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Momentum EA

MOMENTUM EA is a price action swing system which does 2 things:

  • First strategy will hunt down strong price movements. It will then start opening multiple trades in the direction of that trend. The trades will either hit Take profit or Stop loss, or the EA will close the group of trades when it exceeds a certain profit. It is NOT a grid system and will only place extra trades if the momentum of the trend is continuing. If there is a reversal in the trend, it will not add extra trades.
  • Second strategy will try to catch these trend reversals. Also with this strategy, the EA will open multiple trades if the reversal trend is strong.


Settings

  • All trades have stop loss at a safe, but not too far distant. Protecting capital is rule number 1 in trading.
  • Some trades have fixed take profit, others will use a trailing stop
  • Multiple algorithms are used for managing the closing of the trade(s)
  • Even if price doesn't reach the take profit levels, the group of open trades can still close in profit. So we don't always need the trend to be very strong to be profitable.
  • Proved money-management techniques, used in all my EA's.
  • This is a long term EA, which does a lot of trades, but it will not trade every day. Only when strong price movements are detected, trades will be opened.
  • The EA is very versatile: it can be used and optimized on multiple timeframes and for multiple pairs. More timeframes and pairs will become available in the future.
  • The EA uses only candle OPEN and CLOSE values, so less risk for faulty backtesting (tick data testing and 'open-prices only' backtesting are almost identical)
  • This EA uses pure PRICE ACTION (price movement) for entering trades. No lagging indicators are used.
  • The EA has an "automatic settings loading" system build in, so it will automatically select the best settings for the pair and timeframe.
  • The EA is very limited influenced by spread or slippage, so it is safe to run in almost all market conditions and trade-account types.
  • The EA can do a lot of trades, so it is also very interesting to use it for rebates!


Parameters

  • OneChartSetup: If set to true, the EA will run all pairs on the timeframe of the chart. The pairs you want to use must be set in the following parameters
  • Run_M1: here you can set all the pairs that will run on the M1 timeframe when OneChartSetup is enabled
  • Run_M5: here you can set all the pairs that will run on the M5 timeframe when OneChartSetup is enabled
  • Run_M15: here you can set all the pairs that will run on the M15 timeframe when OneChartSetup is enabled
  • Run_H1: here you can set all the pairs that will run on the H1 timeframe when OneChartSetup is enabled
  • Run_ST1: when enabled, the EA will run the Strategy A trades (which will catch strong trending breakouts)
  • Run_ST2: when enabled, the EA will run the Strategy B trades (which will catch the reversal of a strong but false breakout)
  • DeletePendingOrdersOnRestart: when enabled, the EA will first delete all pending orders when re-attaching the EA to the chart
  • Autolotsize: when set to 'true', the EA will automatically determine the lotsize, based on the balance and the lotsizesteps parameter
  • LotsizeSteps: here you can set the step-size of balance, for which the EA will use 0.01lots (when using autolotsize)
  • OnlyUp: When set to 'true', the EA will never lower the lotsize if balance goes down
  • StartLots: here you can set the lotsize that you want to use (when autolotsize is disabled)
  • MaxLots: here you can set the maximum lotsize that the EA will use
  • Trade_comment: here you can set the comment that the EA will use for the trades.


Recommended pairs and timeframes

  • M1: EURUSD and GBPUSD,
  • M5: EURUSD, GBPUSD, USDCHF, EURGBP, AUDUSD, USDJPY, EURJPY, GBPJPY, EURAUD, NZDUSD, EURCAD, USDCAD and XAUUSD
  • M15: EURUSD, GBPUSD, USDCHF, USDCAD, USDJPY, EURJPY, GBPJPY, AUDUSD, NZDUSD, EURAUD, EURCAD, EURGBP and XAUUSD
  • H1: EURUSD, GBPUSD, USDCHF, USDCAD, USDJPY, EURJPY, GBPJPY, AUDUSD, NZDUSD, EURAUD, EURCAD, EURGBP and XAUUSD

Since the EA can open a lot of trades, it is recommended to use an account with a high leverage (1:500 is recommended); or you can use a bigger account balance, or use a cent account.

Try the demo now!


About the Author

I have been trading Forex for more than 10 years and have been developing EA's for more than 3 years. All my EA's must always meet certain very strong criteria: live results must match the backtests; the EA should be as independent as possible from different market conditions (such as spread, slippage); EA's should follow simple, but powerful logic that works long term; EA's should not be over-optimized and should work even when parameters are changed; EA's should ALWAYS use a Stop Loss which risk only very little of the account.

Antonio Martinez
524
2017.04.29 15:51 
 

Mein erster Monat war ziemlich schlecht.

Momentan nur H1 und M15

März 2017: https://drive.google.com/file/d/0B8HUMvY1Ph4WamZmU1NPUlk1bXc/view?usp=sharing

März - April 2017: https://drive.google.com/file/d/0B8HUMvY1Ph4WNHJ5LW5SR2U0T2c/view?usp=sharing

Thorsten Rohweder
645
2017.04.28 12:25 
 

Good. This EA wins on price fly away crying headache situations where other EAs hit SL. Added to my portfolio.

What is the difference between Momentum EA and Martingale EA ?

Martingale wins a bit and then looses a lot.

Momentum EA looses a bit then wins a lot.

Why ? Momentum will follow the trend, Martingale crashes against trend.

It's your choice.

Update 28.04.2017 : one of the best EA. I cannot understand the negative comments here. Be patient, do not interrupt, do not overload with wrong (big) position sizes).

AQUILALLC
105
2017.04.18 14:59 
 

Trade rules are very simple.But it is very profitable.

Perhaps it will be useful for a long term.

The reversal deal is very powerful.

Even if the first position becomes SL,the reversal position will recover the loss.

Manabu Yanagita
568
2017.04.11 22:58 
 

Account funds are decreasing rapidly ...

1810208ywcx
389
2017.03.29 02:34 
 

very good

1807063911
147
2017.03.21 10:10 
 

实盘70天,见证了这个伟大的作品。维姆说的是正确的,他需要时间和耐心,等待趋势的到来。他是一个趋势杀手,平时你不需要关注他。完美的大作!他的一次激活价值200美元,如果你需要他,不要错过。qq403222893

Giovanni Pascoli
1121
2017.03.17 08:48 
 

Very profitable EA. Wim is very professional developer. Top EA on MQL5.

Wim's help and support is excellent.

Konstantin Evsyukov
425
2017.03.14 20:37 
 

for too long the robot

Andrey
216
2017.03.05 21:39 
 

As I understand it, the positive feedback this has worked well in the past (a good test), and, in the opinion of the Creator in the future (long term expert) )) Like a real user of this EA, can report about the real picture of the present time: earns a month, for a week and loses even more. If the Creator of the EA right about the long term, rent is not suitable at all! Extend the lease at current losses will look like attempt to win.

Ranothil
41
2017.03.02 19:57 
 

This EA is the best I've ever seen. I have developed EA's, and I do know that the only way to create a profitable one is to have dynamic entries and exits which Wim coded beautifully. Most of the haters are expecting a strategy which never loses. Wim's EA does have losing streaks, but in the end it is a very profitable strategy. And Wim is very patient and answers all questions you may have.

Francisco Javier Lucena Zurera
517
2017.03.01 23:28 
 

Is a serious realistic EA with realistic backtests in H1 especially. I recommend it. It´s many difficult search one EA and author like this and it´s many difficult that I put 5 stars for one EA

Amit27
86
2017.02.28 20:27 
 

Hello everyone,

I have been seeing some negative comments regarding this EA and I would like to share my experience.

Firstly, if you have thoroughly back tested the system and then started to get wildly differing result while running it live, you have a reason to be pissed off or angry with the product. If you did not do your due diligence with testing the system, you have no reason to be angry. It is your fault for not testing and finding what the largest draw downs, losing streaks, ect are.

Before I purchased the EA, I did extensive testing with it in the backtester to figure out if it was really worth my time and money. I found that if I ran it on only one pair, EURUSD H1 and only strategy 1, the EA would produce results that were within my appetite for risk. After purchasing it, I retested to make sure my results were similar and I found no major differences. For the testing, I ran it with a $5000USD account and a 0.10 Lot size so that each pip would be worth $1 USD and I ran the tester on every tick to try and be as accurate as possible. Therefore, I could determine the pip values for each period I tested then apply my own money management after. I am going to post a spreadsheet of my monthly results below. Notice that if you were to run the whole test from Jan,1,2000 to the date in which I stopped, the total amount is off by about 400-500 pips. This is my margin of error that resulted in testing each month Individually and not just testing the period as a whole.

If you have any question, comments or concerns, dont hesitate to ask. These results are my personal testing. Please do your own testing and dont copy my results.

https://docs.google.com/spreadsheets/d/1ul2Zs7IpGFHloAI6XmhtfO4V78rZ8zWYmUleUevKmek/edit?usp=sharing

anbaa
930
2017.02.28 17:05 
 

Excellent signal, great support.

The system works best in trending markets and needs to be run over a longer period of time to show off.

Chaise Taylor
224
2017.02.20 19:51 
 

I rented this for three months. Wim offers no support. The EA will look good on the backtest but on a live account it will just lose your money. It opens multiple trades for the same pair in both directions hoping to catch a trend but the trade will always hit the stoploss.

teimurazz
138
2017.02.10 14:21 
 

User didn't leave any comment to the rating

seemore
104
2017.02.10 06:57 
 

More and more posters are catching on about the poor results of this EA. Here is my experience on both live and demo accounts.

The reason it's on sale is because it's results aren't as promoted in the unrealistic back testing (which is always the case, not just for this EA ), but also the mediocre live fx book results (a fluke period perhaps?).

My experience after purchasing this product for US$750 is the same as plenty of the other commenters who have experienced sustained losses with this software. Let me explain......

The losing trade rate was typically around 95%. In its best week it maybe lost only 75% of trades. I ran it for almost 2 weeks on a live account and it chewed through $700 using confirmed settings and autolot sizes. After this it was switched to a demo account for the last 3-4 weeks and its loss rate hasn't improved (using only the H1 "less risky" setting) any and it has chewed through another $2000 of fake money at least now.

The claim that this software hunts down strong price movements is only correct in that it will pile on trades to price movements that have already happened, expecting that there'll be a bigger trend (it relies on the mega movements that shock the markets every few weeks or so). In reality what happens is it opens trades at the peak of a movement (or trough) and then with the inevitable pullback all of those piled on trades tap out on the stoploss. It is claimed that the software can be controlled to only have two trades open per currency pair (that is you flick off strategy two), I have not found this to be the case with it opening 3,4,5 trades late into a price movement and then all tapping out. It typically magnifies losses in uncontrollable manner, I can trade manually better than this thing and have since recovered my losses with signal services and my own trading.

With the strategy that sets up staggered buy stop and sell stop orders, it even ended up opening a buy and a sell order on the same currency pair simultaneously at the top and bottom of a channel (it supposedly doesn't do hedging). The type of price movement needed to make such trading profitable would be like winning the lottery.

The live FX books results show a four-month period where it was profitable (this must be a fluke period). Have a close look at those results and see that 85% of the total profits in a four-month period were accumulated on just seven days. That isn't the results of an algorithm that is working well, it's essentially relying on market shocks and piling trades on late to possibly get by in the long run.

I wasn't expecting it to be magical, but I did expect it to function with a winning trade rate that is at least within the same order of magnitude as is promoted in the backtesting and fx book results (call me crazy).

Watching this thing trade is pure chaos, like a monkey is hitting buy/sell orders on the keyboard. You will pull your hair out watching it pile on trades late into a price movement that you know is about to pullback.

This guy talks a great game but don't let him pull the wool over your eyes and claim that changing lot sizes is going to affect the viability of an EA that typically has a loss rate of 90+ percent of trades. No amount of account management will sustain such a loss rate. And don't let him tell you that "it's the markets fault" for not moving much this week when it opens a tonne of trades late into a price movement that pullback and tap out. I wasted 750 USD, don't even bother renting it.

proftoe
77
2017.01.19 18:55 
 

User didn't leave any comment to the rating

mohdasalah
34
2017.01.16 06:55 
 

I lost today as much as I gain in the last week.

dilaw
46
2017.01.11 18:49 
 

Worst ever, i have lost 300$ today!!!!!! i want my money back.

CupidAlaska
463
2017.01.05 18:08 
 

This EA does what it says on the tin!

I can only agree with all of the points Francesco has raised in his very detailed review before me.

Thank you Wim for your continuous efforts and sharing your EA's with the community!

Francesco Cardinale
220
2016.12.30 18:25 
 

Hi all

I trade since 8 years ago in forex, as much of the people at begging I already passed the dream phases where I believe that few usd cost scalping EA or few eur martungale systems could have made me rich in few time.

Thanks to had suffered more than one full account blowing I quickly realized that to achieve reliable long term results in trading is an hard work in any case !

1) If you want to do it manually you need to lear a lot about strategies and tactics and stay in front of you compututer at least few hours/day.

2) If you want to use automatic trading system, then it is not less hard because there you will find tons of "fantasic promises" that at least 99% of the cases will not be kept or will have hidden risks, and this means may be you will see very nice profit for few days or few weeks or even few months, but some morning you will wake up and will find your balance at zero.

Then I choose the second option and decided to really learn how to evaluate a trading system.

After this several years study, I am able to select very few (but excellent) EA to put in my portfolio, trading live account and see my profit grown month after month.

A selected Momentum EA as one of my most favorite EA in my portfolio, and want to share with you the most important point in my checklist that Momentum EA passed and, according with my experience, this are the key points to secure, first of all really control of the risk and be sure I can always forecast the maximum drawdown that I am prepared to accept, second, as logical conseguence, I will see my profit expectations fullfilled. These checklist aim not only to see the profit potential but, more important, the stability od teh results in the past that is the most logical metrics to keep expectation for the future.

I suggest who is considering to buy sume EA to check if it fullfill the ALL the following points.

I did it with hundreds of EA in mql5.com market and Momentum EA is the only one that mach all !!!

So as a christmas gift to all of you that will avoid you to avoid lose money in buying not good EA, to avoid you to lose a lot of money in using not good EA and will you to realize why Momentum EA is a really professional trading system where you can keep serious expctation for the future.

Checkpoints:

- it is not scalping

- it is not martingale

- never add to loosing positions

- Profit Factor in Pips is almost similar to Profit Factor in USD

- forward test results in terms of pips and USD are close with tick by tick backtest results (difference less than 10%)

- backtest with open bar results in terms of pips and USD are close with tick by tick backtest results (difference less than 10%)

- average trade duration > 1 hour

- average pips/trade > 10

- average pips of winning trade divided average pips of loosing trades > 2

- SQN1 on 10 years backtest: average pips/trade divided standard deviation pips/trade > 0.2

- SQN2 on 10 years backtest: average pips/day divided standard deviation pips/day > 0.2

- SQN1 and SQN2 calculated every year 2 years never goes below 0.1

- Montecarlo yearly_profit divided Montecarlo max drawdown calculate on 10 years trade results is > 2

- Montecarlo yearly_profit divided Montecarlo max drawdown calculate on 10 years daily results is > 2

- MaxExposure (max number of open trades at the same time multiplied max pips lost in losing trade) < max Montecarlo daily drawdown

- The seller believe in his product and, as logical conseguence provide reasonble rent price and reasonable signal price

- The seller provide good and quick support

- The seller is the developper directly

In coonclusion I want to adda than for me Momentum EA fullfilled all these points already with verion 2.9, with the new 3.0 versione and great improvement on H1 timeframe, Wim did an even better job an all the previous parameters now are even much better the minimum required threshold.

So it is up to you decide if Momentum EA is for you or not, but I am sure it is great for me and I need to thanks Wim one time more for his great job.

Happy new year to all of you.

craigjritchie
230
2016.12.30 09:06 
 

So far so good. An impressive EA, but the most outstanding thing is Wim's help and support in getting it up and running, his quick responses to queries.

Unrivaled professionalism along with a very solid product.

Vin86
238
2016.12.22 13:14 
 

Patience paid off good..a good EA. I made at least 10x of the price I paid..Wim has been very nice and extremely supportive.

Antonio
214
2016.12.10 12:09 
 

Simple but effective strategy and great support by Wim!

Yuan Liu
650
2016.11.18 14:04 
 

This is best EA.

Frank B
809
2016.11.09 08:09 
 

Seems to be very good on the longterm

Carl Tilley
454
2016.09.08 20:12 
 

Absolutely Superb! Wim really knows his stuff, and this one is making good consistant gains with low DD. I've already made back the purchase price. Thanks for the great support

and for making such a great EA.

Sergey Genikhov
1639
2016.08.03 09:45 
 

As usual excellent support.

So far i am in profit

Shuqi Yang
370
2016.07.28 20:11 
 

Wim is really professional in his work, and from his EAs, you can see it is really a QUALITY EA. You can see he is trying to make sure the EA works well in default without optimization for anyone to use. As it is relatively new it will take me sometime to review again to see if backtest matches live forward tests. As usual, will review in 6 months time!

shawnnny
433
2016.07.20 15:17 
 

Great support and communication from Wim as always!

Hongfan Gu
349
2016.07.19 18:10 
 

The author gives support in time, I will be according to the performance of the EA, adjust my evaluation

Version 3.6 - 2017.04.25
- Improved the first strategy performance when running on GBPJPY M5 timeframe (less drawdown, higher profit factor)
- Add M30 timeframe (only Strategy 1 for now)
Version 3.5 - 2017.02.20
Version 3.5
- improved usdcadM5B
- improved eurcadM5B
- improved usdchfM5B
- improved euraudM5B
- improved eurgbpM5B
- improved gbpjpyM5B
- improved eurjpyM5B
- improved nzdusdM5B

Version 3.4
- updated eurcad M15 A+B
Version 3.3 - 2017.02.10
Version 3.3
- Updated usdchf M15A
- Updated audusd M5A
- Updated euraud M5A
- Updated eurcad M5A
- Updated eurgbp M5A
- updated eurjpy M5A
- updated gbpusd M5A + B
- updated nzdusd M5A
- updated usdchf M5A
- updated eurusd M5B
- updated usdjpy M5A
Version 3.2 - 2017.02.01
Version 3.2
- Improved AUDUSD M15
- Improved EURJPY M15A + B
- Improved USDCAD M15A + B
- Improved USDJPY M15A + B
- Improved EURUSD M15B
- Improved EURGBP M15B
- Improved GBPUSD M15B
- Improved XAUUSD M15B
Version 3.1 - 2017.01.25
- Improved eurjpy M15 and usdcad M15 and audusd M15
Version 3.0 - 2016.12.15
Version 3.0
- Improved EURUSD H1
- Improved XAUUSD H1
- Improved USDCAD H1
- Improved EURAUD H1
- Improved EURJPY H1
- Improved EURGBP H1
- Improved GBPJPY H1
- Improved USDCHF H1
- Improved GBPUSD H1
- Fixed the DeletePendingOrdersOnRestart when using OneChartSetup
- Added option to wait for first next candle before putting trades when attaching EA to chart
Version 2.9 - 2016.12.07
Version 2.9
- Improved audusd H1 for higher spreads
- improved usdjpy H1
- Added eurcad M5
- Improved EURCAD H1
- improved NZDUSD H1
Version 2.8 - 2016.11.18
Added NZDUSD M5 and USDCAD M5
Improved GBPJPY H1
Version 2.5 - 2016.11.04
- added support for EURJPY M5 and GBPJPY M5
- Improved EURAUD M15
- Added choice between strategy 1 and 2
Version 2.2 - 2016.09.29
- Improved USDJPY M5
- added support for EURAUD M5
Version 2.1 - 2016.09.21
- Added EURGBP M5, AUDUSD M5 and XAUUSD M5 support
Version 2.0 - 2016.08.31
- added support for EURGBP M15, EURCAD M15, NZDUSD M15 and XAUUSD M15
- Implemented the One Chart Setup
- fix some issues with cent accounts or brokers that use a minimum stoplevel > 0
- Improved USDJPY M15
Version 1.8 - 2016.08.19
- improved USDCAD H1 and AUDUSD M15 for bigger spread
Version 1.7 - 2016.08.16
- Added support for AUDUSD M15 and USDCAD M15
Version 1.6 - 2016.08.12
Added support for usdchf M15 and usdjpy M15
Version 1.5 - 2016.08.08
- Added support for GBPUDS M15, EURAUD M15, EURJPY M15, GBPJPY M15 and USDCHF M5
- Improved EURUSD M1
- Improved AUDUSD H1
- fixed some small bugs
Version 1.2 - 2016.07.25
- Added support for USDJPY M5
- Added support for GBPUSD M1
- Added support for EURUSD M15
- Added support for H1 pairs: eurusd, gbpusd, usdchf, usdcad, gbpjpy, eurjpy, usdjpy, audusd, nzdusd, euraud, eurcad, eurgbp and xauusd
- Improved GBPUSD M5
- fixed some bugs