Exp_SimpleBars
This EA trades based on signals from the custom SimpleBars indicator, which analyzes bar color patterns over a configurable period. It opens buy positions when the indicator signals a bullish shift and sell positions on a bearish shift, with configurable stop loss, take profit, and money management options. The strategy only processes signals on new bars to avoid redundant entries.
Open the interactive view (equity curve, symbol switch)Key facts
Backtest results (H1, about 1 year)
| Symbol | P&L | Annual | Max DD | Trades | Win rate | Sharpe | Recovery | Losing streak | Per trade | Status |
|---|---|---|---|---|---|---|---|---|---|---|
| EURUSD | 0.00% | 0.00% | 0.00% | 0 | — | — | — | — | — | Not convertible yet |
| GBPUSD | 0.00% | 0.00% | 0.00% | 0 | — | — | — | — | — | Not convertible yet |
| USDJPY | 0.00% | 0.00% | 0.00% | 0 | — | — | — | — | — | Not convertible yet |
| XAUUSD | 0.00% | 0.00% | 0.00% | 0 | — | — | — | — | — | Not convertible yet |
Why this EA never traded: no entry rule survived the conversion.
Converted from MQL5 to Python and run with the same rules for every EA. Positions use MT5 lot sizes (100,000 units per FX lot, 100 oz per gold lot) with 1:100 leverage, one order at a time, and a stop-out below 10% of the starting balance. Sharpe is computed from the equity curve. Results marked as unreliable are shown for completeness only.
Blow-up risk: No blow-up pattern found
None of the usual blow-up patterns were found in the code, and the account was not stopped out in our backtests. That is not a guarantee: any EA can lose money.
High: stopped out in our backtest, or martingale/grid sizing without a stop loss. Elevated: martingale or grid sizing with a stop loss, or several positions at once without a stop loss. What the label means and what we found →
Strategy analysis
The strategy generates trade decisions based on signals from the SimpleBars custom indicator, which analyzes bar color patterns. Entry conditions: when indicator buffer 4 reads 0 with the previous bar reading 1, a buy open signal is generated; when it reads 1 with the previous bar reading 0, a sell open signal is generated. Exit conditions are triggered by opposing signals closing existing positions, combined with fixed stop loss and take profit in points. Position sizing supports multiple modes including percentage of free margin, percentage of balance, percentage after loss adjustments for both free margin and balance, and fixed lot size. Money management is controlled via the MM parameter and MMMode enumeration to regulate risk exposure per trade. The strategy employs an IsNewBar mechanism to ensure signal calculation occurs only once per bar period, preventing redundant trades within the same bar. Overall, the strategy logic is straightforward, representing a typical bar-color trend following approach.
Strengths
- Strategy logic is clean and straightforward, based on bar color trend following, easy to understand and maintain
- Supports multiple position sizing modes, flexibly adapting to different risk preferences
- Uses new bar detection mechanism to prevent redundant trades within the same bar, reducing unnecessary trading frequency
- Configurable stop loss and take profit parameters provide a basic risk control framework
- Buy/sell open and close can be independently toggled, offering granular control over trading direction
Weaknesses
- Depends on an external custom SimpleBars indicator, increasing deployment complexity and dependency risk
- Uses fixed point stop loss/take profit rather than dynamic indicators like ATR, which may be unsuitable across varying volatility environments
- Lacks spread filter mechanism, which can lead to unfavorable fills in high-spread conditions
- No maximum position count limit or consecutive loss protection mechanism
- Simple indicator signal logic may generate frequent false signals in ranging markets leading to repeated losses
Possible improvements
- Introduce ATR-based dynamic stop loss/take profit to replace fixed points, adapting to different market volatility
- Add spread filtering and maximum position count limits to enhance risk control capabilities
Risk assessment
Overall risk: Medium
- Fixed stop loss/take profit may be disproportionately large in low-volatility markets causing unnecessary losses
- Lack of spread filtering can produce unfavorable fills during high-spread periods
- Frequent bar color changes in ranging markets may cause repeated open/close cycles leading to consecutive losses
Evaluation scores
Parameters
| Parameter | Default | Description |
|---|---|---|
MM | 0.1 | Money management parameter controlling position size ratio |
MMMode | LOT | Lot sizing mode: Free margin/Balance/Post-loss margin/Post-loss balance/Fixed lot |
StopLoss_ | 1000 | Stop loss in points |
TakeProfit_ | 2000 | Take profit in points |
Deviation_ | 10 | Maximum allowed slippage in points |
BuyPosOpen | true | Allow buy position opening |
SellPosOpen | true | Allow sell position opening |
BuyPosClose | true | Allow buy position closing |
SellPosClose | true | Allow sell position closing |
InpInd_Timeframe | PERIOD_H6 | Indicator calculation timeframe |
rperiod | 6 | SimpleBars indicator period |
useclose | true | Use close price in indicator calculation |
SignalBar | 1 | Bar index for trade signal retrieval |
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Backtests are historical simulations and do not guarantee future results. Not financial advice.