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EA review - Tesseract

Rating total:
Backtests:
Live performance:
Risk control:
Customizability:
Price:
Vendor link | Price: $490  (2020.05.14)
Trading strategy: Counter-Trend
Vendor live account: No
Own live account: No
Latest tested version:   1.90
Latest tested date: 2019.10.02
Risk factors:

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

There is no live signal from the author, non-recommended pairs do not work and even the recommended pair is inconsistent with regards to a 28 years shift of the tick data. Three reasons to be cautious about the strategy.

Fixed lot size backtests

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

Dukascopy 2019.10.02, version 1.90

Full backtest report

Strategy Tester: Tesseract
SymbolGBPUSD (Great Britain Pound vs US Dollar)
Period1 Hour (H1) 2010.01.01 02:00 - 2019.09.25 09:00 (2010.01.01 - 2019.09.30)
ModelEvery tick (the most precise method based on all available least timeframes)
ParametersMAGIC=100501; CommentEA="Comment EA"; ModeECN=true; MoneyManagement=0; RiskLots=0.1; Indent=2; BarsTrailStop=16; FractalDistances=43;
Bars in test62709Ticks modelled226477131Modelling quality99.90%
Mismatched charts errors0
Initial deposit10000.00SpreadVariable
Total net profit68024.20Gross profit134795.40Gross loss-66771.20
Profit factor2.02Expected payoff29.46
Absolute drawdown288.00Maximal drawdown1022.20 (2.33%)Relative drawdown4.79% (748.00)
Total trades2309Short 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%)
Largestprofit trade442.50loss trade-348.50
Averageprofit trade94.86loss trade-75.19
Maximumconsecutive wins (profit in money)32 (1944.70)consecutive losses (loss in money)6 (-656.10)
Maximalconsecutive profit (count of wins)1944.70 (32)consecutive loss (count of losses)-656.10 (6)
Averageconsecutive wins3consecutive losses2
Graph

Full backtest report

Strategy Tester: Tesseract
SymbolGBPUSD (Great Britain Pound vs US Dollar)
Period1 Hour (H1) 1982.01.01 00:00 - 1991.09.26 02:00 (1982.01.01 - 1991.09.30)
ModelEvery tick (the most precise method based on all available least timeframes)
ParametersMAGIC=100501; CommentEA="Comment EA"; ModeECN=true; MoneyManagement=0; RiskLots=0.1; Indent=2; BarsTrailStop=16; FractalDistances=43;
Bars in test62707Ticks modelled176379845Modelling quality99.90%
Mismatched charts errors0
Initial deposit10000.00SpreadVariable
Total net profit-95.00Gross profit105466.70Gross loss-105561.70
Profit factor1.00Expected payoff-0.03
Absolute drawdown1073.70Maximal drawdown5550.30 (38.28%)Relative drawdown38.28% (5550.30)
Total trades2809Short 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%)
Largestprofit trade447.50loss trade-323.50
Averageprofit trade87.31loss trade-65.93
Maximumconsecutive wins (profit in money)7 (140.70)consecutive losses (loss in money)12 (-587.70)
Maximalconsecutive profit (count of wins)1068.50 (4)consecutive loss (count of losses)-1106.80 (9)
Averageconsecutive wins2consecutive losses2
Graph

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Comments

ak77: Please tell me more. How to shift 28 years.

ForexBenchmark Team: The way we do it: We export Dukascopy tick data to csv format with Tick Data Suite. Then we use a Python script to shift the dates by 28 years. And afterwards we again import the data into Tick Data Suite as a new symbol.

ak77ty: Thank you🥺

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