Trading style: opens a basket of up to 4 positions based on volatility; takes profit at 20 pips and has a hard SL of 380 pips for GBPUSD (9/300 for EURUSD), but closes way before that most of the time.
Currency pairs: GBPUSD, EURUSD
Timeframe: M15
Price: $299 (EURUSD is a separate premium license charged $14.90 per month)
License: 1 live account, unlimited demo accounts
NFA compliance: yes
Refund policy: 60 days unconditional
Read more at the Volatility Factor website

Buy Volatility Factor

Note: as specified in the manual, one should carefully choose their risk when using this EA. It can have drawdowns in excess of 1500 pips. Hitting a full SL for all 4 trades would mean a drawdown of 380 * 4 = 1520 pips. My account uses an AutoMM of 0.5 in an attempt to keep the relative drawdown below 20-25%. The manual offers quite a few details and recommendations on account sizes vs lot sizes.

Birt’s forward test

Settings: default, AutoMM 0.5
Started: 27.03.2012
Broker: PrivateFx
Account type: live, micro
Starting balance: $300
Current EA version: 5.0
Currency pairs: EURUSD, GBPUSD

Volatility Factor live forward test

Official accounts

Settings: unspecified
Started: 06.01.2012
Broker: Alpari NZ
Account type: demo
Currency pairs: GBPUSD

Volatility Factor official Alpari NZ demo account



Settings: unspecified
Started: 06.01.2012
Broker: FxPro
Account type: demo
Currency pairs: GBPUSD

Volatility Factor official FxPro demo account

Backtests

Note: the EA does not open any positions prior to 2008 in backtests. This seems to be a hardcoded limitation. My best guess is that its optimized for the past 3-4 years.

History center data

Volatility Factor 3.0 2008-2012 EURUSD history center data backtest, spread 1.0, default settings, AutoMM 1

Volatility Factor 3.0 2008-2012 EURUSD history center data backtest, spread 1.0, default settings, AutoMM 1

Show backtest summary »

SymbolEURUSD (Euro vs US Dollar)
Period15 Minutes (M15) 2007.01.02 00:00 - 2012.03.26 20:00
ModelEvery tick (the most precise method based on all available least timeframes)
ParametersMagic=2012345; EA_Comment="VolatilityFactor"; MaxSpread=3.5; Slippage=2; NFA=false; AutoGMT_Offset=true; ManualGMT_Offset=2; CS="==== Custom Settings ===="; BetterPricePips=0; MaxNegAdds=3; ForceProfit=0; ForceLoss=0; FixedTakeProfit=0; FixedStopLoss=0; MM="==== Risk Management ===="; RecoveryMode=false; FixedLots=0.1; AutoMM=1; AutoMM_Max=5;
Bars in test125261Ticks modelled47314749Modelling quality90.00%
Mismatched charts errors0
Initial deposit300.00
Total net profit3862.19Gross profit6659.09Gross loss-2796.91
Profit factor2.38Expected payoff0.83
Absolute drawdown1.21Maximal drawdown297.16 (9.97%)Relative drawdown22.94% (156.43)
Total trades4674Short positions (won %)2481 (82.55%)Long positions (won %)2193 (84.09%)
Profit trades (% of total)3892 (83.27%)Loss trades (% of total)782 (16.73%)
Largestprofit trade19.89loss trade-57.02
Averageprofit trade1.71loss trade-3.58
Maximumconsecutive wins (profit in money)48 (83.54)consecutive losses (loss in money)8 (-28.38)
Maximalconsecutive profit (count of wins)111.95 (20)consecutive loss (count of losses)-211.25 (4)
Averageconsecutive wins9consecutive losses2

Volatility Factor 3.0 2008-2012 GBPUSD history center data backtest, spread 1.5, default settings, AutoMM 1

Volatility Factor 3.0 2008-2012 GBPUSD history center data backtest, spread 1.5, default settings, AutoMM 1

Show backtest summary »

SymbolGBPUSD (Great Britain Pound vs US Dollar)
Period15 Minutes (M15) 2007.01.02 00:00 - 2012.03.26 20:45
ModelEvery tick (the most precise method based on all available least timeframes)
ParametersMagic=2012345; EA_Comment="VolatilityFactor"; MaxSpread=3.5; Slippage=2; NFA=false; AutoGMT_Offset=true; ManualGMT_Offset=2; CS="==== Custom Settings ===="; BetterPricePips=0; MaxNegAdds=3; ForceProfit=0; ForceLoss=0; FixedTakeProfit=0; FixedStopLoss=0; MM="==== Risk Management ===="; RecoveryMode=false; FixedLots=0.1; AutoMM=1; AutoMM_Max=5;
Bars in test125092Ticks modelled45803323Modelling quality90.00%
Mismatched charts errors0
Initial deposit300.00
Total net profit31818.37Gross profit75597.82Gross loss-43779.45
Profit factor1.73Expected payoff7.36
Absolute drawdown19.12Maximal drawdown4707.03 (15.40%)Relative drawdown19.39% (139.35)
Total trades4321Short positions (won %)2207 (79.75%)Long positions (won %)2114 (82.26%)
Profit trades (% of total)3499 (80.98%)Loss trades (% of total)822 (19.02%)
Largestprofit trade179.87loss trade-955.25
Averageprofit trade21.61loss trade-53.26
Maximumconsecutive wins (profit in money)40 (48.43)consecutive losses (loss in money)8 (-185.67)
Maximalconsecutive profit (count of wins)2005.98 (31)consecutive loss (count of losses)-3412.83 (4)
Averageconsecutive wins8consecutive losses2

Tick data

Volatility Factor 3.0 2008-2012 EURUSD tick data backtest, real spread, default settings, AutoMM 1

Volatility Factor 3.0 2008-2012 EURUSD tick data backtest, real spread, default settings, AutoMM 1

Show backtest summary »

SymbolEURUSD (Euro vs US Dollar)
Period15 Minutes (M15) 2007.03.30 16:01 - 2012.03.26 12:59
ModelEvery tick (the most precise method based on all available least timeframes)
ParametersMagic=2012345; EA_Comment="VolatilityFactor"; MaxSpread=3.5; Slippage=2; NFA=false; AutoGMT_Offset=true; ManualGMT_Offset=2; CS="==== Custom Settings ===="; BetterPricePips=0; MaxNegAdds=3; ForceProfit=0; ForceLoss=0; FixedTakeProfit=0; FixedStopLoss=0; MM="==== Risk Management ===="; RecoveryMode=false; FixedLots=0.1; AutoMM=1; AutoMM_Max=5;
Bars in test124139Ticks modelled71124282Modelling quality99.00%
Mismatched charts errors0
Initial deposit300.00
Total net profit1836.32Gross profit5586.88Gross loss-3750.56
Profit factor1.49Expected payoff0.23
Absolute drawdown5.35Maximal drawdown245.06 (16.06%)Relative drawdown38.79% (194.22)
Total trades8090Short positions (won %)4342 (83.12%)Long positions (won %)3748 (83.94%)
Profit trades (% of total)6755 (83.50%)Loss trades (% of total)1335 (16.50%)
Largestprofit trade8.85loss trade-33.71
Averageprofit trade0.83loss trade-2.81
Maximumconsecutive wins (profit in money)57 (57.47)consecutive losses (loss in money)9 (-16.82)
Maximalconsecutive profit (count of wins)63.48 (52)consecutive loss (count of losses)-124.97 (4)
Averageconsecutive wins9consecutive losses2

Volatility Factor 3.0 2008-2012 GBPUSD tick data backtest, real spread, default settings, AutoMM 1

Volatility Factor 3.0 2008-2012 GBPUSD tick data backtest, real spread, default settings, AutoMM 1

Show backtest summary »

SymbolGBPUSD (Great Britain Pound vs US Dollar)
Period15 Minutes (M15) 2007.03.30 16:01 - 2012.03.26 12:59
ModelEvery tick (the most precise method based on all available least timeframes)
ParametersMagic=2012345; EA_Comment="VolatilityFactor"; MaxSpread=3.5; Slippage=2; NFA=false; AutoGMT_Offset=true; ManualGMT_Offset=2; CS="==== Custom Settings ===="; BetterPricePips=0; MaxNegAdds=3; ForceProfit=0; ForceLoss=0; FixedTakeProfit=0; FixedStopLoss=0; MM="==== Risk Management ===="; RecoveryMode=false; FixedLots=0.1; AutoMM=1; AutoMM_Max=5;
Bars in test124135Ticks modelled65015040Modelling quality99.00%
Mismatched charts errors0
Initial deposit300.00
Total net profit4401.79Gross profit12859.50Gross loss-8457.72
Profit factor1.52Expected payoff0.85
Absolute drawdown8.54Maximal drawdown565.64 (13.34%)Relative drawdown42.57% (330.12)
Total trades5152Short positions (won %)2678 (77.97%)Long positions (won %)2474 (79.67%)
Profit trades (% of total)4059 (78.78%)Loss trades (% of total)1093 (21.22%)
Largestprofit trade20.07loss trade-132.39
Averageprofit trade3.17loss trade-7.74
Maximumconsecutive wins (profit in money)32 (83.62)consecutive losses (loss in money)8 (-97.46)
Maximalconsecutive profit (count of wins)157.66 (21)consecutive loss (count of losses)-484.58 (6)
Averageconsecutive wins7consecutive losses2

I decided the drawdowns in the tick data backtests (albeit mostly floating) are a bit too much for my taste so I also ran some more backtests with AutoMM 0.5, which is the setting that I ended up running with on my live account. The drawdown was – naturally – much lower.

Volatility Factor 3.0 2008-2012 EURUSD tick data backtest, real spread, default settings, AutoMM 0.5

Volatility Factor 3.0 2008-2012 EURUSD tick data backtest, real spread, default settings, AutoMM 0.5

Show backtest summary »

SymbolEURUSD (Euro vs US Dollar)
Period15 Minutes (M15) 2007.03.30 16:01 - 2012.03.26 12:59
ModelEvery tick (the most precise method based on all available least timeframes)
ParametersMagic=2012345; EA_Comment="VolatilityFactor"; MaxSpread=3.5; Slippage=2; NFA=false; AutoGMT_Offset=true; ManualGMT_Offset=2; CS="==== Custom Settings ===="; BetterPricePips=0; MaxNegAdds=3; ForceProfit=0; ForceLoss=0; FixedTakeProfit=0; FixedStopLoss=0; MM="==== Risk Management ===="; RecoveryMode=false; FixedLots=0.1; AutoMM=0.5; AutoMM_Max=5;
Bars in test124139Ticks modelled71124282Modelling quality99.00%
Mismatched charts errors0
Initial deposit300.00
Total net profit645.55Gross profit1925.45Gross loss-1279.91
Profit factor1.50Expected payoff0.08
Absolute drawdown3.00Maximal drawdown82.32 (20.51%)Relative drawdown20.51% (82.32)
Total trades8114Short positions (won %)4360 (82.84%)Long positions (won %)3754 (83.62%)
Profit trades (% of total)6751 (83.20%)Loss trades (% of total)1363 (16.80%)
Largestprofit trade2.33loss trade-9.15
Averageprofit trade0.29loss trade-0.94
Maximumconsecutive wins (profit in money)57 (19.53)consecutive losses (loss in money)9 (-8.41)
Maximalconsecutive profit (count of wins)19.53 (57)consecutive loss (count of losses)-32.68 (4)
Averageconsecutive wins9consecutive losses2

Volatility Factor 3.0 2008-2012 GBPUSD tick data backtest, real spread, default settings, AutoMM 0.5

Volatility Factor 3.0 2008-2012 GBPUSD tick data backtest, real spread, default settings, AutoMM 0.5

Show backtest summary »

SymbolGBPUSD (Great Britain Pound vs US Dollar)
Period15 Minutes (M15) 2007.03.30 16:01 - 2012.03.26 12:59
ModelEvery tick (the most precise method based on all available least timeframes)
ParametersMagic=2012345; EA_Comment="VolatilityFactor"; MaxSpread=3.5; Slippage=2; NFA=false; AutoGMT_Offset=true; ManualGMT_Offset=2; CS="==== Custom Settings ===="; BetterPricePips=0; MaxNegAdds=3; ForceProfit=0; ForceLoss=0; FixedTakeProfit=0; FixedStopLoss=0; MM="==== Risk Management ===="; RecoveryMode=false; FixedLots=0.1; AutoMM=0.5; AutoMM_Max=5;
Bars in test124135Ticks modelled65015040Modelling quality99.00%
Mismatched charts errors0
Initial deposit300.00
Total net profit971.86Gross profit3073.30Gross loss-2101.44
Profit factor1.46Expected payoff0.19
Absolute drawdown3.98Maximal drawdown130.68 (26.59%)Relative drawdown26.59% (130.68)
Total trades5145Short positions (won %)2680 (78.10%)Long positions (won %)2465 (79.55%)
Profit trades (% of total)4054 (78.79%)Loss trades (% of total)1091 (21.21%)
Largestprofit trade3.32loss trade-21.55
Averageprofit trade0.76loss trade-1.93
Maximumconsecutive wins (profit in money)32 (22.42)consecutive losses (loss in money)8 (-37.28)
Maximalconsecutive profit (count of wins)26.49 (23)consecutive loss (count of losses)-72.37 (6)
Averageconsecutive wins7consecutive losses2

Oanda tick data, timeshifted 28 years in the future

Since the EA has a hardcoded limitation and it only starts trading in backtests when 2008 is reached, there were a few requests to run some backtests with the data shifted in the future. The only “good” shift that makes the days of the month land on the same day of the week is 28 years; the problem is that MT4 has a limitation and is unable to run backtests past January 2038 so it follows that it’s impossible to test past 2010 using this method. Even knowing this, creating the files up to 2010 (shifted to 2038) is a royal pain in the ass and I don’t recommend trying this at home. I chose the Oanda tick data because it spans a larger interval (2004-2012 vs 2007-2012 for Dukascopy) and consequently yields a longer backtest period. Both backtests are using real spread.

Volatility Factor 3.0 2004-2010 (timeshifted 28 years ahead) EURUSD Oanda tick data backtest, real spread, default settings, AutoMM 0.5

Volatility Factor 3.0 2004-2010 (timeshifted 28 years ahead) EURUSD Oanda tick data backtest, real spread, default settings, AutoMM 0.5

Show backtest summary »

SymbolEURUSD (Euro vs US Dollar)
Period15 Minutes (M15) 2032.01.01 07:30 - 2038.01.19 03:12
ModelEvery tick (the most precise method based on all available least timeframes)
ParametersMagic=2012345; EA_Comment="VolatilityFactor"; MaxSpread=3.5; Slippage=2; NFA=false; AutoGMT_Offset=true; ManualGMT_Offset=2; CS="==== Custom Settings ===="; BetterPricePips=0; MaxNegAdds=3; ForceProfit=0; ForceLoss=0; FixedTakeProfit=0; FixedStopLoss=0; MM="==== Risk Management ===="; RecoveryMode=false; FixedLots=0.1; AutoMM=0.5; AutoMM_Max=5;
Bars in test524288Ticks modelled43068917Modelling qualityn/a
Mismatched charts errors0
Initial deposit3000.00
Total net profit3393.82Gross profit9769.98Gross loss-6376.16
Profit factor1.53Expected payoff0.64
Absolute drawdown497.47Maximal drawdown522.72 (17.28%)Relative drawdown17.28% (522.72)
Total trades5296Short positions (won %)2729 (79.96%)Long positions (won %)2567 (81.34%)
Profit trades (% of total)4270 (80.63%)Loss trades (% of total)1026 (19.37%)
Largestprofit trade11.13loss trade-79.99
Averageprofit trade2.29loss trade-6.21
Maximumconsecutive wins (profit in money)44 (125.65)consecutive losses (loss in money)9 (-52.61)
Maximalconsecutive profit (count of wins)125.65 (44)consecutive loss (count of losses)-296.22 (4)
Averageconsecutive wins8consecutive losses2

Volatility Factor 3.0 2004-2010 (timeshifted 28 years ahead) GBPUSD Oanda tick data backtest, real spread, default settings, AutoMM 0.5

Volatility Factor 3.0 2004-2010 (timeshifted 28 years ahead) GBPUSD Oanda tick data backtest, real spread, default settings, AutoMM 0.5

Show backtest summary »

SymbolGBPUSD (Great Britain Pound vs US Dollar)
Period15 Minutes (M15) 2032.01.01 17:45 - 2038.01.14 09:45
ModelEvery tick (the most precise method based on all available least timeframes)
ParametersMagic=2012345; EA_Comment="VolatilityFactor"; MaxSpread=3.5; Slippage=2; NFA=false; AutoGMT_Offset=true; ManualGMT_Offset=2; CS="==== Custom Settings ===="; BetterPricePips=0; MaxNegAdds=3; ForceProfit=0; ForceLoss=0; FixedTakeProfit=0; FixedStopLoss=0; MM="==== Risk Management ===="; RecoveryMode=false; FixedLots=0.1; AutoMM=0.5; AutoMM_Max=5;
Bars in test524288Ticks modelled38703011Modelling qualityn/a
Mismatched charts errors0
Initial deposit3000.00
Total net profit4315.96Gross profit21819.90Gross loss-17503.94
Profit factor1.25Expected payoff0.65
Absolute drawdown1086.36Maximal drawdown1190.21 (38.35%)Relative drawdown38.35% (1190.21)
Total trades6639Short positions (won %)3325 (76.21%)Long positions (won %)3314 (78.58%)
Profit trades (% of total)5138 (77.39%)Loss trades (% of total)1501 (22.61%)
Largestprofit trade31.89loss trade-95.89
Averageprofit trade4.25loss trade-11.66
Maximumconsecutive wins (profit in money)41 (239.46)consecutive losses (loss in money)12 (-118.04)
Maximalconsecutive profit (count of wins)295.42 (36)consecutive loss (count of losses)-412.77 (8)
Averageconsecutive wins8consecutive losses2