You can now download the Spike Trader Expert Advisor for free on AtoZ Markets indicators gallery. This expert advisor is available for both MT4 and MT5.
Spike Trader is an expert advisor for Forex. A spike is defined as a candlestick, which is higher than the BarsNumber of previous candles, higher than the previous candlestick by PercentageDifference percent, and which is closed near its bottom (ThirdOrHalf). For a bullish signal, the conditions are opposite. The position is kept open until the Hold is closed or a new signal in the opposite direction is generated. When a new signal appears in the same direction, no new position is opened, but the candlestick timer is reset.
Spike Trader Expert Advisor backtesting results
The demo test of the Spike Trader Expert Advisor on the MetaTrader 4 platform for a period of one year (2020) showed ~ 2.4% profit with ~ 2.14% maximum drawdown. The volume of used positions was set at 0.1 standard lots. EA concluded 12 trades, of which 58.33% were profitable. The test used the default settings on the EUR/USD H1 chart.
How to trade with Spike Trader Expert Advisor
If you are planning to use Spike Trader Expert Advisor with other currency pairs or timeframes, you should re-optimize it to get different values of the input parameters, especially the PercentageDifference parameter.
How to download and install an expert advisor
In order to install an expert advisor on your MT4 platform, you need to follow these steps:
- Click on the “Download Indicator” button located at the bottom of the screen.
- Save the file to your computer.
- Extract and move the files into the MT4>Experts folder of the MetaTrader4 software file directory.
- Restart your Metatrader platform.
- Find and activate “Spike Trader” Expert Advisor in the Navigator window.
Note: This Expert Advisor was developed by a third party. AtoZ Markets does not carry any copyrights over this trading tool.