RatRoller Free EA for Metatrader! Expert Advisor
RatRoller is an automated trading robot for Metatrader. This expert advisor is a fusion of two concepts. The Rat Trader concept limits entries to reversals off the daily highs and lows. The Snow Roller concept is to build up a large number of orders in the direction of a trend and to close them when a large equity pop occurs. By combining the two concepts, it should be possible to have more precise entries with this Metatrader expert advisor, while still allowing the anti-grid of trades to build up in the direction of a large move. The net impact should be faster equity pops when a basket of currency crosses starts to trend.
Stops are based on the daily high or low. If you set the stop loss to 10 pips then it will set the stop 10 pips beyond the daily high for shorts or below the daily low in the case of long positions. Many of the settings are the same as on SnowRoller, so consult the SnowRoller inputs for more information.
It should make no difference what time frame you apply the Metatrader expert advisor to. I have started my testing with M1 charts, but you can select whatever time frame suits you.
The MQL4 code is attached in both viewable MQ4 and executable EX4 format below by version for free download and use. Download the free MT4 expert advisor now! You may post this MT4 expert advisor to other sites, but if you do, you must post a link to this page directly and you may not sell it or the source code. You are otherwise free to copy, use and distribute this MT4 expert advisor for non-commercial use. Place the RatRoller MT4 expert advisor and/or the .EX4 file in your experts folder. Please see the MQL4 code for additional licensing information. The current version is 1.002.
After a month of testing I've come to the conclusion that RatRoller version 1.002 is a better performer than the other versions I've tested so far, and that for a limited set of symbols, that it has potential. The picture to the left shows Basket_Stats summary totals for RatRoller expert advisor version 1.002 forward tested 4/29/11-6/3/11. Although the total result is a net loss, it is clear there are some symbols that perform well with this expert advisor. As a result, I'm going to start forward testing a limited set of symbols to see how the performance holds up. The symbols I plan to forward test include (generally the forex crosses showing net green):GBPJPY
USDJPY
GBPUSD
USDCHF
EURCHF
GBPCHF
AUDUSD
Two companion tool MT4 indicators called Basket Stats and its sequel, Basket_Stats_Time have been created to help identify which forex currency cross is adding to the profits and losses from the strategy, and what time of day provides the best opportunity for trading your expert advisor. It is intended that you add Basket Stats and Basket_Stats_Time to two of your charts for easy monitoring of the profit and loss and time of day statistics. Basket Stats and Basket_Stats_Time MQL4 code is available.
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