4hr Trader: The Simplest Technical Analysis on Autopilot

Hello, dear traders of the TradeLikeaPro forex portal! Usually, it is customary to think that the simplest technical-analysis trading strategies, like the crossover of moving averages, are unprofitable. But in fact the reason such systems lose money lies in the stupidity of traders and their inability to manage their emotions. As proof of this thesis, I suggest taking a look at the 4hr Trader expert advisor, built on standard forex indicators, which in principle any schoolkid could write.

Platform: Metatrader 4
Expert advisor version: 1.2
Currency pairs: EURUSD
Timeframe: H4
Operating time: Around the clock
Recommended brokers: Alpari, Roboforex

The 4hr Trader expert advisor is installed according to the standard instructions. If you are not very familiar with automated trading and do not know what it is or what it is eaten with, be sure to watch the video course Forex on Autopilot.

The trading expert combines entries based on 3 strategies:

Sell entries are the mirror opposite. The Stop Loss is 123 points, the Take Profit is 56. The entries are shown more clearly in the screenshots below (they enlarge on mouse click).

Strategy 1:

Strategy 2:

Strategy 3:

A quick glance at the history is enough to understand that such entry strategies will not make you rich, but overall they will bring profit. And if the process is automated, then why not?

2007-2013

Of course, one could speculate about drawdown periods, expectancy, and so on. But the results on a real account do not match the readings of the strategy tester, so in this case the backtest can only give us a general idea that the system is profitable overall.

Why do the tester readings not match real trades? I am not a programmer, so I cannot say which particular one of the hundreds of MT4 tester bugs gets in the way in this case. But such a situation does occur when testing some bots. I think you have often come across robots that show amazing results on historical data and mediocre ones in live trading. Therefore, the tester is only an approximate indicator of an expert advisor's performance.

The risk per trade should not be set above 5%.

The 4hr Trader Expert Advisor is not some super grail, but it is quite robust and by its own example shows that even the simplest technical analysis works and can generate profit. It is best to use 4hr Trader as part of a portfolio, together with other expert advisors. It will not bring huge profit, but it will serve as a good addition to your "money machine".

Important !!!

For the expert advisor to work correctly, the trading terminal must remain turned on from the market open on Sunday evening until its close on Friday evening. If you do not have the ability to keep your computer running 24/5, then I recommend using a VPS server service.

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