Hello there. I hope your trading is going well.
Today’s post is mainly geared towards users of EAs (aka Expert Advisors for you forex newbies), so if you’re into EAs keep on reading.
So anyways, a while back I came across a free EA called “Gods Gift v7.” I forget exactly where I found it but I remember after running a backtest on the GBP/USD pair I was all excited that I may have come across a real gem, especially since the maximum drawdown was something like 8-10%! I played around with the EA for a while, but for some reason I slowly lost interest and moved on to other automated trading systems (the dreaded system hopping bug got me). Some time after that I came across an improved version that makes use of the ATR indicator. Apparently the author of the original Gods Gift EA said on some forum that the original EA no longer works. Thus someone tried to make it profitable again and came up with the Gods Gift ATR version.
Out of curiosity I slapped this EA on a demo IBFX account and let it do its thing. After many months of demo testing I’ve decided to stop testing it. I think it’s safe to say that sadly this EA is not profitable. If it was at some point due to whatever market dynamics were at play, well, great, but it does me no good as at the moment the EA is not profitable. I can best describe its performance as “spinning one’s wheels.” It did not bust the account, but then again nor did it bring the account above the initial starting balance.
I’ve got a trading statement you can checkout which I believe says it all:
http://alansforexblog.com/files/Gods_Gift_ATR-Statement.pdf
If you’re a hotshot MT4 MQL coder and you want to tinker with this EA you can get a copy from the following forum threads:
1) Original Gods Gift (non ATR) version:
http://www.forexnirvana.com/f27/gods-gift-ea-131/
2) Gods Gift ATR version:
http://www.forexnirvana.com/f27/gods-gift-atr-851/
There is also a modified version which has magic number (it can work alongside other EAs) support:
http://www.forexautopilotforum.com/showthread.php?t=36
Please remember to share with the forex community any improvement you make to this EA – you can do so by posting in the above forum threads (I’d recommend Forex Nirvana first though)
Thank you for your attention.
Oh, one more thing. If I come across any profitable free expert advisors I’ll let you know.
Happy EA trading!
Cheers,
Alan