Previous Next
English
Sponsored by FxPro
Feedback

Sauron_1_3

Developed by Giampiero Raschetti

The Sauron_1_3 uses Moving Average 1 period in four hours time frame period, linear weighted MA type and price applied to Typical Price. Also it takes two MACD in one day time frame, linear weighted.


DOWNLOAD

(6.92KB) Version Sauron_1_3

Expert Reviewed
Our rating: Rated 3 out of 5 stars
Avg rating: Rated 0 out of 5 stars
TypeEA
PairsALL
Time frames 4 H
Test profit -1
Test max drawdown -1
Market sessionsASIA, AMERICA, EUROPE
Required experiencebeginner
CompatibilityMT4
CodeSource Code
Details
LicenseFree
Price0 USD
Price description

Updated: 15/10/2010

Screenshots and Videos

Expert Reviews

Expert Technical Review

by Mario Nuonno - expert rating: Rated 4 out of 5 stars

How the software works

The Sauron_1_3, 1.3 version, uses Moving Average 1 period in four hours time frame period, linear weighted MA type and price applied to Typical Price. Also it takes two MACD in one day time frame, linear weighted.
With those indicators, the EA has two entry signals:

- One for a long term trend is detected with the slope of the Moving Average. The period of the moving average is given by the S1_MA_FAST parameter.
- The second signal is defined by a daily MACD. The period and all other MACD settings are given by the parameters: S2_OSMAFast, S2_OSMASlow, S2_OSMASignal.

Main settable options

The configurable options of this indicator are:

MaxStopLoss = 105 Value for stoploss in pips.
MinTakeProfit = 12 Value for takeprofit in pips.
lots =1 Lots to trade
UseHourTrade = true Enable/Disable hour trade restriction.
FromHourTrade = 21 start trading on this hour.
ToHourTrade = 18 end trading on this hour.
UseTimeBasedStopLoss = false Enable/Disable Time Based stoploss.
TradeHoldingPeriod = 23 Maximum holding period without profit.
S1_MA_FAST =1 Period for Moving Average indicator.
S2_OSMAFast =1 Period for OSMA indicator.
S2_OSMASlow = 22 Period for OSMA indicator.
S2_OSMASignal =9 Period for OSMA indicator.

Our technical verdict

It is a very good coded EA, and because of its simplicity, it is a very good example of how to code an EA for beginners.

Expert Usage Review

by Alberto Muñoz - expert rating: Rated 2 out of 5 stars

Sauron EA bases his entries in the crossover of two linear weighted moving averages, as well as MACD Signal crosses if chosen. Both entry rules overlap as they’re based on moving averages anyway so the info is practically the same.

Though this is a very example to learn programming EAs, as its code is very clean and simple, I wouldn’t recommend it to use as it is. Mainly you will need more filters to improve its performance (for example, what about some stop orders with price filtering after signals are confirmed) as well as any other indicators that confirm entries using additional info (for example, RSI, Stochastic, Williams’ %R, etc.) Also I’m missing some position sizing rules.

In conclusion, a good starting point to build your own EA but still needs a lot of work to be improved.
Loading. Please wait...
Email Print
Follow comments  

See all 0 comments

You have successfully subscribed to comments on this addon. You will receive email notifications when someone writes a comment here.

You can unsubscribe at any time from within each email.

Leave a Comment

Your Rating:    Log in to rate
Notify me when someone comments
Log in to comment -

The FXstreet.com’s Metatrader section only provides information about addons and acts like an open database of technical indicators, expert advisors and scripts. The Metatrader section, including addons, reviews and backtests, may also be subject to change without any previous notice. Addons, reviews and Backtests are for educational purposes only and are not meant to be interpreted as trading recommendations. All addons, backtests and reviews are developed by third part developers and FXstreet.com can not be held responsible for the eventual inaccuracies, losses and profits that might occur when using those tools. All Addons must be tested in a demo account before using in a real account.