Forex Germany

Expert Advisors - CovertFX

CovertFX is an Expert Advisor that trades a breakout strategy on various currency pairs.

As soon as a fast and strong price movement exceeding the current range is detected, CovertFX opens a first position in the direction of this movement to participate in the continuation of the trend. Stop loss and take profit limits are dynamically calculated based on current market conditions, additionally all open positions are protected by trailing stops.

The EA supports a fixed lot size as well as risk based money management and the maximum number of simultaneously open positions can be set for each currency pair. There are no other changeable trading parameters.

Based on the backtests the risk-reward-ratio of CovertFX is slightly better than 1:1 which - combined with a hit ratio of about 65% - can be considered an acceptable value. However, taking both parameters into account extended draw down periods have to be expected. Since the EA trades ten different currency pairs there is a good chance that profit and loss phases of the single pairs balance each other out.

A Monte-Carlo-Simulation, based on backtests (2012-2016), with a lot size of 0.05, a starting balance of EUR 1,000 and 100,000 iterations, shows the following results regarding expected profits, expected drawdowns and the derived value at risk. Here the value at risk is expressed as the drawdown which is expected with a probability of 95% and 99% respectively not to be exceeded.

Pair Profit Drawdown Value at Risk
max min Ø max min Ø 95% 99%
All 39,267.26 25,692.86 32,231.38 48.80% 0.49% 2.94% 10.37% 20.71%
AUDUSD 6,138.54 1,273.82 3,782.43 51.12% 1.44% 7.70% 16.48% 22.35%
EURAUD 6,748.33 1,516.95 4,212.84 50.56% 1.63% 8.38% 18.58% 25.37%
EURGBP 7,309.53 1,030.17 4,096.87 71.07% 1.97% 10.00% 21.98% 30.33%
EURUSD 4,980.02 1,277.14 3,257.56 26.07% 1.10% 5.01% 10.26% 13.62%
GBPAUD 1,908.96 1,154.96 1,648.10 10.79% 0.62% 1.78% 3.17% 3.82%
GBPJPY 9,584.30 174.68 5,178.89 152.72% 2.52% 16.74% 40.17% 57.53%
GBPUSD 5,349.13 1,035.96 3,217.84 45.72% 1.58% 8.11% 16.85% 22.48%
NZDUSD 2,862.24 470.91 1,693.12 26.02% 1.36% 5.70% 10.39% 13.70%
USDJPY 3,899.90 101.38 2,008.03 60.67% 1.76% 9.62% 18.27% 24.65%
XAUUSD 4,497.56 1,352.66 3,077.86 32.95% 1.28% 5.59% 11.71% 15.90%

Trading strategy

Breakout strategy

Currency pairs

AUD/USD, EUR/AUD, EUR/GBP, EUR/USD, GBP/AUD, GBP/USD, GBP/JPY, NZD/USD, USD/JPY, XAU/USD

Chart

M5

Trading hours

All sessions.
00:00 - 24:00 GMT

Price

USD 347.
Payment through ClickBetter.

Return policy

The developer grants an unrestricted right to return within 60 days of purchase which will be paid back through ClickBetter.

Licence

The licence is valid for one live or demo account and includes support and upgrades. The licence can be managed in the members area of the developer's website.

Manual

A 21-pages manual explains in detail the installation and set up of CovertFX as well as the few available input parameters.

Links

CovertFX Homepage

Live performance

The performance of CovertFX is demonstrated, as follows, on an exclusive FXPIG Live account as well as on a live account of the developer.




Backtesting

CovertFX backtests for the period 2009 - 2016 are shown below.


AUDUSD, 2009 - 2016, spread: 2 pips, risk: 3.0

CovertFX - Backtesting AUDUSD 2009 - 2016


AUDUSD, 2012 - 2016, spread: 2 pips, lots: 0.05

CovertFX - Backtesting AUDUSD 2012 - 2016


EURAUD, 2009 - 2016, spread: 3 pips, risk: 3.0

CovertFX - Backtesting EURAUD 2009 - 2016


EURAUD, 2012 - 2016, spread: 3 pips, lots: 0.05

CovertFX - Backtesting EURAUD 2012 - 2016


EURGBP, 2009 - 2016, spread: 2 pips, risk: 1.5

CovertFX - Backtesting EURGBP 2009 - 2016


EURGBP, 2012 - 2016, spread: 2 pips, lots: 0.05

CovertFX - Backtesting EURGBP 2012 - 2016


EURUSD, 2009 - 2016, spread: 2 pips, risk: 3.5

CovertFX - Backtesting EURUSD 2009 - 2016


EURUSD, 2012 - 2016, spread: 2 pips, lots: 0.05

CovertFX - Backtesting EURUSD 2012 - 2016


GBPAUD, 2009 - 2016, spread: 3 pips, risk: 3.5

CovertFX - Backtesting GBPAUD 2009 - 2016


GBPAUD, 2012 - 2016, spread: 3 pips, lots: 0.05

CovertFX - Backtesting GBPAUD 2012 - 2016


GBPJPY, 2009 - 2016, spread: 2 pips, risk: 1.75

CovertFX - Backtesting GBPJPY 2009 - 2016


GBPJPY, 2012 - 2016, spread: 2 pips, lots: 0.05

CovertFX - Backtesting GBPJPY 2012 - 2016


GBPUSD, 2009 - 2016, spread: 2 pips, risk: 3.5

CovertFX - Backtesting GBPUSD 2009 - 2016


GBPUSD, 2012 - 2016, spread: 2 pips, lots: 0.05

CovertFX - Backtesting GBPUSD 2012 - 2016


NZDUSD, 2009 - 2016, spread: 2 pips, risk: 3.5

CovertFX - Backtesting NZDUSD 2009 - 2016


NZDUSD, 2012 - 2016, spread: 2 pips, lots: 0.05

CovertFX - Backtesting NZDUSD 2012 - 2016


USDJPY, 2009 - 2016, spread: 2 pips, risk: 3.5

CovertFX - Backtesting USDJPY 2009 - 2016


USDJPY, 2012 - 2016, spread: 2 pips, lots: 0.05

CovertFX - Backtesting USDJPY 2012 - 2016
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