Exp_Loco
This EA trades based on signals from the custom 'Loco' indicator, opening buy positions when the indicator crosses above zero and sell positions when it crosses below one. It uses a new-bar detection mechanism to avoid redundant signals and supports configurable money management, stop loss, and take profit. The strategy operates on a configurable timeframe with separate toggles for opening and closing long/short positions.
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 core strategy of this EA trades based on momentum signals from the custom Loco indicator. Entry conditions are: a buy signal triggers when indicator buffer 1's value transitions from 0 to above 0, and a sell signal triggers when it transitions from 1 to below 1, essentially forming a momentum crossover strategy. Exit conditions include closing positions on reverse signals (closing sells on buy signals and closing buys on sell signals), as well as traditional stop loss and take profit mechanisms. Position sizing is controlled via the MM parameter which sets the lot ratio, supporting both fixed lot (LOT) and margin-based modes. Money management relies on the TradeAlgorithms.mqh library's BuyPositionOpen and SellPositionOpen functions, passing signal time, lot size, stop loss, and take profit parameters to the trade execution module. The strategy uses an IsNewBar mechanism to ensure signals are calculated only once per bar, avoiding tick-level duplicate trades, and checks BarsCalculated to verify indicator readiness before proceeding.
Strengths
- Separate toggle switches for buy/sell opening and closing provide high flexibility
- New bar detection mechanism prevents duplicate signals and overtrading
- Configurable stop loss and take profit parameters provide basic risk control
- Support for multiple applied price types enhances indicator adaptability
- Trade execution logic encapsulated in TradeAlgorithms library keeps code structure clean
Weaknesses
- Depends on custom Loco indicator whose internal logic is opaque and unauditable
- No explicit position check before opening new trades, risking duplicate positions
- Default SL of 1000 and TP of 2000 points are large and may not suit all instruments
- No spread filter, which could be detrimental in high-spread environments
- Signal logic is overly simplistic (comparing only against 0 and 1), lacking multi-layer confirmation
Possible improvements
- Add position check logic to prevent duplicate entries in the same direction
- Add spread filter condition to avoid entering trades during high-spread periods
- Implement multi-indicator confirmation mechanism to improve signal reliability
Risk assessment
Overall risk: Medium
- No explicit position check may lead to duplicate entries
- Dependency on opaque custom indicator creates black-box risk
- Lack of spread filter and insufficient slippage protection
Evaluation scores
Parameters
| Parameter | Default | Description |
|---|---|---|
MM | 0.1 | Money management ratio or lot size |
MMMode | LOT | Lot mode (fixed/balance/equity/free margin/margin drawdown) |
StopLoss_ | 1000 | Stop loss in points |
TakeProfit_ | 2000 | Take profit in points |
Deviation_ | 10 | Maximum allowed slippage |
BuyPosOpen | true | Allow opening long positions |
SellPosOpen | true | Allow opening short positions |
BuyPosClose | true | Close long on reverse signal |
SellPosClose | true | Close short on reverse signal |
InpInd_Timeframe | PERIOD_H8 | Indicator operating timeframe |
SignalBar | 1 | Signal bar index (0=current, 1=last closed bar) |
Length | 1 | Loco indicator length period |
IPC | PRICE_CLOSE_ | Price type for indicator calculation |
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Backtests are historical simulations and do not guarantee future results. Not financial advice.