MQL5 Free EA – Verification by backtesting 16 “Synapse smart EA MT5”

2023-02-27MQL5 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 16th installment is “Synapse smart EA MT5“.

About “Synapse smart EA MT5"

Quote from the official MQL5 page

Synapse smart based on the latest neural network algorithms that allow high-precision forecasting of future price fluctuations. The EA uses the algorithm we developed for setting the SL and TP levels, considering the levels of support and resistance, channel width, and extremes of the price chart. The advisor does not use grid, martingale or any other unsafe strategy. The advisor has a money management system that allows user to set both a fixed order size and calculate it based on the size of the deposit or the maximum allowable drawdown on one order. The Expert Advisor is pre-configured, so it is enough for the user to install it and use it with default parameters. EA also has a system of tips that allows the user not to make a mistake when changing settings. Limitations of the EA: only two currency pairs – EURUSD, AUDUSD, maximum order size – 0.1 lots. Timeframe – H1.

Description of the parameters:

Instruments — List of currency pairs;
Order size calc. method — Selection of order size calculation method;
Order size — Order size in lots;
Depo percent — Order size as a percentage of the deposit;
Max risk – Order size as the maximum drawdown as a percentage of the deposit at the current stop loss level;
Orders quantity limit — Maximum number of orders for one currency pair;
Stops auto calc. – Enable/Disable automatic calculation of stop loss and take profit values;
Trailing stop — Trailing stop value;
Take profit — Take profit value;
Stop loss — Stop loss value;
Max spread – maximum allowable spread;
use GUI – Enable/Disable Dashboard;
GUI font size — Dashboard font size selection;
Orders comment — Comment for orders;
Orders magic — Identification number of orders.

Trading of “Synapse smart EA MT5"

It is an EA produced by the same company (www.halman.com) as the TardersMind EA included in the portfolio, and the basic behavior including the display format of the dashboard on the chart is the same. Perhaps the basic logic before implementing the neural network is different, but I don’t know the details. Also, the authors in MQL5 are different, so they may be working as a group of programmers.

Short-term backtesting on EURUSD and AUDUSD

Account: NZX Zero (ECN) (NOZAX)
Initial Balance: $1,000
Parameters: Initial Setup
Period: 1 January 2020 – 31 December 2022

EURUSD# H1

AUDUSD# H1

So far, so perfect.
However, the comments (evaluations) on the official MQL5 website are not good … Long-term backtesting yields the following profit and loss curve: It’s a little suspicious…

Since this EA is optimized using the “neural network algorithm", the possibility of “overoptimization" cannot be ruled out.

Long-term backtesting on EURUSD and AUDUSD

Account: NZX Zero (ECN) (NOZAX)
Initial Balance: $1,000
Parameters: Initial Setup
Period: 1 January 2008 – 31 December 2022

EURUSD# H1

AUDUSD# H1

Parts that have not been clearly optimized, such as those enclosed in a good red frame, are detected. If the basic logic before optimization works to some extent, these traces should be difficult to detect, so it is difficult to use them.

At the time of testing (February 20), this EA seems to be [Version: 2.4 Updated: 27 January 2023], and we cannot rule out the possibility that the latest good performance will be due to the update.

Instead of suddenly including it in a portfolio, I would like to continue verification by forward testing it separately on a demo account.