Exp_XOSignal_ReOpen
This EA trades based on XOSignal (Point & Figure) indicator signals and implements a ReOpen mechanism that adds to existing positions when the signal persists. It opens buy positions on X (cross) signals and sell positions on O (circle) signals from the Point & Figure chart, with the ability to re-enter or add positions on subsequent confirmations.
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 core strategy of this EA is based on the Point & Figure (XO chart) indicator signal, which is a classic chart analysis method that filters market noise to identify trend direction. Entry conditions: open long positions when the XOSignal indicator produces an X signal (bullish breakout), and open short positions when it produces an O signal (bearish breakout). The ReOpen mechanism is the distinctive feature of this EA — when the trend signal continues to confirm, it allows opening additional positions in the same direction on top of existing positions, thereby capturing larger profits during trending markets. Exit conditions primarily rely on the appearance of a reverse XOSignal; when the indicator produces an opposite signal, the existing position is closed and a new position may be opened in the reverse direction. Position sizing is controlled through the ReOpen parameter which governs whether additional entries are permitted and under what conditions, while the actual lot size calculation depends on an external position sizing module or fixed lot settings. Money management provides stop loss and take profit parameters, but the core risk control relies on XOSignal reversal signals, and the ReOpen mechanism may lead to overexposure during strong trends.
Strengths
- Based on the Point & Figure indicator which effectively filters market noise and identifies genuine trend breakouts
- The ReOpen mechanism allows adding positions after trend confirmation, maximizing profits during strong trending markets
- Supports a money management module that can automatically adjust position sizing based on account risk
- Signal logic is clear and unambiguous — X signal for longs, O signal for shorts with well-defined rules
- The Point & Figure method has a long historical track record and statistical reliability
Weaknesses
- The ReOpen pyramiding mechanism can lead to multiple layered losses during trend reversals, concentrating risk excessively
- Stop loss and take profit default to 0, meaning without manual settings the EA relies entirely on reverse signals for exit, which is risky
- Point & Figure indicator parameters (box size, reversal count) have extreme impact on results, making the strategy highly parameter-sensitive
- Lacks a new bar check mechanism, potentially opening repeated positions on the same bar
- In ranging markets, XOSignal may flip frequently producing false signals that lead to consecutive losses
Possible improvements
- Add a maximum re-open count limit and total position cap to prevent the ReOpen mechanism from causing overexposure
- Implement a new bar check to avoid repeated entries on the same bar, and add a spread filter condition
- Introduce ATR-based dynamic stop loss instead of fixed pip stops, adapting stop levels to market volatility
- Add a trend filter condition (e.g., higher timeframe MA direction confirmation) to reduce false signal trades in ranging markets
Risk assessment
Overall risk: Caution
- The ReOpen pyramiding mechanism may cause cascading multi-level losses during trend reversals, rapidly amplifying risk exposure
- Default stop loss and take profit are zero, providing no hard risk control protection unless manually configured
- Lack of new bar check may cause over-trading through repeated entries on the same bar
Evaluation scores
Parameters
| Parameter | Default | Description |
|---|---|---|
ReOpen | true | Allow re-entry to add position in same direction |
StopLoss | 0 | Stop loss in points, limits max loss per trade |
TakeProfit | 0 | Take profit in points, locks profit target per trade |
Lots | 0.1 | Fixed trading lot size |
MoneyManagement | false | Enable money management for auto lot sizing |
RiskPercent | 1.0 | Risk percentage under money management mode |
XOSignal_BoxSize | 0 | Point and figure box size parameter |
XOSignal_Reversal | 3 | Point and figure reversal box count |
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Backtests are historical simulations and do not guarantee future results. Not financial advice.