Viseu Open 001 Likely Profitable Expert Advisor

As always, I have been searching for profitable no cost alternatives to commercial expert advisors. Recently, I came across the Viseu Open 001 expert advisor. I found it on an Asian forum and have grown a serious interest on it’s trading methodology. The expert advisor makes trading decisions based on several moving averages and the rsi indicator. The system makes high probability, low profit trades, which I think is a good efficient way in which expert advisors can attain profitability.
The best news, is probably the backtesting I performed on the expert advisor using one minute data (90% modeling quality). I tested the expert advisor for almost nine years, from 1999 to 2008; using a 10 pip take profit and a 35 pip stoploss, the expert managed to grow an account from 10,000 to more than 10 million dollars (2% risk on each trade). The expert got a relative draw down of about 25% with an absolute draw down of 8.31%. Viseu was barely profitable from 1999 to 2001 but after that year it was constantly winning. Overall the expert advisor won a high percentage of trades (almost 84%) over the nine years.

I have now started the forward testing of this expert advisor on my vps to know for sure if there is consistency between back testing and real market performance.

I am sorry not to include the complete backtesting file here but it is too big to upload and share on my vps (would consume all my bandwidth if everyone checked it out) so I will include it on the next edition of my ebook (which I will send to the people who have already purchased and will purchase the preliminary version). Below is the back testing chart for this ea.

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14 Responses to “Viseu Open 001 Likely Profitable Expert Advisor”

  1. dim13 says:

    Could you please provide the link to the Viseu Open 001 EA ? I am interested. Thank you. Mike

  2. Daniel says:

    Hello Mike,

    Sure, you can get it here . Your Welcome

  3. dim13 says:

    Thank you Daniel !!! Which currency did you get those great results backtesting (EurUsd ?) ? Also, could you tell me the parameters you used to get those results ? My backtest results don’t look nearly as good as yours. Thanks again. Mike.

  4. Mark says:


    In order to get better results try to set 1 lot instead of 0.1 (ofcourse I would not do that with deposit lower than $10k). You could change also the stoploss from 35 to 45 – seems to be giving better results (but ofcourse bigger drawdowns aswell). I personaly don’t care about drawdowns (if they are not larger than 70% of my account). As long as the risky trades keep me in profit, it’s ok :)

    However I do not understand the Magic number value of this ea. Daniel could you please explain me the purpose of it? Is it some date number (therefore should be edited) or is this just a fixed value? Thank you.

  5. Daniel says:


    The values I worked with were : stop loss = 35 pips, take profit = 10 pips, risk = 0.02 (every other variable was left as default). To match my back testing results, make sure that you are obtaining 90% modeling quality and that you have data back to 1999.

    The magic number parameter is the identification number of the expert advisor. It makes it possible for metatrader to distinguish which trades were done by which expert advisor, in case you have many. As long as every expert advisor you work with has a different magic number, the numerical value is irrelevant.

  6. Dwi says:

    And what time frame shall we use? or any TF will do

  7. Mark says:

    Hi Daniel,

    Thanks for the info. May I ask you if you have any trick to perform the backtests with 90% modelling quality? I’m asking because I made several diferent backtests with different timeframes but always get only 25% modelling quality :(

  8. Daniel says:

    Hi ,

    I forgot to say that I used EUR/USD on the 30 minute time frame.

    Mark, you got a lower modeling quality because your historical data is not complete enough. You need to download one minute data for the whole historical period you want to test.

  9. Muhammad says:

    Hi, I have this EA currently setup on all 4 of the Major pairs, but it is only opening on my USD/CHF. Can it run simulaneously on all 4 pairs? So far, on my USD/CHF it profitted on 4 out of 6 trades. Any suggestions to make it run on the other pairs? thanks.

  10. Daniel says:

    Hi Muhammad,

    I wouldn’t recommend running it on all of the 4 majors since back tests only show it to be profitable on the EUR/USD and less profitable on the USD/CHF. It loses money on other currency pairs.

  11. AM says:

    Hi Daniel,
    First off… I’d like to say I thoroughly enjoyed your blog. Thank you very much for all of your insights.

    Now for the question :) Where can I get the data going back to 1999?

  12. Mark says:

    It doesn’t seem to have great results in 2008 unfortunately. I mean it doesn’t looses money but it doesn’t make much either…

  13. Franklin says:

    How is your forward testing of this EA? BTW, I’m doing a backtest on this EA and I can’t get it to work correctly. I have done many bactestings on EA successfully but not this one. Could you explain how you did it?

  14. rvn320 says:

    Dear Sir,

    Where can I download this ” Viseu Open 001 ” likely profitable EA ?

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