Introducing the PROphet EA - a powerful tool designed for traders who use MetaTrader 4. This innovative Expert Advisor (EA) features two independent linear perceptrons, each analyzing market data to help you make informed trading decisions.
Each perceptron categorizes input attributes, specifically candlestick shifts, into two distinct classes:
- Perceptron #1: Class #1: BUY and Class #2: Flat or SELL
- Perceptron #2: Class #1: SELL and Class #2: Flat or BUY
What sets the PROphet EA apart is its unique feature of not grouping BUY or SELL classes into a single perceptron.
Optimization Process
The optimization of the PROphet EA is conducted over the past 12 weeks, carried out on weekends in two stages:
- Stage #1: Set daBUY=true and daSELL=false. During this phase, we optimize weights x1, x2, x3, and x4 from 1 to 200, along with a preliminary stop-loss (slb) ranging from 30 to 100.
- Stage #2: Set daBUY=false and daSELL=true. Here, we focus on optimizing weights y1, y2, y3, and y4 from 1 to 200, and a movable stop-loss (sls) from 30 to 100.
Once both stages are complete, we set daBUY and daSELL to true, with the optimized values applicable for the upcoming week.
For ongoing accuracy, we adapt parameters weekly using the method detailed here.
Forward Testing Results
Let’s take a look at the forward testing results from a typical trading week, specifically from July 21 to July 26, 2008:
| Symbol | EURUSD (Euro vs US Dollar) | ||||
| Period | 5 Minutes (M5) 2008.07.21 00:00 - 2008.07.25 22:55 | ||||
| Model | Every tick (the most precise method based on all available least timeframes) | ||||
| Parameters | daBUY=true; x1=9; x2=29; x3=94; x4=125; slb=68; daSELL=true; y1=61; y2=100; y3=117; y4=31; sls=72; | ||||
| Bars in test | 2420 | Ticks modelled | 46219 | Modelling quality | 90.00% |
| Missmatched charts errors | 12 | ||||
| Initial deposit | £1000.00 | ||||
| Total net profit | £145.00 | Gross profit | £215.00 | Gross loss | -£70.00 |
| Profit factor | 3.07 | Expected payoff | £18.13 | ||
| Absolute drawdown | £61.00 | Maximum drawdown | £70.00 (6.11%) | Relative drawdown | 6.11% (70.00) |
| Total trades | 8 | Short positions (% won) | 5 (100.00%) | Long positions (% won) | 3 (66.67%) |
| Profit trades (% of total) | 7 (87.50%) | Loss trades (% of total) | 1 (12.50%) | ||
| Largest profit trade | £138.00 | Loss trade | -£70.00 | ||
| Average profit trade | £30.71 | Loss trade | -£70.00 | ||
| Maximum consecutive wins | £215.00 (7) | Consecutive losses | -£70.00 (1) | ||
| Average consecutive wins | 7 | Consecutive losses | 1 | ||
This approach to trading not only allows for effective hedging but also ensures you’re equipped for success throughout the trading day!
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