EA review - Legend

This EA has been removed from the market. If you are still interested, you could try to contact the seller directly via his profile.

The Legend EA consists of two different strategies on M15 time frame. The first strategy uses a momentum approach and enters into trend direction after a strong price movement. The EA can open multiple positions in one direction, which should be considered when calculating the desired risk settings. 

In order to diversify the exit logic, the EA partially closes the positions at different times. However, in backtests it often happend that the EA closes part of the position just to open again a new position with the exact lot size that was closed. This part of the logic produces more commission costs and is not necessary in our view. 

The second strategy trades the break of support and resistance levels. It uses stop oders at the highs and lows of the historic chart. This strategy uses a slightly higher average profit target compared to typcial SR level breakout scalpers, which should reduce the susceptibility to slippage in live trading. The second strategy also closes positions partly to diversify the exit conditions. 

Our opinion

Fixed lot size backtests

Why do we use fixed lot size (0.1 lots)? Check our educational page.

• EURUSD
• EURAUD
• USDJPY
• XAUUSD

Full backtest report

Symbol		EURUSD (Euro vs US Dollar)
Period		15 Minutes (M15) 2010.01.01 02:00 - 2019.09.13 23:45 (2010.01.01 - 2019.09.15)
Model		Every tick (the most precise method based on all available least timeframes)
Parameters		Spacer1="============= Strategy 1 Inputs ============="; S1Enabled=true; Spacer2="---------- Money Management S1 ------------"; UseMMS1=false; riskS1=0.8; lotsizeS1=0.1; MaxPositions=8; Spacer3="---------- Entry Variables S1 ------------"; FastPeriod=10; SlowPeriod=180; VolatilityFactor=2.5; MA1Period=15; MA2Period=2; MA3Period=5; Spacer4="---------- Exit Variabless S1 ------------"; targetprofitS1=75; stoplossS1=20; MA_Method_S1=1; TrailMA_TimeFrame_S1=15; TrailMA_Per_S1=60; TrailMA_Shift_S1=0; TrailTypeS1=0; BEActPipsS1=18; PipsToLockS1=12; BrokerTPS1=125; BrokerSLS1=40; Spacer5="---------- Partial Close Exit S1 ------------"; UsePartialCloseS1=true; PercentCloseS1=10; MinProfitPipsS1=0; CloseSpacingS1=0; Spacer6="--------- Price Gap Protection S1 -------------------"; MaxGap=12; PauseHours=4; magicnumberS1=19582; Spacer7="============= Strategy 2 Inputs ============="; S2Enabled=true; Spacer8="---------- Money Management S2 ------------"; UseMMS2=false; riskS2=1.2; lotsizeS2=0.1; MinTradeSpacing=0.1; Spacer9="---------- Entry VariablesS2 ------------"; SamplePeriod=100; LookBackPeriod=1000; OrderOffset=-2.5; Spacer10="---------- Exit Variabless S2 ------------"; targetprofitS2=125; stoplossS2=35; MA_Method_S2=1; TrailMA_TimeFrame_S2=15; TrailMA_Per_S2=45; TrailMA_Shift_S2=0; TrailTypeS2=0; BEActPipsS2=6; PipsToLockS2=4; BrokerTPS2=135; BrokerSLS2=45; Spacer11="---------- Partial Close Exit S2 ------------"; UsePartialCloseS2=true; PercentCloseS2=10; MinProfitPipsS2=0; CloseSpacingS2=0; magicnumberS2=24837; Spacer12="=============Universal Variables============="; maxspread=10; Spacer13="--------- GMT Trading Entry Hours -------------------"; UseTradeHours=false; BeginTradingHour=23; StopTradingHour=21; FridayExitHour=18; Spacer14="------------ Trading Days ------------"; Sunday=true; Monday=true; Tuesday=true; Wednesday=true; Thursday=true; Friday=true; Spacer15="---------- Holidays and NFP ---------------"; NFP_Friday=false; NFP_ThursdayBefore=true; ChristmasHolidays=false; XMAS_DayBeginBreak=22; NewYearsHolidays=false; NewYears_DayEndBreak=2; Spacer16="---------------------------------------"; TransparentDisp=false; TradeComment="Legend"; ExpMinutes=0; FIFO=false;
Bars in test	244014	Ticks modelled	229088249	Modelling quality	99.90%
Mismatched charts errors	0
Initial deposit	1000.00			Spread	Variable
Total net profit	18030.74	Gross profit	39704.76	Gross loss	-21674.02
Profit factor	1.83	Expected payoff	2.29
Absolute drawdown	106.84	Maximal drawdown	752.49 (13.19%)	Relative drawdown	22.58% (434.30)
Total trades	7886	Short positions (won %)	3996 (84.68%)	Long positions (won %)	3890 (84.27%)
		Profit trades (% of total)	6662 (84.48%)	Loss trades (% of total)	1224 (15.52%)
Largest		profit trade	128.20	loss trade	-62.30
Average		profit trade	5.96	loss trade	-17.71
Maximum		consecutive wins (profit in money)	68 (333.79)	consecutive losses (loss in money)	11 (-309.94)
Maximal		consecutive profit (count of wins)	756.07 (45)	consecutive loss (count of losses)	-309.94 (11)
Average		consecutive wins	10	consecutive losses	2

Full backtest report

Symbol		EURAUD (Euro vs Australian Dollar)
Period		15 Minutes (M15) 2010.01.04 00:00 - 2019.09.13 23:45 (2010.01.01 - 2019.09.15)
Model		Every tick (the most precise method based on all available least timeframes)
Parameters		Spacer1="============= Strategy 1 Inputs ============="; S1Enabled=true; Spacer2="---------- Money Management S1 ------------"; UseMMS1=false; riskS1=1.2; lotsizeS1=0.1; MaxPositions=8; Spacer3="---------- Entry Variables S1 ------------"; FastPeriod=7; SlowPeriod=140; VolatilityFactor=2.6; MA1Period=30; MA2Period=2; MA3Period=15; Spacer4="---------- Exit Variabless S1 ------------"; targetprofitS1=150; stoplossS1=25; MA_Method_S1=1; TrailMA_TimeFrame_S1=15; TrailMA_Per_S1=35; TrailMA_Shift_S1=3; TrailTypeS1=0; BEActPipsS1=6; PipsToLockS1=1; BrokerTPS1=160; BrokerSLS1=35; Spacer5="---------- Partial Close Exit S1 ------------"; UsePartialCloseS1=true; PercentCloseS1=20; MinProfitPipsS1=15; CloseSpacingS1=5; Spacer6="--------- Price Gap Protection S1 -------------------"; MaxGap=12; PauseHours=4; magicnumberS1=19582; Spacer7="============= Strategy 2 Inputs ============="; S2Enabled=true; Spacer8="---------- Money Management S2 ------------"; UseMMS2=false; riskS2=1.2; lotsizeS2=0.1; MinTradeSpacing=0.1; Spacer9="---------- Entry VariablesS2 ------------"; SamplePeriod=100; LookBackPeriod=250; OrderOffset=-2; Spacer10="---------- Exit Variabless S2 ------------"; targetprofitS2=150; stoplossS2=35; MA_Method_S2=1; TrailMA_TimeFrame_S2=15; TrailMA_Per_S2=30; TrailMA_Shift_S2=3; TrailTypeS2=0; BEActPipsS2=10; PipsToLockS2=2; BrokerTPS2=160; BrokerSLS2=45; Spacer11="---------- Partial Close Exit S2 ------------"; UsePartialCloseS2=true; PercentCloseS2=10; MinProfitPipsS2=5; CloseSpacingS2=5; magicnumberS2=24837; Spacer12="=============Universal Variables============="; maxspread=10; Spacer13="--------- Trading Hours -------------------"; UseTradeHours=false; BeginTradingHour=23; StopTradingHour=21; FridayExitHour=13; Spacer14="----------------------------------------"; Sunday=true; Monday=true; Tuesday=true; Wednesday=true; Thursday=true; Friday=true; Spacer15="---------- Holidays and NFP ---------------"; NFP_Friday=false; NFP_ThursdayBefore=true; ChristmasHolidays=false; XMAS_DayBeginBreak=15; NewYearsHolidays=false; NewYears_DayEndBreak=3; Spacer16="---------------------------------------"; TransparentDisp=false; TradeComment="Legend"; ExpMinutes=0; FIFO=false;
Bars in test	243797	Ticks modelled	294112537	Modelling quality	99.90%
Mismatched charts errors	0
Initial deposit	1000.00			Spread	Variable
Total net profit	7189.02	Gross profit	16238.58	Gross loss	-9049.56
Profit factor	1.79	Expected payoff	2.87
Absolute drawdown	266.80	Maximal drawdown	679.85 (18.48%)	Relative drawdown	36.71% (521.45)
Total trades	2509	Short positions (won %)	1130 (71.86%)	Long positions (won %)	1379 (75.71%)
		Profit trades (% of total)	1856 (73.97%)	Loss trades (% of total)	653 (26.03%)
Largest		profit trade	111.72	loss trade	-42.89
Average		profit trade	8.75	loss trade	-13.86
Maximum		consecutive wins (profit in money)	36 (256.04)	consecutive losses (loss in money)	15 (-253.33)
Maximal		consecutive profit (count of wins)	688.91 (33)	consecutive loss (count of losses)	-253.33 (15)
Average		consecutive wins	6	consecutive losses	2

Full backtest report

Symbol		USDJPY (US Dollar vs Japanese Yen)
Period		15 Minutes (M15) 2010.01.04 00:00 - 2019.09.13 23:45 (2010.01.01 - 2019.09.15)
Model		Every tick (the most precise method based on all available least timeframes)
Parameters		Spacer1="============= Strategy 1 Inputs ============="; S1Enabled=true; Spacer2="---------- Money Management S1 ------------"; UseMMS1=false; riskS1=1.6; lotsizeS1=0.1; MaxPositions=3; Spacer3="---------- Entry Variables S1 ------------"; FastPeriod=12; SlowPeriod=60; VolatilityFactor=2.4; MA1Period=35; MA2Period=2; MA3Period=7; Spacer4="---------- Exit Variabless S1 ------------"; targetprofitS1=75; stoplossS1=20; MA_Method_S1=1; TrailMA_TimeFrame_S1=15; TrailMA_Per_S1=35; TrailMA_Shift_S1=3; TrailTypeS1=0; BEActPipsS1=6; PipsToLockS1=1; BrokerTPS1=0; BrokerSLS1=25; Spacer5="---------- Partial Close Exit S1 ------------"; UsePartialCloseS1=true; PercentCloseS1=10; MinProfitPipsS1=15; CloseSpacingS1=5; Spacer6="--------- Price Gap Protection S1 -------------------"; MaxGap=12; PauseHours=4; magicnumberS1=19582; Spacer7="============= Strategy 2 Inputs ============="; S2Enabled=true; Spacer8="---------- Money Management S2 ------------"; UseMMS2=false; riskS2=1.6; lotsizeS2=0.1; MinTradeSpacing=0.1; Spacer9="---------- Entry VariablesS2 ------------"; SamplePeriod=90; LookBackPeriod=270; OrderOffset=-0.5; Spacer10="---------- Exit Variabless S2 ------------"; targetprofitS2=150; stoplossS2=35; MA_Method_S2=1; TrailMA_TimeFrame_S2=15; TrailMA_Per_S2=30; TrailMA_Shift_S2=3; TrailTypeS2=0; BEActPipsS2=4; PipsToLockS2=2; BrokerTPS2=160; BrokerSLS2=45; Spacer11="---------- Partial Close Exit S2 ------------"; UsePartialCloseS2=true; PercentCloseS2=10; MinProfitPipsS2=5; CloseSpacingS2=5; magicnumberS2=24837; Spacer12="=============Universal Variables============="; maxspread=10; Spacer13="--------- Trading Hours -------------------"; UseTradeHours=false; BeginTradingHour=23; StopTradingHour=21; FridayExitHour=13; Spacer14="----------------------------------------"; Sunday=true; Monday=true; Tuesday=true; Wednesday=true; Thursday=true; Friday=true; Spacer15="---------- Holidays and NFP ---------------"; NFP_Friday=false; NFP_ThursdayBefore=true; ChristmasHolidays=false; XMAS_DayBeginBreak=15; NewYearsHolidays=false; NewYears_DayEndBreak=3; Spacer16="---------------------------------------"; TransparentDisp=false; TradeComment="Legend"; ExpMinutes=0; FIFO=false;
Bars in test	243816	Ticks modelled	183925682	Modelling quality	99.90%
Mismatched charts errors	0
Initial deposit	1000.00			Spread	Variable
Total net profit	4368.14	Gross profit	10474.71	Gross loss	-6106.57
Profit factor	1.72	Expected payoff	2.03
Absolute drawdown	210.76	Maximal drawdown	426.77 (35.10%)	Relative drawdown	35.10% (426.77)
Total trades	2152	Short positions (won %)	984 (76.32%)	Long positions (won %)	1168 (83.13%)
		Profit trades (% of total)	1722 (80.02%)	Loss trades (% of total)	430 (19.98%)
Largest		profit trade	300.49	loss trade	-60.11
Average		profit trade	6.08	loss trade	-14.20
Maximum		consecutive wins (profit in money)	54 (413.25)	consecutive losses (loss in money)	13 (-72.14)
Maximal		consecutive profit (count of wins)	494.58 (50)	consecutive loss (count of losses)	-168.16 (4)
Average		consecutive wins	6	consecutive losses	2

Full backtest report

Symbol		XAUUSD (Gold vs US Dollar)
Period		15 Minutes (M15) 2010.01.01 02:00 - 2019.09.13 23:45 (2010.01.01 - 2019.09.15)
Model		Every tick (the most precise method based on all available least timeframes)
Parameters		Spacer1="============= Strategy 1 Inputs ============="; S1Enabled=false; Spacer2="---------- Money Management S1 ------------"; UseMMS1=false; riskS1=1.6; lotsizeS1=0.1; MaxPositions=30; Spacer3="---------- Entry Variables S1 ------------"; FastPeriod=12; SlowPeriod=60; VolatilityFactor=2.4; MA1Period=35; MA2Period=2; MA3Period=3; Spacer4="---------- Exit Variabless S1 ------------"; targetprofitS1=75; stoplossS1=20; MA_Method_S1=1; TrailMA_TimeFrame_S1=15; TrailMA_Per_S1=35; TrailMA_Shift_S1=3; TrailTypeS1=0; BEActPipsS1=6; PipsToLockS1=1; BrokerTPS1=0; BrokerSLS1=25; Spacer5="---------- Partial Close Exit S1 ------------"; UsePartialCloseS1=true; PercentCloseS1=10; MinProfitPipsS1=0; CloseSpacingS1=0; Spacer6="--------- Price Gap Protection S1 -------------------"; MaxGap=200; PauseHours=1; magicnumberS1=19582; Spacer7="============= Strategy 2 Inputs ============="; S2Enabled=true; Spacer8="---------- Money Management S2 ------------"; UseMMS2=false; riskS2=1.5; lotsizeS2=0.1; MinTradeSpacing=0.1; Spacer9="---------- Entry VariablesS2 ------------"; SamplePeriod=100; LookBackPeriod=1000; OrderOffset=-2; Spacer10="---------- Exit Variabless S2 ------------"; targetprofitS2=150; stoplossS2=10; MA_Method_S2=1; TrailMA_TimeFrame_S2=15; TrailMA_Per_S2=40; TrailMA_Shift_S2=5; TrailTypeS2=0; BEActPipsS2=4; PipsToLockS2=2; BrokerTPS2=250; BrokerSLS2=60; Spacer11="---------- Partial Close Exit S2 ------------"; UsePartialCloseS2=true; PercentCloseS2=10; MinProfitPipsS2=0; CloseSpacingS2=0; magicnumberS2=24837; Spacer12="=============Universal Variables============="; maxspread=10; Spacer13="--------- Trading Hours -------------------"; UseTradeHours=false; BeginTradingHour=23; StopTradingHour=21; FridayExitHour=13; Spacer14="----------------------------------------"; Sunday=true; Monday=true; Tuesday=true; Wednesday=true; Thursday=true; Friday=true; Spacer15="---------- Holidays and NFP ---------------"; NFP_Friday=false; NFP_ThursdayBefore=true; ChristmasHolidays=false; XMAS_DayBeginBreak=15; NewYearsHolidays=false; NewYears_DayEndBreak=3; Spacer16="---------------------------------------"; TransparentDisp=false; TradeComment="Legend"; ExpMinutes=0; FIFO=false;
Bars in test	234043	Ticks modelled	276784498	Modelling quality	99.90%
Mismatched charts errors	0
Initial deposit	1000.00			Spread	Variable
Total net profit	3809.54	Gross profit	13969.99	Gross loss	-10160.45
Profit factor	1.37	Expected payoff	1.59
Absolute drawdown	5.00	Maximal drawdown	992.21 (20.18%)	Relative drawdown	20.18% (992.21)
Total trades	2403	Short positions (won %)	1079 (71.18%)	Long positions (won %)	1324 (76.81%)
		Profit trades (% of total)	1785 (74.28%)	Loss trades (% of total)	618 (25.72%)
Largest		profit trade	322.90	loss trade	-87.50
Average		profit trade	7.83	loss trade	-16.44
Maximum		consecutive wins (profit in money)	44 (462.50)	consecutive losses (loss in money)	8 (-164.70)
Maximal		consecutive profit (count of wins)	462.50 (44)	consecutive loss (count of losses)	-180.80 (6)
Average		consecutive wins	5	consecutive losses	2

Portfolio backtest

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