FREE profitable robot?! Where?!

If you are not familiar with any of Meta Trader 4 and their FOREX automated trading system, this is a good time to start learning and understand what is actually happening. On the other hand, if you're an experienced trader, or you have very much experience in using other people's Expert Advisor(automated trading system) in the 1st place, I hope you find this is interesting because you're about to learn to develop your own system. You will never have to blackbox trading an EA you bought from ebay. Without knowing what is inside the bought EA, I have never feel comfortable to put down my hard earned money with these commercial EA.

Here is the deal. We're going to review the MACD Sample.mq4 from Meta Trader 4. You can find it freely available after you installed MT4. You may be getting ready to pay some money to buy a new EA from ebay, please hold the horses, because we may have something really worthwhile, and the best part of it is... it is FREE. You may think there is no free lunch, neither do I think there is free lunch. Therefore, we are going to have to do some work here. I've downloaded some history data from the broker and ran some test on it. You can download history by pressing F2 to get the history center.

Above screenshot showing bad data in USDJPY. You can notice that when you see only 1024 record existing in your computer. You'll have to click on the Download button to download history data from your broker.

Now, once download completed, MT4 will automatically extract all the downloaded file and import them to your platform. With these downloaded history, you'll be able to backtrack history as far back as 1999. Hold your Ctrl + R to access to your Tester window. Select Expert Advisor: MACD Sample, then Symbol change to the downloaded data. My case is EURJPY because I downloaded it. This is a crusial part, you can choose different type of modelling quality. I only use Every Tick as my modelling quality, as they provide the most precise test compare to real time trading. Finally, check the Use date box, fill in the column with desired testing date. Hit the start button and wait for it to finish testing.


Once test completed, you'll see the green indicator bar had filled up the entire column. And the Stop had changed to Start button again. Tabs at the lower tester window are for different function. You can view the tester graph, trade's detail, statistic report, and your trade journal.
-Settings is the main console to control your testing parameter.
-Results will show the trade's detail. From what price trade got opened, trade parameter modifications, take profits and stop losses.
-Graph will show the equity in 2D line chart
-Report is where the statistics are.
-Journal can be very useful to troubleshoot if an EA have error. Basically it record all trades in and out.

To generate a full report from your backtest, hit the Report tab in your tester window, right click in any column within your statistic report, select Save and report, and it will direct you to a file save window. Select your folder and it will save a copy of the tester report and open it up with your web browser as HTML format. Its very useful and handy.

So, here is the complete backtest of 2006 data on EURJPY with MACD Sample. Its FREE. This EA is not ready to use in my opinion. So, we're going to add in some parameter to ensure this EA is safe to use.