EA review - Tesseract

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

Tesseract is a counter trend strategy that has only one recommended pair, GBPUSD. It usually enters via limit oders around S/R levels and also seems to be using chart patters. Several positions can be open at the same time, but it looks like each position is independent, so it does not seem to be a grid logic. The average profit target is relatively high and every position uses a stop loss. 

The backtest for GBPUSD looks extremely good. Therefore, we decided to do a test on GBPUSD tick data that was shifted by 28 years. We explain at the end of our blog post why such a shift is a useful way to analyze an EA further. The results are much worse, which means that the trades of the EA are for some reason dependent on the exact date even though it is not using any news data. The results look mostly random and therefore we conclude that the trade logic has no significant statistical edge over a random pattern. 

Our opinion

Fixed lot size backtests

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

• GBPUSD
• GBPUSD (shifted 28 years)
• EURUSD (not recommended by author)
• USDCAD (not recommended by author)

Full backtest report

Symbol		GBPUSD (Great Britain Pound vs US Dollar)
Period		1 Hour (H1) 2010.01.01 02:00 - 2019.09.25 09:00 (2010.01.01 - 2019.09.30)
Model		Every tick (the most precise method based on all available least timeframes)
Parameters		MAGIC=100501; CommentEA="Comment EA"; ModeECN=true; MoneyManagement=0; RiskLots=0.1; Indent=2; BarsTrailStop=16; FractalDistances=43;
Bars in test	62709	Ticks modelled	226477131	Modelling quality	99.90%
Mismatched charts errors	0
Initial deposit	10000.00			Spread	Variable
Total net profit	68024.20	Gross profit	134795.40	Gross loss	-66771.20
Profit factor	2.02	Expected payoff	29.46
Absolute drawdown	288.00	Maximal drawdown	1022.20 (2.33%)	Relative drawdown	4.79% (748.00)
Total trades	2309	Short positions (won %)	1410 (61.49%)	Long positions (won %)	899 (61.62%)
		Profit trades (% of total)	1421 (61.54%)	Loss trades (% of total)	888 (38.46%)
Largest		profit trade	442.50	loss trade	-348.50
Average		profit trade	94.86	loss trade	-75.19
Maximum		consecutive wins (profit in money)	32 (1944.70)	consecutive losses (loss in money)	6 (-656.10)
Maximal		consecutive profit (count of wins)	1944.70 (32)	consecutive loss (count of losses)	-656.10 (6)
Average		consecutive wins	3	consecutive losses	2

Full backtest report

Symbol		GBPUSD (Great Britain Pound vs US Dollar)
Period		1 Hour (H1) 1982.01.01 00:00 - 1991.09.26 02:00 (1982.01.01 - 1991.09.30)
Model		Every tick (the most precise method based on all available least timeframes)
Parameters		MAGIC=100501; CommentEA="Comment EA"; ModeECN=true; MoneyManagement=0; RiskLots=0.1; Indent=2; BarsTrailStop=16; FractalDistances=43;
Bars in test	62707	Ticks modelled	176379845	Modelling quality	99.90%
Mismatched charts errors	0
Initial deposit	10000.00			Spread	Variable
Total net profit	-95.00	Gross profit	105466.70	Gross loss	-105561.70
Profit factor	1.00	Expected payoff	-0.03
Absolute drawdown	1073.70	Maximal drawdown	5550.30 (38.28%)	Relative drawdown	38.28% (5550.30)
Total trades	2809	Short positions (won %)	1665 (46.37%)	Long positions (won %)	1144 (38.11%)
		Profit trades (% of total)	1208 (43.00%)	Loss trades (% of total)	1601 (57.00%)
Largest		profit trade	447.50	loss trade	-323.50
Average		profit trade	87.31	loss trade	-65.93
Maximum		consecutive wins (profit in money)	7 (140.70)	consecutive losses (loss in money)	12 (-587.70)
Maximal		consecutive profit (count of wins)	1068.50 (4)	consecutive loss (count of losses)	-1106.80 (9)
Average		consecutive wins	2	consecutive losses	2

Full backtest report

Symbol		EURUSD (Euro vs US Dollar)
Period		1 Hour (H1) 2010.01.01 02:00 - 2019.09.23 10:00 (2010.01.01 - 2019.09.30)
Model		Every tick (the most precise method based on all available least timeframes)
Parameters		MAGIC=100501; CommentEA="Comment EA"; ModeECN=true; MoneyManagement=0; RiskLots=0.1; Indent=2; BarsTrailStop=16; FractalDistances=43;
Bars in test	62643	Ticks modelled	229526005	Modelling quality	99.90%
Mismatched charts errors	0
Initial deposit	10000.00			Spread	Variable
Total net profit	4612.10	Gross profit	77657.70	Gross loss	-73045.60
Profit factor	1.06	Expected payoff	2.47
Absolute drawdown	2143.20	Maximal drawdown	3386.80 (30.12%)	Relative drawdown	30.12% (3386.80)
Total trades	1864	Short positions (won %)	1127 (52.53%)	Long positions (won %)	737 (50.88%)
		Profit trades (% of total)	967 (51.88%)	Loss trades (% of total)	897 (48.12%)
Largest		profit trade	407.80	loss trade	-348.60
Average		profit trade	80.31	loss trade	-81.43
Maximum		consecutive wins (profit in money)	10 (435.10)	consecutive losses (loss in money)	8 (-831.70)
Maximal		consecutive profit (count of wins)	1196.00 (6)	consecutive loss (count of losses)	-831.70 (8)
Average		consecutive wins	2	consecutive losses	2

Full backtest report

Symbol		USDCAD (US Dollar vs Canadian Dollar)
Period		1 Hour (H1) 2010.01.01 02:00 - 2019.09.23 10:00 (2010.01.01 - 2019.09.30)
Model		Every tick (the most precise method based on all available least timeframes)
Parameters		MAGIC=100501; CommentEA="Comment EA"; ModeECN=true; MoneyManagement=0; RiskLots=0.1; Indent=2; BarsTrailStop=16; FractalDistances=43;
Bars in test	62639	Ticks modelled	177592358	Modelling quality	99.90%
Mismatched charts errors	0
Initial deposit	10000.00			Spread	Variable
Total net profit	1095.20	Gross profit	49389.64	Gross loss	-48294.44
Profit factor	1.02	Expected payoff	0.70
Absolute drawdown	857.69	Maximal drawdown	2292.97 (19.87%)	Relative drawdown	19.87% (2292.97)
Total trades	1564	Short positions (won %)	960 (54.90%)	Long positions (won %)	604 (52.32%)
		Profit trades (% of total)	843 (53.90%)	Loss trades (% of total)	721 (46.10%)
Largest		profit trade	384.69	loss trade	-284.55
Average		profit trade	58.59	loss trade	-66.98
Maximum		consecutive wins (profit in money)	11 (445.31)	consecutive losses (loss in money)	10 (-1045.32)
Maximal		consecutive profit (count of wins)	618.67 (4)	consecutive loss (count of losses)	-1045.32 (10)
Average		consecutive wins	2	consecutive losses	2