GMT), when the market has the lowest volatility. The EA does not use dangerous money management methods such as martingale, position averaging, grid, etc. It withstands 21 years of testing with confidence. It is possible to use virtual or fixed Take Profit. Read more about the advisor settings below.
Сharacteristics of the Pirate One EA 1.6V
- EA version: 1.6
- Currency pairs: Any, recommended EURCHF, EURGBP, GBPUSD, CHFJPY, EURAUD, USDCAD
- Trading Time: After the end of the US session (trading time can be set in the settings)
- Timeframe: Any, recommended M15
Trading algorithm
The Expert Advisor monitors price levels for several indicators and, based on this, opens deals during a period of low market volatility - after the end of the US session (the trading time can be changed in the settings). After opening a trade, the robot monitors it until it closes with a profit or, if unlucky, with a small loss:
Testing on Historical Data
The author calls EURCHF, EURGBP, GBPUSD, CHFJPY, EURAUD, USDCAD as the main pairs for profitable EA trading. It was on these pairs that I performed testing in two versions: with dynamic (default settings) and fixed lot (USING = LOT; RISK / LOT = 0.1). The testing period is 2000-2021:
Broker Requirement :
- USING - Select whether to trade risk or fixed lot
- RISK - Use risk, % of available funds
- LOT - Use fixed lot
- RISK/LOT - risk or fixed lot Size
- WHAT_TP_TO_USE - the Choice of which to use TakeProfit
- VIRTUAL - Virtual
- REAL - Real
- TAKE_PROFIT - Set profit
- STOP_LOSS - Set loss
- MAX_SPREAD_OPEN - Maximum possible (spread) to open positions
- MAGIC_NUMBER - Magic number of the positions
- SLIPPAGE - Slippage rates
- FILTER_SWAP - Filter (swap) *
- DISABLED - Disabled
- TRIPLE - Triple
- FULL - Permanent
- DEALS_ON_THE_BAR - is to Trade multiple times on the bar
- TIME_PERIOD_BAR - bar Period
- USE_A_SOUND - Sound notification
- START_TRADING - Hour to start trading expert
- STOP_TRADING - End of expert Advisor trading Hour
* Triple - a with Wednesday to Thursday did not open the position at which the negative (swap).
Permanent - do not open position if it is negative (swap).
Applies only if the trading start time is set before 00: 00
The default start time settings (00:00) should start at 22.00 for winter and 21.00 for summer Greenwich mean time.
Broker server time must coincide with the beginning of the trade when it appears: Trading is permitted! The broker's server time can be seen in the Navigator of your MT4:
So for the broker , the time zone offset relative to Greenwich is +2 hours, that is, GMT +2. Use this page to find your GMT time.
If trading starts earlier (00:00) it is desirable to enable FILTER_SWAP to avoid opening positions with negative (swap).
The author does not recommend using the EA simultaneously on several currency pairs for one trading account, especially if these pairs are correlated with each other. It is better to start with one well-tested pair with optimized settings and low risk or fixed lot. If the trading results are positive, then you can gradually add pairs and risk.
You must use a broker with 5-digit quotes and an ECN account with a low spread. I am using RoboForex ECN accounts with zero spread.
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Pirate EA Results:
Download Pirate EA :
[+ForexWikiTrading.com]Pirate One EA V 1.60
