Legend EA trades pending orders in the channel using secure strategies without scalping, martingale and grid. The EA opens positions only at the close of the bar, which protects orders from market noise and the hunt for Stop Loss. Has complex exits using Trailing Stop with break-even and partial closure on several targets.Сharacteristics of the Legend EA
Platform: Metatrader4
EA version: 1.3
Currency pairs: Any, recommended EURAUD, EURUSD, USDJPY, XAUUSD
Trading Time: Around the clock
Timeframe: Any, recommended M15
Legend EA trading algorithm
The author does not disclose the EA's trading strategy. We can only assume that this is trading pending orders at the borders of a channel or support/resistance levels.
Back Testing
The EA comes with presets for 4 currency pairs. It was on these pairs with these pre-settings that I performed testing:
EURAUD M15 | 2010-2020
USDJPY M15 | 2010-2020
XAUUSD M15 | 2010-2020
Despite the fact that the presets are designed for a later version 2.0, they came up perfectly for our version 1.3. As you can see, the Expert Advisor confidently passes the 10-year test with an initial deposit of only 1000 USD. But the maximum drawdown in this case reaches from 11.29% on XAUUSD to 45.44% on EURUSD, which is not very small.Expert Advisor settings Legend has an automatic MM with a given risk level. Applies virtual Stop Loss and Take Profit that are slightly different from those seen by the broker (Broker Stop Loss, Broker Target Profit). There is a setting for trading hours, the possibility of scheduled closing of positions.
You can see the full list of settings below: In the archive Legend_EA.rar (104.0 kb):
Legend.ex4
Legend v1.11 EURUSD M15.set
Legend v1.11 S2 XAUUSD M15.set
Legend v1.11 USDJPY M15.set
Legend v2.0 EURAUD M15.set
Legend v2.0 EURUSD M15 default.set
Legend v2.0 USDJPY M15.set
Legend v2.0 XAUUSD M15 S2.set
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