CoensioTrader1V06 - MetaTrader 5 Expert - MT4/MT5 Resources

CoensioTrader1 is an open, free, community-supported automated trading system (ATS) based primarily on two basic but very powerful market principles: market trends and market price action.

The system is based on the principle of "trend hunting" and only trades when multiple market conditions are met. Trend detection is based on the Daily Double Exponential Moving Average (DEMA) indicator.

Extended statistical investigation shows that a market can be considered "trending" if only three consecutive daily DEMA values ​​point in the same direction. If trend conditions are detected, the system attempts to find the best entry point in the current trend direction. Entry points are based on the Bollinger Bands indicator and swing lows/swing highs price action, as explained below.

The system will enter a buy trade whenever:

Figure 1. Example of buy entry

The system will enter a sell trade whenever:

Figure 2. Sell Entry Example

The system is written in the MQL5 programming language and can perform accurate and realistic backtest analysis of multi-currency based trading systems.

The key to successful backtesting of a multi-currency system is to abandon "tick-based" EA process control and use "timer-based" process control. This prevents the EA's base currency from becoming stagnant and no longer receiving price movements, for example during "quiet" market periods. Additionally, the system has a healthy risk/reward ratio and uses a trailing "stop loss" mechanism with configurable trailing steps (using the TrailingStopLossStep parameter).

The lot size can be set to a fixed lot size (using the LotSize parameter), a proportional lot size (using RiskMax, based on stop loss level and equity risk percentage) or a dynamic lot size (using the LotBalanceDivider parameter, adjusting the lot size based on changes in the account balance). In addition to this, the system also includes two different "Take Profit" operations: a "Take Profit" operation based on standard levels and a "Take Profit" operation based on equity. In a multi-currency trading system, the account equity may be significantly higher than the account balance, this fact provides the opportunity to close all trades and calculate them at current profit. This intelligent behavior greatly increases the profitability of the system.

As mentioned above, CoensioTrader1 is a free and open project, but all CoensioTrader1 project members are expected to actively contribute to future improvements to the system.

To achieve this, the system is designed in such a way that it utilizes the computing power of all project members. Therefore, every time a project member performs system optimization, the results are verified and, if interesting results occur, the optimization parameters are automatically uploaded to the Coensio server database and shared directly with other project members.

Use "CoensioIndex" to select the most valuable results, which is defined as follows:

Figure 3. Backtest result example (Rank=10)

More trading parameters are available at: http://www.coensio.com/sts/CoensioTrader1V06TOP.php?table=0&ranklength=100

Attachment download

📎 coensiotrader1v06.mqh (24.94 KB)

📎 coensiotrader1v06.mq5 (43.86 KB)

Source: MQL5 #2026