Is “Most Famous Blessing” a profitable martingale?

Most Famous Blessing Characteristics

Platform: Metatrader 4

Advisor version: 3.9.6

Currency pairs: EURUSD, GBPUSD, XAUUSD

Timeframe: for currency pairs – H1, for gold – M5

Working time: unlimited

Robot type: indicator advisor. Enters the market at the end of the rollback, martingale is applied.

The logic of the advisor

Most Famous Blessing works with pending orders, deals are also concluded on the market, but only when building a grid. Pending orders are placed during the correction for the strong movement of the chart. When the conditions for entry are met, for example, in a growing market, the advisor immediately sets both Buy Limit and Buy Stop. As soon as one of the orders is triggered, the second is immediately deleted.

The Expert Advisor does not build up a position when the chart moves against an open deal. The grid is drawn only in case of movement in an unprofitable direction. There are situations when the number of levels in the grid reaches 6-7, but more often it is limited to 1-3 orders, then the entire grid is closed with a profit.

Since the grid can be quite large, the author recommends having a deposit of at least $ 3000 for a minimum lot of 0.01. This will allow the EA to survive periods of drawdown. Below are examples of transactions.

Note that the lot with copyright settings does not grow exponentially. In the example with a 4-level grid at level 4, the lot increased to 0.04 with a starting volume of 0.01. So the author tried to reduce the load on the deposit.

As for the frequency of trading, there are periods when the advisor does not conclude deals for 1-2 weeks. Trading intensity is below average.

Expert advisor settings

Expert advisor settings

The EA is new, appeared in the summer of 2018 and the author does not go into details about which parameter and what exactly means. You can customize anything in Most Famous Blessing, but the purpose of some of the parameters remains unclear. Below is the decoding of those parameters, whose purpose leaves no doubt:

  • EmergencyCloseAll – emergency closing of all open positions;
  • ShutDown – the EA will stop trading after an emergency closing of positions;
  • StopTradePercent – at what level of losses from the deposit the advisor will stop trading;
  • NanoAccount – support for cent accounts;
  • MaxSpread – allowed spread;
  • UseHolidayShutdown – use a break during holidays;

We have listed only a part of the basic settings of the EA. From what was left without attention – the parameters of the hedging block. The EA knows how to hedge by opening positions on pairs that correlate with the working one. But we do not recommend using this function, it is rather experimental and so far its usefulness is questionable.

It makes no sense to consider in detail the block of settings for the visual component.

All parameters that are not included in our description and the meaning of which you do not understand is better not to touch at all.

Most Famous Blessing Testing

The test was carried out for 2018 with the parameters recommended by the author. The advisor does not perform well on gold, therefore, when testing, we limited ourselves to the foreign exchange market.

On EURUSD for 2018, the starting $ 3000 increased by $ 765.58, or 25.52%. At the same time, the drawdown was 29.68%, the value is solid, but within the normal range for a martingale robot.

Conclusion

Most Famous Blessing after testing on a cent account can be considered a candidate for inclusion in the portfolio of advisors. Although it belongs to martingale robots, it can work profitably over a long distance.

Of the shortcomings, I note:

  • a relatively low profit, I personally expected more from the “monkey”;
  • long testing in the tester. When optimizing, when the number of runs will be in the hundreds, it will take a lot of time;
  • lack of a clear explanation of the settings. There are a lot of them and it is easy to spoil something by negligence.

But Most Famous Blessing has the main thing – a working idea that makes a profit even with standard settings. So I recommend taking a closer look.