Framework Forex expert advisor uses three Commodity Channel Index (CCI) indicators crosses to determine position opening and closing. It is very simple, yet effective expert advisor. It also performs checks for available free margin to stop trading if it is bankrupt. This EA doesn't trade if bars didn't change or there were no 100 bars yet.
My test of Framework MetaTrader expert advisor gave a very good result using GBP/JPY pair on a daily chart using just 0.1 standard lots - about $20,000 profits over $10,000 account in one year, with just about $2,000 maximum drawdown. I've also checked it on a three years period and its performance showed the same stability.
What are the stop-loss and take-profit used by this EA?
It uses 255 pip take-profit, but doesn’t use a stop-loss on its orders. It should be on to close your orders when they are losing. The average losing order is 503 pips.
How often does it trade?
On daily GBP/JPY chart (the optimum settings) this EA will trade 2-3 times a month on average.
How to set up MT expert advisors
Using Metatrader expert advisors is simple, but sometimes people get confused with it and after downloading a file with the expert advisor a user might get stuck with it without knowing what to do next. This a simple tutorial on how to attach an expert advisor to Metatrader 4 char and activate it. 1. Download your MT4 expert advisor or copy it and save it to your MetaTrader’s ‘experts’ folder:
2. Double click it with your mouse and it will be opened in MQL editor (this editor comes with MT4). There will be a button ‘Compile’ at the center top of the window. Click it and your expert advisor will be compiled and ready to use. There might be some errors or warnings during the compilation, but in most cases there shouldn’t be any. You can try and fix those errors, but it takes time and some programming skills, usually.
3. Now, all you need to do is add your expert advisor to the preferred chart and activate it. You can also change some input parameters for the advisor in the Inputs tab:
This is all you need to set up your EA! Good luck. Keep in touch ;)