Pilot is a trading robot for the MetaTrader 5 terminal developed by the ‘Welcome to Profit’ company. It combines the finely chosen methods of technical analysis and a controlling artificial intelligence.
The system is based on the models of neural networks which provide the possibility of rule selection by the system. The trading system in this case is not a set of rigid rules, but a methodology for analyzing input data (time series of prices and volumes) aimed at identifying patterns. The distinguishing feature of this algorithm is the possibility of rapid “adjustment” to the current market situation.
The main advantage of the robot is its insensitivity to the broker’s conditions, the speed of trade execution and other details, which are so important for scalping based robots. As a result, the robot shows quiet, non-aggressive intellectual trading.
The system is fully automated, ready to use and does not require any configuration. The neural network has been trained on a special data sample from January 2008 to May 2014, so the demonstration testing of the system was carried out on data from May 1, 2014 up to now.
Hour ticks of
Conventionally, the algorithm operation can be divided into several stages:
- Formation of input data arrays for each of the indicators with a fixed window of history depth
- Sending them to the neural network
- Data processing by the neural network to obtain a group of output signals
- Post-processing of the output data using a group of decision rules
- Decision to buy/sell/out (buy — open a long position, sell — open a short position, out — do not do anything)
- Recommended account type: any
- Spread size: This is not a scalping trading strategy, therefore spread size does not matter.
- Quotes: 5 decimal places
- Order execution type: The system is not sensitive to the order execution speed, since it is set up for medium term trading
- Leverage: 1:100
- Symbol: EURUSD
- Timeframe: H1
- StopLoss\TakeProfit: Not used, since it may interfere with the network operation
The setup panel has only two components:
- A method for determining the lot size (fixed, % of the balance)
- Value (when the fixed lot is used — the number of lots / when choosing % of the balance — %)
Recommendations on how to improve the results and reduce the risk:
- It is recommended to turn the EA off 15 minutes before important news releases (since this robot version does not include fundamental analysis), the recommended pause in trading after the news is 2 hours;
- Using the percent of capital or fixed lot can be changed depending on the current state of the market (use fixed lot for high volatility and percentage for a quiet market);
- Recommend optimization parameter: lot size.
Recommendations on usage:
- Manual deal opening/closing is not supported when the EA is running (this is required for correct operation of the neural network);
- Increasing the volume of an open order is not recommended;
- Keep an order open for the weekend only taking into account the impact of the news in the subsequent working day.