This guide covers installation, run modes, ready-made set files and common questions for FXEA365 Bitcoin Comet on MetaTrader 5. Bitcoin Comet is a Donchian trend follower for BTCUSD on the H4 chart. It enters when price breaks beyond the recent Donchian channel (default 20 H4 bars) by a confirmation buffer measured in ATR, only in the direction of the SMA200 slope, and exits with an ATR stop that then trails; there is no fixed take-profit. From v1.44 three additional strategies run next to COMET on a hedging account: an H4 volatility-squeeze breakout, a D1 long-term trend strategy and an H1 volatility-expansion breakout. Figures in this guide are as of 2026-11-09.
Installation and first run
1. Open a BTCUSD chart and set it to H4. The core COMET strategy follows the chart's timeframe, and every figure in this guide was measured on H4, so use H4 in the Strategy Tester too.
2. Drag the EA onto the chart and allow algorithmic trading in the Common tab.
3. Turn on Algo Trading in the terminal toolbar.
4. Use a hedging account to run all four strategies. On a netting account the EA automatically trades only the original COMET engine.
5. A VPS is recommended. The COMET stop is executed by the EA itself, so it protects positions only while the EA is running. The three additional strategies send their stop loss to the broker server with every order.
6. Check your broker's crypto leverage, minimum lot and margin for BTCUSD before you start.
Leverage and account
- Leverage 1:100 or higher is comfortable.
- Position size comes from a risk percentage of balance against the initial stop distance (RiskPercent, default 2.0), with a hard maximum-lot cap (MaxLot, default 5.0).
- All published tests used a deposit of $10,000. No separate minimum deposit figure is published; check that your broker's minimum lot still fits your RiskPercent at your balance.
Run modes
The signal is the same in every mode; only position-sizing risk changes. All tests: MT5 Strategy Tester, 1-minute OHLC (98% history quality), BTCUSD H4, 2018-2025, deposit $10,000. Backtests are historical simulations, not a live record, and do not indicate future performance.
- Defensive (default since v1.46), all four strategies on a hedging account: +591%, profit factor 2.36, maximum equity drawdown 8.2% (relative 13.5%), 775 trades. COMET alone: +104%, profit factor 2.57, maximum equity drawdown 5.5%.
- Standard, COMET alone: +324%, profit factor 2.37, maximum equity drawdown 8.3%. All eight calendar years were positive at Standard, from +9% to +52% per year, within that 8.3% drawdown.
- Aggressive, COMET alone: +1,328%, profit factor 2.03, maximum equity drawdown 16.1%.
- Ultra (the default up to v1.45), all four strategies: +12,279%, profit factor 1.73, maximum equity drawdown 26.4% (relative 31.0%). COMET alone: +3,700%, profit factor 2.19, maximum equity drawdown 18.2%.
The COMET-alone test had 128 trades with a win rate of 46.1%. No forward test is published for this EA.
Set files
The run mode is chosen with the RunMode input (an enum). Each set changes only the run mode; all other inputs stay at their defaults (all four strategies on).
Defensive (default)
; RunMode 0 = MODE_DEFENSIVE
RunMode=0
Copy these lines into a text file named BitcoinComet_Defensive.set, save it in MQL5\Presets, then load it in the EA's Inputs tab with Load.
Standard
; RunMode 1 = MODE_STANDARD
RunMode=1
Copy these lines into a text file named BitcoinComet_Standard.set, save it in MQL5\Presets, then load it in the EA's Inputs tab with Load.
Aggressive
; RunMode 2 = MODE_AGGRESSIVE
RunMode=2
Copy these lines into a text file named BitcoinComet_Aggressive.set, save it in MQL5\Presets, then load it in the EA's Inputs tab with Load.
Ultra (the v1.45 behaviour)
; RunMode 3 = MODE_ULTRA
RunMode=3
Copy these lines into a text file named BitcoinComet_Ultra.set, save it in MQL5\Presets, then load it in the EA's Inputs tab with Load.
Prop firm (Defensive with the default four strategies on a hedging account, the configuration measured above at 8.2% maximum equity drawdown, relative 13.5%)
; RunMode 0 = MODE_DEFENSIVE
RunMode=0
Copy these lines into a text file named BitcoinComet_PropFirm.set, save it in MQL5\Presets, then load it in the EA's Inputs tab with Load.
Compare these figures with your firm's daily-loss and maximum-loss rules before you start.
COMET engine alone: the Standard and Aggressive figures above, and the COMET-alone figures for the other modes, were measured with the additional strategies off. To reproduce that configuration, add these three lines to the set of your mode:
UseCoilEngine=false
UseGlacierEngine=false
UseThunderEngine=false
FAQ
Q: Which chart should I attach it to?
A: BTCUSD H4. The core strategy follows the chart's timeframe and every figure in this guide was measured on BTCUSD H4.
Q: Does it use martingale or grid?
A: No. No grid, averaging or martingale is part of the described logic. Each trade is sized from RiskPercent against its initial stop, capped by MaxLot.
Q: Does it work on a netting account?
A: Yes, but only the original COMET engine trades there. The three additional strategies need a hedging account.
Q: Can I use it on a prop-firm account?
A: Use the prop-firm set above (Defensive, four strategies, hedging) and compare its 8.2% maximum equity drawdown (relative 13.5%) with your firm's rules. Also check whether your firm allows crypto trading and its leverage on BTCUSD.
Q: Does it need a VPS?
A: Yes, recommended. The COMET trailing stop is managed by the EA, so the terminal must stay connected.
Q: My broker calls the symbol BTCUSDm or XBTUSD. Does it work?
A: Yes. The EA recognises Bitcoin symbols that contain BTC or XBT; on other names it prints a warning. Check contract size and minimum lot, which vary a lot between brokers.
Q: What about news?
A: A news pause from the built-in MetaTrader calendar is included (no external connection), along with a daily-loss stop, a consecutive-loss guard and a weekend-close option.
Q: How do I check it in the Strategy Tester before buying?
A: Run the free demo on BTCUSD H4 with "1 minute OHLC", 2018 to 2025, deposit $10,000. With the additional strategies off you should see about 128 trades and a 46.1% win rate; with the defaults, about 775 trades. Crypto history differs a lot between brokers, so some gap is normal.
Q: What should I do during a drawdown?
A: It is a trend follower. Win rates of about 40-46% and many small losses or scratches are normal; a minority of long trends carry the result, and long stretches of small losses in ranging markets are part of the design. Compare the drawdown with the figure for your mode. Stepping up to a higher mode during a losing stretch raises the risk at the point where you already have the least room.
Q: How do updates work?
A: Updates arrive through the MQL5 Market. Since v1.46 the default mode is Defensive; to keep the v1.45 behaviour, select Ultra. After an update, check RunMode, RiskPercent and MaxLot.
Risk warning
Bitcoin is highly volatile, can gap, and trend-following systems go through long stretches of small losses in ranging markets. Backtests are historical simulations and do not indicate future performance. Start on a demo account in Defensive mode, step up only if you accept the larger drawdown, and trade only money you can afford to lose.
