Hey traders! Today, I want to introduce you to an intriguing tool that could potentially enhance your trading strategy: the ZigZagEvgeTrofi EA for MetaTrader 4. Let’s dive into how this Expert Advisor (EA) works and what you need to know before using it.
Understanding the ZigZag Indicator
The ZigZag indicator is well-known among traders for its ability to mark significant price points. Here’s the lowdown:
- If the latest point is lower than the previous one, it indicates a sell signal.
- If it’s higher, that’s your cue for a buy signal.
Now, if you already have a buy position open and a new buy signal appears, just sit tight—no action needed! However, if you’re in a sell position and a buy signal comes through, it’s time to close that position and open a new one in the right direction.
Important Note
Heads up! It’s a good idea to integrate Money Management and Martingale strategies into this EA. Before you start using it, make sure to set your Stop Loss and Take Profit limits. This EA doesn’t come with these features built-in, and connectivity issues could lead to your positions swinging wildly in the wrong direction.
Caution! Avoid using this EA on a live account until it is fully developed.
Performance Report
Let’s look at the performance of the ZigZagEvgeTrofi EA:
| Symbol | GOLD (Spot) | |||||
| Period | 4 Hours (H4) from 2004.07.07 12:00 to 2008.09.22 20:00 | |||||
| Model | Every tick (most accurate method) | |||||
| Parameters | ExtDepth=17; ExtDeviation=7; ExtBackstep=5; Lot=0.1; | |||||
| Bars in test | 6443 | Ticks modelled | 4267178 | Model quality | 88.60% | |
| Initial deposit | $1,000.00 | Total net profit | $6,275.97 | Gross profit | $16,505.35 | |
| Gross loss | -$10,229.38 | Profit factor | 1.61 | Expected payoff | $28.14 | |
| Absolute drawdown | $376.19 | Maximum drawdown | $1,101.44 (15.32%) | Relative drawdown | 46.40% ($540.02) | |
| Total trades | 223 | Short positions (% won) | 111 (37.84%) | Long positions (% won) | 112 (48.21%) | |
| Profit trades (% of total) | 96 (43.05%) | Loss trades (% of total) | 127 (56.95%) | |||
| Largest profit trade | $1,182.76 | Largest loss trade | -$306.66 | |||
| Average profit trade | $171.93 | Average loss trade | -$80.55 | |||
| Max consecutive wins | 5 ($716.33) | Max consecutive losses | 5 (-$297.53) | |||
| Average consecutive wins | 2 | Average consecutive losses | 2 | |||
In summary, while the ZigZagEvgeTrofi EA shows potential, make sure you understand its limitations and risks before diving in. It’s all about making informed decisions, right? Happy trading!
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