Exp_ForecastOscilator
This EA trades based on the ForecastOscilator custom indicator, opening buy positions on upward oscillator signals and sell positions on downward signals. It supports configurable money management modes, stop loss/take profit, and separate toggles for entry and exit signals. The strategy is a signal-based momentum system with optional reverse-signal exit logic.
Open the interactive view (equity curve, symbol switch)Key facts
Backtest results (H1, about 1 year)
Not backtested yet — this EA could not be converted automatically.
Strategy analysis
The strategy concept is based on the ForecastOscilator custom indicator, which generates trend momentum signals using a T3 smoothing algorithm with configurable length and volume factor parameters. Entry conditions: when indicator buffer 3 (upward crossover signal) is valid, a buy position is opened; when buffer 2 (downward crossover signal) is valid, a sell position is opened, with each direction's entry and signal detection independently toggleable. Exit conditions include two mechanisms: reverse-signal exits (buy close triggered by downward signal, sell close triggered by upward signal) and stop loss/take profit exits. Position sizing is handled via the TradeAlgorithms.mqh library supporting five modes: free margin percentage, balance percentage, loss-adjusted free margin, loss-adjusted balance, and fixed lot size. Money management uses the MM parameter to control risk ratio (default 0.1 = 10%) combined with MMMode to select the specific calculation method. The exit logic includes a historical lookback mechanism: when both entry and exit are enabled but no current exit signal exists, the EA traverses historical bars to find earlier reverse signals for exit decisions, adding flexibility but also introducing backtest-vs-live consistency risks.
Strengths
- Independent entry and exit toggles provide flexibility — can use signal-only entries with SL/TP exits, or signal-only exits without new entries
- Five money management modes accommodate different risk preferences
- Uses confirmed bar (SignalBar=1) for signal detection, avoiding repainting and repeated trades from current bar flickering
- Separate stop loss and take profit parameters give clear risk control boundaries
- New bar detection via CIsNewBar prevents redundant signal processing within the same bar
Weaknesses
- The historical bar lookback logic for finding reverse signals is complex and may cause backtest-vs-live inconsistency, as historical signals may only be discovered on subsequent bars in live trading
- Depends on external custom indicator ForecastOscilator and TradeAlgorithms library — without these files the EA cannot run, hurting portability
- No spread filter or trading session filter, potentially executing trades during high-spread or illiquid periods
- Default SL=1000 and TP=2000 points are excessively large for many instruments and lack adaptive sizing
- No existing position check logic, potentially opening duplicate positions in the same direction
Possible improvements
- Add position check logic before opening trades to confirm no existing same-direction positions, preventing duplicate entries
- Add spread filter and trading session filter to avoid unfavorable execution conditions
- Remove or simplify the historical bar lookback exit logic, using only current bar signal for exit decisions to improve backtest-vs-live consistency
Risk assessment
Overall risk: Medium
- No position check may lead to duplicate entries and over-concentrated risk
- Historical bar lookback exit logic may behave inconsistently between backtesting and live trading
- Default SL/TP point values are very large without instrument-specific volatility adaptation
Evaluation scores
Parameters
| Parameter | Default | Description |
|---|---|---|
MM | 0.1 | Money management ratio or lot size |
MMMode | LOT | MM mode: free margin / balance / margin w/ loss / balance w/ loss / fixed lot |
StopLoss_ | 1000 | Stop loss in points |
TakeProfit_ | 2000 | Take profit in points |
Deviation_ | 10 | Maximum allowable slippage |
BuyPosOpen | true | Allow buy position opening |
SellPosOpen | true | Allow sell position opening |
BuyPosClose | true | Allow buy position closing (reverse signal) |
SellPosClose | true | Allow sell position closing (reverse signal) |
InpInd_Timeframe | PERIOD_H12 | ForecastOscillator indicator timeframe |
length | 15 | ForecastOscillator length parameter |
t3 | 3 | T3 smoothing algorithm period |
b | 0.7 | T3 smoothing volume factor |
IPC | PRICE_CLOSE_ | Price type used for indicator calculation |
SignalBar | 1 | Bar index for signal judgment (0 = current, 1 = completed) |
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Backtests are historical simulations and do not guarantee future results. Not financial advice.