In the “Verification by backtesting" series, we verify the performance of free EAs registered in the MQL5 community from the backtesting results. We hope it will help you choose EA.
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The 20th is “Gold Multiply Funds EA".
About the Gold Multiply Funds EA
Quoting from MQL5 official page
Introducing the Gold Multiply Funds EA – a revolutionary trading tool that is based on the powerful principle of compounding. Before reading further check my backtest analysis Click here to view
EA for XAUSUD: AI & machine learning detect/respond to market trends with precision.
- Advanced pattern recognition using AI and Machine learning for profitable trades
- 65-70% correct prediction accuracy in 10 years of data
- Compounding strategy generates steady profits
- Small gains through compounding lots on every 175 USD
- Initial investment of 200 USD grows to 100k USD in a year
- Minimizes risk of account wipeouts because of fixed TP and SL
- Extensive testing and analysis show consistent profitability
- Symbol: Any XAUUSD symbol
- Working Timeframe: 30 minutes
- Minimum Deposit: $200 recommended but can work with $100 also
- Leverage: 1:500 but can work with 1:200 or less too
- Preferred Broker: Vantage Markets Limited ( my personal choice )
Use centralized data for order calculation : TRUE/FALSE
- If set to TRUE, the EA will use my centralized data for all calculations, ensuring that you receive the same trades as my account. I am using VantageFx as my broker.
- If set to TRUE, then copy the following url ( http://candlestick.finovics.com/homepage/feed ) in allow web request Options >> Expert Advisor >> Tick Allow WebRequest for listed Url >> Add below URL >> Ok
- If set to FALSE, the EA will use your broker’s data for all calculations.
Lot Size for Compounding: 0.01
- This means that for every compounding value, the EA will place a 0.01 lot trade. For example:
- If the account balance is $175, it will place a 0.01 lot trade.
- If the account balance is $350, it will place a 0.02 lot trade and so on.
- If the account balance is $520, it will place a 0.03 lot trade (rounded off).
Compounding balance value : $175
- This means that the EA will compound at every $175 balance.
Maximum order count : 2
- This means that the maximum number of orders at one cycle will be 2.
Take Profit : 150
Stop Loss : 120
Max spread to take orders : 100
Start time (hrs) : 04
End time (hrs) : 23
- Based on VanatgeFx server time which is GMT+3 (Daylight Saving Time begins)
- If your broker timezone is GMT+2 then modify the Start time (hrs) : 03 and End time (hrs) : 22
- If your broker timezone is GMT+1 then modify the Start time (hrs) : 02 and End time (hrs) : 21 and so on
Comments : “Gold_Multiply_v2.1"
*The magic number is “2709“, which seems to be specified within EA. Please note that if you place different EAs on the same account, you should avoid overlapping magic numbers.
Example of Operation of “Gold Multiply Funds EA"
The logic of this EA is unknown except for “advanced pattern recognition using AI and machine learning".
Therefore, we will introduce the results of backtest analysis by the author.
- Open an account of $200 on the first day of every month with the default setting.
GMT shift value of NOZAX
- Winter Time/Daylight Saving Time=+1/+2
When operating with NOZAX, it is necessary to change Start time=3 and End time=22.
- In other words, you open an account every month and increase your investment account.
One year later, you will have 12 accounts with different start times, and the balance will be the total of them.
The investment amount is up to $2,400 per year, and according to the 2022 backtest results, the year-end balance will be more than $8,000,000.
* This is based on the backtest results and does not guarantee the future.
Backtesting the Gold Multiply Funds EA
- Account: NZX Zero (ECN) (NOZAX)
- Currency Pair: XAUUSD#
- Time frame: M30
- Initial Balance: $200
- Parameters: Default except Start time=3 and End time=22
- Period: 1 January 2020 – 31 December 2022
In my environment, historical data of XAUUSD is only available for about 3 years, so I cannot verify it before 2020, but it seems that it can be at least the last 3 years. In the past, machine learning was one of the causes of over-optimization, but I think it is also a good example of how good AI has become these days.
It may be a “lottery", but how about a bite?