Silicon Falcon EA trades the breakdown of the high and low levels of the price channel, placing pending orders at these levels, each transaction has a stop loss and take profit, and is also controlled using a trailing stop, mainly scalping small profits, EA does not use dangerous trading methods such as martingale, grid, etc.

Attention!!! Please read carefully the rules for installing the advisor, and install it correctly. Before publishing, we check everything and publish only those advisors that work on our accounts !!! At least at the time of this article’s publication. Also, please note that the name of the adviser has been changed, you can find the original name of the adviser in our telegram channel https://t.me/FX_VIP/2513

Backtesting:

The testing was carried out on a pair EURUSD with set file “SF EURUSD H1 RC1 Min Trade Spacing” and pair UsdJpy with set file “SF USDJPY H1 RC1”, these set files are attached in the archive with the advisor which you can download for free below using the links , more detailed results can be seen below.

Settings:

Description of parameters:

• Use Money Management – If true automatic lot sizing is used.
• MM Risk Setting – Risk Setting to be used if money management is used.
• Lot Size – Fixed Lot size if money management is not used.
• Period for S/R Algo – Time Frame for entry algorithm.
• Channel Period – Length of initial price channel.
• Bars After Signal Bar – Number of bars after high/low in analyzed channel.
• Look Back Period – How far into the past to scan for scalping channels.
• Max Pending Orders – As Stated.
• Min Trade Spacing – Minimum pips between entry orders/past positions.
• Buy Order Offset – Amount above channel high to place pending entry orders.
• Sell Order Offset – Amount below channel low to place pending entry orders.
• Min Dist New Orders – Minimum distance from current bid/ask for new entry orders.
• Target Profit – Target Profit Pips.
• Stop Loss – Stop Loss Pips.
• Trailing Stop – Trailing Stop  Pips.
• Trail Step – Trail Step Pips.
• Break Even Activation Pips – Price must be this far into profit for breakeven activation.
• Pips to Lock In – Pips to lock in with breakeven activation.
• Time Choice – Choose between GMT, Broker (trade server), or Local (PC/VPS) time.
• Use Trading Hours – Set true to use trading hours.
• Close Trades Outside Hours – Close open positions outside of trading hours.
• Hour to Start Trading – Hour to start trading (Use broker time).
• Hour To Stop Trading – Hour to stop trading (Use broker time).
• Friday Exit Hour – Hour to stop trading on Friday and delete pending entry orders.
• Close Trades On Friday – Close open positions after Friday close.
• Use Rollover Protection – Set true to activate rollover protection. Actiona will be taken 5 minutes before broker rollover time and last until 5 minutes after rollover time to protect account.  EA will delete order in danger of being filled with huge spread during rollover and also widen stop loss of any open positions to avoid rollover stop hunting.
• Rollover Hour – Hour of rollover. If using GMT hours and your broker is GMT + 2 this will be 22. If using Broker hours it will be 0. 
• Rollover Order Distance – If entry orders are within this distance. Rollover protection will delete them rather than risk having them filled with a huge spread.
• Rollover Widen SL Pips – Amount to widen stop loss of open positions during rollover. Normal size SL will be replaced immediately following rollover time.
• Sunday – Friday – Trade or skip – T/F (True or False).
• Trade NFP Friday – T/F.
• Trade Thursday Before NFP – T/F.
• Trade Christmas Break – T/F.
• Day To Begin Break – 15 (15th of December as example).
• Trade New Year Holiday – T/F.
• Day To Return After Break – 3 (3rd of January as example).
• Transparent Display – Set true to see through on chart display.
• Trade Comment – Comment to be sent with trades.
• Max Spread – Maximum spread allowed for entry orders and before orders are deleted for safety.
• Distance To Cancel – When max spread is exceeded EA will delete all orders within this distance in pips.
• Max 1 Min Spike Size – Set Pips for Max Spike Size Allowed on 1 Min Time-Frame. If spike exceeds this size entry orders will be deleted for safety.
• Time Out – Amount of time for timeout after big spike or big spread.
• FIFO Friendly – Enable for FIFO Brokers.
• Magic Number – Use a unique number for each strategy on any addition instance of Apex running on the same account and currency pair.

Conclusion:

The advisor looks quite interesting during becktesting, of course it will not show the same results in a real account due to slippage and other factors of trading on a real, but nevertheless it is definitely worth checking, perhaps it will bring profit, albeit not so big, in general I recommend testing the advisor first on a cent account, after which you can draw the appropriate conclusions.

Functionality tested, in build 1440 working.

Reminder: As with every trading system, always remember that forex trading can be risky.  Don’t trade with money that you can not afford to lose.  It is always best to test EA’s first on demo accounts, or live accounts running low lotsize.  You can always increase risk later!

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