Accelerator Bot for USDJPY H4 Expert Advisor For MT4

Accelerator Bot for USDJPY H4 Expert Advisor For MT4



PLEASE NOTE: This expert advisor was publicly available for free usage on other websites and is not programmed by us. We explain the functionality and possible improvements of the EA. Furthermore, we are convinced that fully automatic Expert Advisors will fail in the long run. On the other hand, our semi-automatic approach with detecting the best setups and then activating our Expert Advisors (e.g. V-Power EA, EdgeZone EA) produced many successful traders and some of them even got prop traders at prop trading firms. Therefore, we added a similar semi-automatic trading feature (to allow only buy or only sell trades) to the free Expert Advisors. You can download the modified version here and enjoy!


The Accelerator Bot for USDJPY H4 Expert Advisor For MT4 is designed for use in USDJPY four-hour chart, but it can be applied to any symbol and timeframe after thorough testing and optimization. To generate a signal for entry, the expert advisor makes use of several built-in MT4 technical indicators, including stochastic, average directional movement index and accelerator oscillator. This trading system is named after one of the technical tools developed by Bill Williams, that is, accelerator oscillator.

The accelerator oscillator was designed to detect early signs of market reversals. It was based on the assumption that before price makes a turn, momentum change precedes this action. This means, for example, that if the current trend is up, the momentum must slow down before price turns the other way. If the trend is down, momentum must change before price turns around to the upside. To qualify the trade signal provided by the accelerator oscillator, the trading system gathers other well-known technical indicators into the mix.

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The Accelerator Bot for USDJPY H4 Expert Advisor For MT4 – Entry Criteria

The Accelerator Bot for USDJPY H4 Expert Advisor does not perform much preliminary checking prior to looking for trade entries. Before the trade exploration begins, the expert advisor checks the trading account if there is any order in the active symbol and if such trade can be closed. If none, it embarks on a quest for trade signals. The expert advisor opens one trade at a time and only when a new candle has formed on the current timeframe and symbol.

The user is provided with a few parameters in Inputs that he can adjust at will. This way he can control some aspects of the trading operation. Since some parameters are difficult to figure out, only the following variables are provided and explained in the list below:

  • magicalNumber = 24542789 – Each trade taken by this expert advisor has this magic number for trade identification and management.

  • StopL = 750 – The stop loss of trades is 750 points (or 75 pips).

  • TakeProfit = 10000 – The take profit of trades is 10,000 points (or 1,000 pips).

  • slippage = 3 – This means that the maximum deviation allowed from requested price to executed price is three points.

  • Lots = 0.01 – The static lot size of trades is 0.01.

  • Trailing = 0 – Stop trailing is triggered when a trade gains this number of points. Since the default value is zero, stop trailing is not performed by the robot.

  • percent = 0.02 – This is the percentage (in decimal) of the account balance at risk on each trade.

  • AutoLots = True – Since this parameter is true, the expert advisor uses dynamic lot sizing on each trade, which is a factor of the account balance.

  • ADXP = 14 – This is the period of the ADX indicator in use in this trading system.

  • ADXS = 20 – This is the minimum value of the ADX required for trade entry.

The trading system makes use of several technical indicators to find and confirm a trade entry. All the signals provided by each indicator must be in agreement so that a trade entry can be decided. The indicators used and how the signals are generated from each are explained below:

  • Accelerator oscillator – This indicator is one of the technical analysis studies developed by Bill Williams and is built in MT4. The accelerator value is obtained from the current candle and symbol. If the value is greater than zero, the signal is bullish. If the value is less than zero, the signal is bearish.

  • Stochastic oscillator (8, 3, 3, smoothed averaging) – In this trading system, the stochastic is employed as one trade filter. First, the values of the main line and signal line are obtained and compared. The values are obtained from the previous bar of the active timeframe and symbol. If the main line is above the signal line, the signal is bullish, but if the main line is below the signal line, the signal is bearish.

  • Average directional movement index (period 14, price high) – The value of the ADX is obtained from the current candle of the underlying symbol and period and for the main ADX line. The ADX is used for confirmation only of a trade signal generated from other indicators. If the ADX is greater than 20, a trade signal is considered for entry. Otherwise, a trade signal is discarded.

Once the technical indicators have given and confirmed a trade entry, the expert advisor initiates a trade with a position size corresponding to two percent of the account balance. This is because automatic lot sizing is enabled. Because of this, the lot size varies on each trade, and goes up and down as the account balance grows or shrinks. Upon trade entry, the expert advisor specifies the take profit and stop loss of the trade. While the stop loss assigned is 75 pips, the take profit set in place is 1,000 pips.

The Accelerator Bot for USDJPY H4 Expert Advisor For MT4 – Exit Criteria

The Accelerator Bot for USDJPY H4 Expert Advisor actively manages the trade entries. Most trades are directly closed by the expert advisor. Seldom do trades are closed by the stop loss, and never have they reached take profit. Because of this active involvement of the expert advisor in trade closure, open trades have short durations. It can be said that this trading system is a scalper if not for the fact that the program runs on the four-hour timeframe.

Trades opened by the expert advisor are closed by the same signals used for entry. If a trade has been running and an opposite signal is come by, the trade is closed right away, and the robot does not wait for the trade to become a winner prior to closure. Win or loss, the trade is closed by an opposite signal. As observed in testing, more trades are closed in loss in this manner than trades closed in profit.

The Accelerator Bot for USDJPY H4 Expert Advisor For MT4 – Room for Improvement

The Accelerator Bot for USDJPY H4 Expert Advisor looks like a sophisticated algorithmic trading system, judging by the intricacy of the program code and the number of technical indicators in use when generating a signal for trade entry or exit. However, upon closer look, the code seems old and wanting. The overall style of coding is old-fashioned, and some functions or statements are defined but not used at all. For example, the ATR and moving average indicators are written in the code, but they are not utilized when the expert advisor defines a trade entry.

Running the trading system in the strategy tester over five months of historical data using the preferred timeframe and symbol resulted in loss and negative overall prospect. The main problem was the low win rate of around 27 percent. Since the expert advisor does not attempt to strike a good balance between risk and reward and open trades are closed directly by the robot, it requires a high winning percentage to be able to deliver positive results. The 27 percent winning rate did not make up for the unfavorable risk-reward balance.

There is one function available in the trading system that is not used in testing as it is disabled by default. This function is the trailing stop. The user might want to try out this function to see if it changes the result obtained in this testing. To do this, the user must change the value of the Trailing variable in Inputs to anything higher than zero.


FREE Accelerator Bot for USDJPY H4 EA

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