MQL5 Free EA – Verification by backtesting 31 “Relative Price Channel EA 1 Lot″

MQL5 Free EA

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 31st is “Relative Price Channel EA 1 Lot“.

About “Relative Price Channel EA 1 Lot"

Quote from MQL5 official page

The trading robot based on the Relative Price Channel (RPC) indicator is an advanced tool that will help you automate your trading and increase the probability of successful trades. This robot has a number of features that make it unique and effective.

One of the main features of our robot is its intelligent position tracking. An open position is closed smoothly in three stages. After the second phase the stop loss is moved to the no-loss position. Such smart tracking allows you to significantly increase profits and reduce risks.

Another important feature of our robot is the ability to use hidden stop losses. This means that the robot does not set take profits, but closes trades on the market. Therefore, your targets are not available to your broker. This avoids so-called “stop-hunting" and prevents unwanted interference in your trades by the broker. Hidden stops provide extra protection and help preserve your capital.

Our trading robot is based on the Relative Price Channel indicator, which provides accurate and reliable signals. It is based on the analysis of price channels, which allows you to identify entry and exit points with a high probability of success.

Trading of “Relative Price Channel EA 1 Lot"

This EA trades based on the Relative price channel – indicator for MetaTrader 5 published in the codebase.

Stop Loss (SL) = 40, Take Profit 1-3 (TP1-3) = 25, 50, 75 are set by default.

  • An open position is divided into 3 equal parts and closed in 3 phases (Take Profit=25, 50, 75)
  • Example after the second phase (Take Profit=50), the Stop Loss moved to the breakeven position.

Screening of supported currency pairs

To select the available currency pairs, the MT5 'Test for all quoted stocks’ function was used to screen them. The test conditions were NOZAX Zero account (ECN), initial balance of USD 10,000 and a test period of 1 January 2020 – 31 December 2022. The timeframe was set to M1 based on preliminary test results.

  • Comparison: 22 currency pairs – AUDCAD#, AUDCHF#, AUDJPY#, AUDNZD#, AUDUSD#, CADJPY#, CADCHF#, CHFJPY#, EURAUD#, EURCHF#, EURGBP#, EURJPY#, EURUSD#, GBPAUD#, GBPCAD#, GBPCHF#, GBPJPY#, GBPUSD#, NZDUSD#, USDCAD#, USDCHF#, USDJPY#

The above table is ranked by Complex Criterion max at the time of backtesting. I thought that this EA could also be used for many currency pairs, but since the number of trades is small, I think it would be good to consider multi-currency operation. However, the free version of this EA is also fixed at 1 Lot, so you need to pay attention to the amount of funds.

※Complex Criterion max：Composite value of trade quality calculated from Total Trades, Drawdown, Recovery Factor, Expected Payoff and Sharpe Ratio.

Backtest of “RPC EA"（AUDUSD#）

Below is the result of backtesting with Every tick based on real ticks.

  • Account: NZX Zero (ECN) (NOZAX)
  • Currency Pair: AUDUSD#
  • Timeframe: M1
  • Parameter: Initial value
  • Initial Balance: $10,000
  • Period: 2020.01.01 – 2022.12.31

Long-term backtest of “RPC EA" (AUDUSD#)

Below is the result of backtesting with Every tick based on real ticks.

  • Account: NZX Zero (ECN) (NOZAX)
  • Currency Pair: AUDUSD#
  • Timeframe: M1
  • Parameter: Initial value
  • Initial Balance: $10,000
  • Period: 2013.01.01 – 2022.12.31
  • Good results were also obtained in the long-term backtest of 10 years.

This EA is by the same author as the ZigZag 5 EA 1lot introduced in the 27th article. The free version has a lot limit, so you need to be careful, but you can expect good results in signal distribution.

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Posted by GOMA