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MT Crazy

Trading Strategy of MT Crazy EA

  1. This EA is made based on trading strategy idea for my signal MT Crazy at https://www.mql5.com/en/users/joychan469/seller
  2. Opening signal is based on RSI and Simple Moving Averages.
  3. There is an EA parameter to allow reverse of signals, if you prefer.
  4. When the price goes against the initial trade, a sequence of trades are opened at a distance from each other for the averaging strategy. Minimum distance between trades is specified in the EA parameters. The actual distance between trades is further decided by the internal signalling system by Moving Averages.

Money Management

  1. Money management is available by user configurable emergency close all trades by drawdown percent. Drawdown is calculated based on balance vs equity.

Important Notes

  1. MT Crazy EA default settings is optimized to NZDUSD, H1 time frame with "Low Risk" settings.
  2. For Broker Minimum lot size = 0.01, recommended to use EA on account of at least US$2000 or US CENT 2000.
  3. For Broker Minimum lot size = 0.10, recommended to use EA on account of at least US$20000 or US CENT 20000.
  4. Recommended to use EA on broker that allows placing of stop level equal to your take profit level in EA parameters.

Settings / EA Parameters

  • EA Operation = Turn off and on EA. When EA Operation is set to false, any open trades will continue to be managed until the basket of trades is closed. EA operation = False means the EA will not open any new INITIAL trades. Averaging trades will still be open when needed
  • Max Drawdown in % = Value set here is max drawdown accepted. When drawdown reaches this value, all trades will be closed
  • Risk = Risk setting controls lot size. The lot size is not user configurable because averaging trades are very risky. User should select from 1 of 4 modes; "Low Risk", "Medium Risk", "High Risk" and "TURBO". (Recommended values: Low risk, Medium Risk)
  • Minimum Distance in PIPS = Minimum steps in PIPS for the grid strategy, before next averaging trade is opened. (Recommended values: 5 to 10 for many trades, 30 to 90 for moderate trades but greater stability, or 150 to 400 for long term trades with greatest stability)
  • Take Profit in PIPS = Take profit in PIPS for initial trade AND basket of trades (calculated from break even point) (Recommended values: 2 to 8 for scalping [please watch out for broker stop levels] or 12 to 30 for normal)
  • RSI Period = RSI Period of indicator used for calculation of direction of initial trade. (Recommended values: 3 to 7 for scalping, 14 for normal)
  • RSI Applied = RSI Setting; Close Price, Open Price, etc. (Recommended values: Open Price for scalping or Close Price for stability)
  • RSI Bar = 0 means calculation based on current bar, 1 means calculation based on previous bar
  • Reverse Signals = Reverse the logic of the decision to open buy or sell
  • Magic Number = Magic Number of Trades opened by EA
  • Comments = Comments attached to trades opened by EA
Ovidiu Caslariu
2016.07.09 19:39 

User didn't leave any comment to the rating

Version 2.0 - 2016.06.06
- Bug fix for bug where Take Profit level is incorrectly calculated
- Bug fix for bug where existing trades are not recognized by EA when EA is reattached to chart or when a chart is accidentally closed
- Greatly improved EA code
- Added Moving Averages indicator to the signal system
- Added smart averaging system based on Moving Averages
- Removed Martingale
- Defaults optimized for new currency pair NZDUSD, H1 for low profit but with stability (tested 2010 till today)
- Added TURBO Mode
- Added more information to information panel on a chart