Pip Sniper EA

2.6 (52.31%) 13 votes

My dear Forex friends today on Forex Free EA… PipSniper EA!

The founders megadroids in December last year brought to market a new bot for the pair USDCAD… PipSniper. Scalper for USDCAD!! the creators of Megadroid. Trades rarely (a little more often than a droid), but aptly. There is almost no loss. Maybe the best adviser in the world for USDCAD.
  • About the adviser:
  • Platform: MT 4
  • Working hours: Asian Session
  • Currency pair: USDСAD
  • Timeframe: M15

Settings description of the PipSniper advisor:

Parameter Configuring the PipSniper EA

  • AuthCode: everything is free for us, no codes
  • MinLotSize is the minimum lot size that will be used by the Expert Advisor
  • MaxLotSize: the maximum lot size, which will be used by the advisor
    Note: If you set the same values for the MinLotSize and MaxLotSize parameters, we get a fixed (unchangeable) lot
  • TradeLevel: the level of risk for each position as a % of available free funds (see the EquityMode parameter) or from the account balance
  • EquityMode: when you enable TradeLevel, it will be based on the level of funds not engaged in trade
  • StealthMode: when enabled, T P and S L are not sent to the broker’s server
  • PipTarget: level of TP (in points)
  • SL: level of stop-loss (in points)
  • TimeProtect: specifies the time (in minutes) that is assigned to the order to achieve the goal (T P). At the end of this interval, the adviser will look for a opportunity to close the position with a lower profit
  • GmtOffset: deviation of the server time of the broker from time to GMT
  • AutoGmtOffset: when trading in real time, this parameter is better to include. Then the EA will automatically determine the value of GMToffset

Note: when checking the EA in the Strategy Tester, AutoGmtOffset must be disabled and set manually.
Here is an instruction how to determine the value: How to set the correct GMT offset

  • MaxSpread is the maximum level of the spread (in points) for trading. If the spread exceeds the value, the adviser does not open the warrant
  • Reference to magic number: the code by which the EA determines its positions can be any. However, it is not possible for two advisors to have the same magic number on the same account. Otherwise, there may be confusion with the orders
  • TopPadding / LeftPadding / TextColor1 / TextColor2 – these settings are responsible for the appearance and location of information from the EA on the graph

EA PipSniper: Observations

Some ideas to improve the results of the EA PipSniper

  1. Trading Mondays:
    First, for some reason, the developers did not install a trade ban on the adviser on the night of Sunday – Monday. This contradicts the rules for working with night scalpers. Even more, I have never seen a scalper trade from Sunday to Monday, because there is a risk that the ST expert will be knocked out by a sharp movement at the opening market.
    What to do? Just turn off the advisor at night from Sunday to Monday.
    Is it possible to do this through the settings without deleting the expert from the schedule?
    YES, click on the graph with the mouse attached to the mouse and press F7 on the keyboard.
    On the General tab, remove the checkmarks from the ” Allow signals ” and ” Allow the Expert Advisor to trade ” items and Click OK. In the evening on Monday, so that the EA again traded, we return the ticks to the place.
  2. GMToffset:
    The results will change when correcting the deviation from the GMT time.
    The idea is to disable the AutoGMtoffset function and manually set the GMT deviation, but 1 less than it should be in accordance with the terminal time (see How to set the correct GMT offset)
    How to do it in the settings: see the description of the settings of the EA Piplaser
    The question is, how will the results change?

    Backtest from the beginning of 2010. to the end of April 2011 with the correct GMT
Backtest for the same period, but with wrong offset of 1 less:


As you can see, the results have significantly improved with a decrease in the offsets per unit.
But how will this affect the earlier period during testing?
Check backtest April 2007 to April 2011 with the correct offsets:


Same period with offset of 1 less:

The final profit is approximately the same level in both tests. I think it’s the yield curve that forced the developers to move the time one hour forward. Don´t forget that they have the task first of all to sell this EA.
What do we do the simple traders? Forex market is changing very quickly and you need to apply what is working now in the current market, we need to check by testing on real accounts.
FOREX FREE EA´S Team wish you a good trading!!