Snowballed MT4
- Experts
- Xingming Chen
- Version: 2.0
- Updated: 16 January 2023
- Activations: 7
Strategy Summary & Advantages:
- It's a full-automatic short-term trading EA based on the advanced technic, it sells out when overbought and buys in when oversold, and makes profit while the market is rolling back.
- No Martingale, no Grid, no Hedging, no Averaging, using low stoploss for all trades (defaults from 30 pips to 100 pips).
- It is especially designed to avoid slippage, no Breakout, no Night Scalper, it can makes the large lot of trade.
- Using default settings and buid-in technical parameters, no need to do the tedious adjustment working.
- The average of position holding time is about 3 hours, the maximum is 15 hours.
- With protect function of account drawdown.
MT5 version: https://www.mql5.com/en/market/product/87412
Supported FX pairs:
- EURUSD, GBPUSD, USDCHF, USDJPY, USDCAD, EURGBP, AUDNZD, EURAUD, EURCAD, CHFJPY, EURNZD, GBPCAD, XAUUSD.
EA Running:
- VPS: No special requirement.
- Broker: With low spread (very important).
- The minimum deposit: USD100.
- Working timeframe: H1.
- This is a multicurrency EA, you just attach it on one chart, then select to ‘ture’ for the FX pairs which you want to trade, and specify the trading volume, the EA will run automatically and trade all pairs you selected.
Remark: You need to change the symbol name if your broker's symbols aren't matched with the default settings.
EA Parameters:
- Magic: EA magic.
- FixLots: Fixed trading lot.
- AutoLots: If select ‘true’, EA will automatically calculate trading lot base on ‘BalancePerLot’; if select ‘false’, EA will works on fixing lot.
- MaxLots: Maximum trading lot.
- BalancePerLot: Needed account balance per opening one standard lot (trading lots = AccountBalance / BalancePerLot).
- AccountEquityMaxDrawdown (percentage, 0-100): Maximum drawdown percentage of account floating loss, all trades will be closed while the account floating loss drop below the setting value.
- PortfolioMaxOpenPositions: Maximum open positions.
- EAComments: EA comments .
- UseSymbol: The symbol will works if select ‘true’, it will not works if select ‘false’.
- Symbol: Symbol name, including of suffix. Eg, input ‘EURUSD.r’ if broker has suffix ‘.r’ .
- MaxSpreads: Maximum spread in pips.
- TakeProfit: Take profit in pips.
- StopLoss: Stop loss in pips.
Reference Settings (13 pairs):
| TradingModels | BalancePerLot* (USD) | ExpectedAnnualReturn** | ExpectedAccountDrawdown** | AccountEquityMaxDrawdown (Percentage) | AccountLeverage (At least) |
|---|---|---|---|---|---|
| Stabler | 50K | 50% - 100% | 10% or more | 6 | 30 |
| Stable | 20K | 150% - 300% | 25% or more | 15 | 100 |
| Middle | 10K | 500% - 1,500% | 50% or more | 30 | 200 |
* Need to convert currency if your account is not in US dollor. E.g., if your account currency is in Euro, and the ‘BalancePerLot’ is selected for USD10K, the current quote of EURUSD is 1.11020, then the ‘BalancePerLot’ in Euro is: 10K/1.11020 ≈ 9007.
** Based on the backtesting.
EA Back-testing:
- Model: Every tick.
* For detailed test report, please go to the comment area of this EA to download it. If you want to do backtesting, it's suggested to use the real tick data, otherwise you will not get the accurate test results, but this could take several weeks. You can use the MT5 version to do backtesting, it can test multiple symbols, fast and easy to use.
Very Important:
This EA is only designed for:
- The brokers whose trading platform time are GMT+2 (or GMT+3 when daylight saving is in effect), no need to setup GMT offset.
- The account with 3 digits of ‘JPY’ pairs, 5 digits of other FX pairs, and 2 digits of XAUUSD(Gold).
If you want to run the EA in the broker with 3 digits of Gold, please change the SL and TP of Gold to "DefaultValue*100", such as the default SL is 15 and TP is 30, after adjusted, the new SL is 1500 and TP is 3000.
- The above requirements are included in most of brokers, such as IC Markets, Pepperstone, FP markets and Go Markets, etc.
Average wins and big losses. I advised the author to implement a news filter because it is each time the news that caused the big losses, but he prefers to "play at the casino" with this one. Currently losing 7% on my live account. I will update in 1 month, if I haven't stopped it before...
Of course there is no EA that will do 100%. I just want to see the count go up and not down like it is right now. I just hope it's not the result of over optimization.
Update : EA stopped, BT and real not matching. Waste of money.