Hermes for USDJPY

⛀Concept

The concept is an EA that rides the flow without giving up.

When the flow goes against the positions held, humans need excellent emotional control to cut losses or reverse positions (holding a position opposite to the current one while closing the existing one).

"Hermes for USDJPY" aims to repeatedly reverse positions (holding a position opposite to the current one while closing the existing one) without giving up at key points, ultimately riding the larger flow.

⛀About the Logic

It remembers recent highs and lows, and when approaching those highs and lows, it enters in the trend direction while setting wide stop losses and take profits (160 pips).

If it moves in the opposite direction after entry and approaches the opposite side's highs and lows, it reverses and enters again in the trend direction.

Thus, it aims to ride the larger flow without giving up, accumulating profits with small losses and large gains.

Regarding trading hours, it does not trade for a few hours at the beginning of the week and after around 21:00 on weekends, and it does not carry positions over the weekend. (It only functions with brokers using GMT+2/+3 (U.S. daylight saving time))

⛀Trade Scene (Excerpt from Backtest)

⅛Displayed on a 1-hour chart for better visibility of the overall picture.

⅛For those on a computer, right-click and open the image in a new tab for better visibility.

⅛Red arrows and dotted lines indicate sell,blue arrows and dotted lines indicate buy,red horizontal lines indicate stop loss,blue horizontal lines indicate take profit.

⛀Parameter Explanation

Except for settings related to lot size, the default settings are generally fine.

⛀Simple Interest Operation Backtest Results (Default)

⅛This EA operates only on the opening price, excluding order retries (which are difficult to reproduce in backtests), so it is tested on "opening price only".

⛀Compound Interest Operation Backtest Results

Initial margin "1000000",If "Reference Capital for Betting 0.1 Lot in Compound Interest Operation" = "300000" (0.1 Lot for every 300,000 capital)

⛀Other Notes

・This EA only operates normally when executed on a 5-minute chart.

・This EA is recommended for use with brokers using GMT+2/+3 (U.S. daylight saving time).

・If you close and restart MT4, positions will not be automatically closed. If there are existing positions after restarting, the logic will resume as is.

・This EA supports manual closing. After a manual close, it will enter as appropriate on the next signal. Please be aware that if the next signal is close, there is a possibility of re-entering immediately after closing.

・The operation of the EA may vary due to differences in distribution rates by broker and differences in execution environments (communication speed, processing speed, etc.).

・Regarding weekend carryovers, it does not account for market closures, so if you do not wish to carry over, please manually close the positions at your discretion.

⛀Q&A

・The "Expert" log outputs a message containing "array out of range" and fails to start.

This seems to occur when the value of "Maximum Bars in Chart" in MT4 settings "Tools" ⊲ "Options" ⊲ "Charts" ⊲ "Maximum Bars in Chart" or the number of bars saved in MT4 (historical data) is less than the EA parameter setting "Number of Past Bars to Check at Startup" of "3000". Changing the value of "Maximum Bars in Chart" or supplementing the historical data will resolve the issue when you start it again. In some environments, scrolling the displayed chart back a certain distance may also supplement it. We apologize for the inconvenience, and thank you for your cooperation.

・When performing backtests with TDS (Tick Data Suite) using "All Ticks", it outputs "array out of range" and fails.

Currently, there have been reports of failures when performing backtests with "TDS" and "All Ticks", but this is currently considered a specification.

We apologize for not being able to meet your request, but please conduct backtests using "opening price only". For reference, this EA operates based on the opening price generation, so the results will be the same whether backtesting with "All Ticks" or "opening price only".

・The modeling quality of the backtest image shows "n/a", is it unreliable?

This EA operates based on the opening price generation, so backtests are conducted using "opening price only", but due to MT4's specifications, when backtesting with "opening price only", it mechanically displays the modeling quality as "n/a".

Due to MT4's specifications, it is displayed as "n/a", but generally, when testing an EA that operates on "opening price only" with "opening price only", it does not have much impact, so please rest assured.

・Is it possible to manually input stop loss and take profit?

The developer considered implementing this, but since stop loss and take profit are part of the logic, changing them would significantly degrade performance, and it was found that the logic would need to be completely revised to implement it, so it was abandoned.

Therefore, it is currently not possible to manually input them, and there are no plans to implement this in the future.

We will take this demand into account for future development.

⛀Version Update History

Version 1.1

・Fixed an issue where the next entry after EA restart or manual closing might not occur at the intended timing of the logic.

Version 1.0

・New release

Thank you for your attention.