VERACITY EURUSD 1H Expert Advisor
Currency Pair:
Design Principles:
System Logic:
Robust systems typically have a simple trading logic. The Veracity EA utilizes the MACD Indicator to determine a beginning trend (which is indicated by the MACD crossing its Signal Line) and then enters via Stop Buy or Stop Sell orders which are calculated from Heikin Ashi Candles and the Average True Range indicator.
Trade Management:
The EA places a Stop Loss of 90 pips and utilizes a variable Profit Target, based on the Average True Range. In addition a Trailing Stop of 75 pips is applied to track profits.
Money Management:
The Veracity EA is equipped with two money management options:
1. Fixed lot size:
With this money management strategy the expert advisor will trade with a fixed number of lots. This setting is typically used during the development of a new strategy as it allows to compare results between different systems. For real live trading, however, fixed lot size is not recommended since it doesn´t allow an EA to unfold its real potential by compounding profits.
2. Risk a fixed percentage of Account:
This is an advanced money management strategy that is recommended for real trading. The strategy will risk a given percentage of equity on every trade. This is a very effective money management strategy that will allow the expert advisor to increase the number of lots as the account grows. It is generally recommended to risk a maximum 2-5% of account equity per one trade.
Backtest Results – Fixed Lot Money Management
EURUSD
Period: 2000 – 2022
Risk: Fixed Lots (0.1 Lot)
Deposit: 3000 €
5501 €
Net Profit
1.39
Profit Factor
13.48 %
Max. Drawdown
54.1 %
Profit Trades
603
Total Trades
Backtest Results – Risk Fixed Percentage of Account Money Management
EURUSD
Period: 2000 – 2022
Risk: MM 2% of Account
Deposit: 3000 €
5703 €
Net Profit
1.40
Profit Factor
14.1 %
Max. Drawdown
54.5 %
Profit Trades
593
Total Trades
Most Recent Results (Live and Backtest)
1. Live Trading Results (Trade.MT4 Account, Admiral Markets, 0.1 Lot)
2. Backtest (Trade.MT4 Demo Account, Admiral Markets)
Backtest Results – Risk Fixed Percentage of Account Money Management
EURUSD
Period: Jan 2020 – Jul 2022
Risk: MM 5% of Account
Deposit: 3000 €
286 €
Net Profit
1.15
Profit Factor
18.15 %
Max. Drawdown
60.0 %
Profit Trades
60
Total Trades
Activation and Money Management Settings
Activation
Your Expert Advisor must be activated before you can use it.
With your license you can use any and as many Expert Advisors as you like on:
1 real money account or 1 demo account, but not at the same time.
To activate, please enter the license key that you will find in your account („My Account“). In addition, enter the e-mail address that you provided when registering for your membership.
Money Management Settings:
1. Fixed Lot Size (no money management):
Set „UseMoneyManagement“ to false.
Set „mmLotsIfNoMM“ to the Lotsize you wish (Default: 0.1 Lots).
2. Risk Fixed Percentage of your Account
This money management mode will never risk more than the percentage of your account you enter in the settings. But you will benefit of the power of compounding as the expert advisor will increase the lot size as your account grows.
Set „UseMoneyManagement“ to true.
Set „mmRiskPercent“ to the percentage of your account which you want to risk with any new trade. Recommended values range from 1 (low risk) to 5 (high risk).
You may set the „mmMaxLots“ to any value you want. This is mainly determined by the size of your trading account and sets a maximum lot size that is being traded.
Download Installation Package
To start the download of the Trading Robot, click on „Download Installation Package“. Then unpack the downloaded ZIP file. This contains two folders:
- Indicators in the „Indicators“ folder
- The Expert Advisor itself in the „Expert Advisor“ folder.
Unzip the two folders and save the files on your PC.
Follow these step-by-step instructions to install the Expert Advisor and the associated indicators on your MT4 platform.