GloryChampion Expert Advisor

GloryChampion forex expert advisor from German developers attracts attention with good historical tests and real-account monitoring dating back to 2009 (!). Over this time, the expert has shown itself from a very positive side.

GloryChampion Expert Advisor Characteristics

Platform: Metatrader 4

Expert advisor version: 1.61

Currency pairs: EURUSD, GBPUSD

Timeframe: M5

Operating time: Around the clock

Recommended brokers: Alpari, Forex4You

Before us is a round-the-clock scalping expert advisor; most often trades close with a profit/loss in the area of 10-15 points, but in some cases both take-profit and stop-loss can reach 50-60 old points.

The main strength of the expert advisor lies in thoughtful position-size management based on the stop-loss size (it is dynamic here), as well as closing positions in parts. Therefore, disabling automatic money management in GloryChampion is strongly not recommended.

The expert advisor code is extremely complex and extensive, so I cannot say anything specific about the basis for market entries. It is known that stochastic, rsi, and many other indicators and conditions are involved.

(All settings are default) 2007-2012

EURUSD

GBPUSD

The expert advisor's historical tests are smooth and attractive; these are exactly the kinds of charts that forex software hustlers like to use to lure buyers. However, GloryChampion can boast a much more valuable asset: real-account monitoring dating all the way back to 2009, and that is already a serious track record.

So, here are two real-account monitors provided by the authors of the expert advisor (since 2009, GloryChampion has earned almost 30000 euros on these 2 accounts):

We can also follow Bert's forward test (eareview.net), but it was launched quite recently, so there is little data.

And, of course, do not forget to read the FAQ on working with expert advisors before shouting that "nothing works" for you.

MagicNumber - a parameter needed by the expert advisor to distinguish positions opened by it from positions opened by other expert advisors or manually.

SplitLot - enable/disable partial closing of positions when exiting a trade

LongAllowed – allow/disallow opening buy trades

ShortAllowed – allow/disallow opening sell trades

The expert advisor offers three types of money management (see below). The settings for each of them are placed in a separate section.

MM1: Fixed Fractional Money Management (FFM)

MoneyManagement_Variant = 1 – the expert advisor will risk a fixed percentage of the balance in each trade. The stop-loss is dynamic, so the lot size will be different in each trade, depending on the stop.

Risk_long_Percent– the percentage risk per trade for buys

Risk_short_Percent– the percentage risk per trade for sells

Use_Adaptive_MM – turn on/off an alternative (additional) lot calculation based on accumulated profit. Accumulated profit is calculated separately for buy trades and sell trades. When opening a position, the expert advisor divides the accumulated profit by a preset divisor (Divisor) and, if the resulting dollar amount is greater than the result of the Risk_Percent parameter, it will be used as the loss limit and the basis for setting the position lot size.

Divisor_Long, Divisor_Short – the divisor of the Adaptive_MM option for buy and sell trades respectively.

An example of how the Adaptive_MM option works:

Starting balance 10000$ // Risk_Percent=3 // Divisor_Long=8
Current account balance 16000$=10000 starting + 6000 profit (5000 on buys and 1000 on sells)
Calculation of the next buy position:
Risk 1 (based on Risk_Percent)= 16000$ x 3% = 480$
Risk 2 (based on Adaptive_MM)= Profit on buys/Divisor_Long=5000/8=625$
=>>> Risk 2 (based on Adaptive_MM) is greater than Risk 1, therefore the expert advisor will set the order lot based on the risk amount obtained in the Adaptive_MM calculations.

MM2: ReInvest Money-Management

MoneyManagement_Variant= 2 – the expert advisor will risk a fixed number of deposit currency units per trade + a percentage of all previous profits/losses of the expert advisor. Calculated separately for buys and sells.

BasicRisk_L – fixed risk in the deposit currency per buy trade.

BasicRisk_S – fixed risk in the deposit currency per sell trade.

Reinvest_PcL – what percentage of all profits/losses on all buy orders to add to the fixed risk for buys (BasicRisk_L)

Reinvest_PcS – what percentage of all profits/losses on all sell orders to add to the fixed risk for sells (BasicRisk_S)

MaxRisk_PcL, MaxRisk_PcS – the maximum allowable percentage risk per trade as a percentage of the balance (for buys and sells separately) when using ReInvest Money-Management.

MM3: Fixed Lotsize per Trade

MoneyManagement_Variant= 3 – the expert advisor will trade with a fixed lot. For sells and buys, the lot is set in separate parameters

Lots_Long, Lots_Short – fixed lot for buy and sell trades respectively.

OrderOpen_withSLTP – analogous to the ECN parameter. If set to true, then take-profit and stop-loss will be added at the moment of opening the order; if false, then after the order is opened. If in doubt, leave false – it works on all account types.

Break_After_SL – a break (in minutes) in the operation of the expert advisor after the full stop-loss is triggered.

Auto_Trade_Open – allow/disallow the GloryChampion expert advisor to open positions automatically (without confirmation from the user).

Auto_SL_Management, Auto_TP_Management – the ability to disable automatic take-profit and stop-loss control by the expert advisor and set them manually. For advanced users only!!!

There are also settings for limiting the expert advisor's trading by time, do not change anything if you do not understand what you are doing!!!

MaxSpread - the maximum spread value at which the expert advisor will make trades. For example, if you set 5 in this parameter, then with a spread above 5 points, the expert advisor will not trade, and will open positions only when the spread is below 5.

Slippage - allowed slippage (in points).

My opinion of GloryChampion is extremely positive; there are no negative reviews of it online, although it has been on sale for quite a long time. Without a doubt, the expert deserves attention.

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Best regards, Pavel TradeLikeaPro.ru