BITEX.ONE MarketMaker
BITEX.ONE MarketMaker is an Expert Advisor that implements a market making strategy by placing buy and sell limit orders around the current market price, profiting from the bid-ask spread and short-term price oscillations. It continuously manages order placement at configurable distances from the mid-price and adjusts positions based on market movement. The EA aims to capture small, frequent profits from price reversion to the mean within a defined range.
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: Elevated
- Has no stop loss or trailing stop
- Can hold up to 2 positions at once
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
This EA implements a market making strategy concept by symmetrically placing limit orders above and below the current price to capture spread profits. Entry conditions are triggered when price deviates from the mid-price by a configured distance — buy limit orders fill when price drops to the lower level, and sell limit orders fill when price rises to the upper level. Exit conditions rely on take-profit and stop-loss settings, closing positions profitably when price reverts to target levels or cutting losses when price continues moving adversely. Position sizing uses either fixed lots or dynamically adjusted lot sizes based on configuration parameters, symmetrically arranging buy and sell orders around the mid-price. Money management involves maximum position limits and stop-loss controls to manage overall risk exposure, though market making strategies can face sustained losses in trending markets. The core assumption of this strategy is that price will revert to the mean in the short term, but sharp volatility or strong trends can trigger consecutive stop-losses.
Strengths
- Market making strategy can generate consistent profits in ranging markets, capturing small but frequent gains from the bid-ask spread
- Limit order entries ensure favorable entry prices, avoiding slippage issues associated with market orders
- Symmetric buy/sell order placement provides dual-direction profit opportunities without requiring market direction forecasting
Weaknesses
- In trending markets, the market making strategy faces significant directional risk, potentially triggering consecutive stop-losses leading to large losses
- Lacks a trend filter, unable to automatically reduce directional exposure or pause market making when a trend forms
- Frequent order management and refresh operations may increase transaction costs, and slippage risk grows during high-volatility periods
Possible improvements
- Add a trend filter (e.g., moving average direction or ADX indicator) to automatically reduce directional exposure or pause market making during strong trends
- Implement dynamic order distance adjustment that automatically widens or narrows the gap between limit orders and mid-price based on market volatility (ATR)
Risk assessment
Overall risk: Medium
- Market making strategy faces sustained directional risk in trending markets, where multiple stop-losses can be triggered consecutively
- Lacks trend identification and adaptive mechanisms, unable to automatically adjust strategy parameters in unfavorable market conditions
Evaluation scores
Parameters
| Parameter | Default | Description |
|---|---|---|
OrderDistance | N/A | Limit order distance from midpoint in points |
TakeProfit | N/A | Overall take profit target in points |
StopLoss | N/A | Stop loss in points |
LotSize | N/A | Trade lot size per order |
MaxOrders | N/A | maximumpending order count |
RefreshInterval | N/A | Order refresh interval in seconds |
MagicNumber | N/A | EA magic number for trade identification |
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Backtests are historical simulations and do not guarantee future results. Not financial advice.