Eagle MG MT5
- Experts
- Version: 1.9
- Activations: 10
Eagle MG is a grid Expert Advisor for AUDCAD and NZDCAD that reads H1 bars. It opens a trade in the direction of the last closed bar and, if price moves against it, adds trades at a set distance with a lot that grows by one starting lot at each new trade. The series closes in profit when price comes back, or closes in loss when it reaches its maximum number of trades. This is a grid system with an increasing lot: please read the risk section before using it.
Live track record
Live signal running since March 2024: Eagle MG signal.
All our live signals: Financial Freedom Signals. Our shop: Financial Freedom Shop.
Key features
Presets: the tested parameters for AUDCAD and NZDCAD are applied automatically
Buy and sell series run independently on the same pair
Lot progression: fixed, sum (1, 2, 3... times the starting lot) or multiplier
Profit targets set net of commission and swap
Each series has a maximum number of trades, then it is closed
Lot sizing: fixed lot, or the starting lot for every X of balance
Margin protection: no new trades, and all trades closed, before the broker's stop out level
On-chart panel with lot, spread, open profit and closed profit
How it works
Entry: when no buy series is open and the last closed H1 bar closed higher than the one before, the EA opens a buy; the same for sell after a lower close.
Series: when an H1 bar closes at least 23 pips (AUDCAD) or 19 pips (NZDCAD) against the last trade of the series, the EA adds a trade, at least one hour after the previous one. Each new trade adds one starting lot: 0.01, 0.02, 0.03 lots and so on.
Exit in profit: a single trade closes when its profit, net of commission and swap, passes 0.50 (AUDCAD) or 1.00 (NZDCAD) for every 0.01 lots and the last H1 bar closed beyond its entry price; a series of two or more trades closes together when an H1 bar closes one step above (buy) or below (sell) its last trade and the total profit, net of commission and swap, is above a minimum calculated from the distance.
Exit in loss: when a series would need more trades than its maximum (15 on AUDCAD, 16 on NZDCAD), the EA closes the whole series.
Optional Stop Equity: closes all trades of the EA at a % of the balance or at an amount for every 0.01 lots.
Risk
The lot grows with every new trade of a series. When price runs far against a series, the position is large and the open loss grows until the series reaches its maximum number of trades and is closed. Most of the losses come from a few of these closures. A buy series and a sell series can run on the same pair at the same time, and with two pairs two series can be closed in loss in the same period.
Set the starting lot from your balance, not from the profit you want: use 0.01 lots on each pair for every 10,000 EUR, for example with Lot Sizing = For Every and Lot Size for every... = 10000. In the 2015-2025 backtest at this ratio, the largest equity drawdown was 19.9% (2015).
How we test
Backtests run on 100% real ticks from 2015 to 2025, with commission and swap deducted from every trade. The images show backtest results on historical data, not live trading.
The backtests were run in the MetaTrader 5 Strategy Tester with the MT5 build of version 1.9, which has the same parameters and default inputs. In the tester the MT5 build sets the profit targets net of the modelled commission and swap; on a live account both builds use the commission and swap charged by the broker. Results in the MT4 Strategy Tester will differ.
Requirements
Pairs: AUDCAD and NZDCAD, one chart for each pair. The presets recognise the pair also with a broker suffix (for example AUDCAD.fx). On other symbols the EA uses the input values, which are not tested.
Timeframe: any, the EA always reads H1 bars. The EA sets its own chart colours.
Account: ECN / low spread, hedging account. On a netting account the EA holds one position at a time. Spread, commission and swap reduce the results.
Minimum balance: 5,000 EUR for every 0.01 lots of starting lot on each pair, with AUDCAD and NZDCAD running together (leverage 1:100 or higher); in the 2015-2025 backtest at this ratio the largest equity drawdown was 29.6% (2015). Recommended: 10,000 EUR, which kept it under 20%.
VPS recommended, running 24 hours a day, 5 days a week.
Settings
General
Magic Number: give each EA on the account a different number
Use symbol presets: on AUDCAD and NZDCAD it replaces the manual settings with the tested values
Show Panel, Text Font Size, Draw closed profit on chart
Entries and lot size
Allowed Positions: long and short, only long or only short
Open new Buy series / Open new Sell series: when off, open series continue but no new series starts
Lot Sizing: Fixed Lot, or For Every (the starting lot for every X of balance)
Starting Lot Size, Lot Size for every... (balance)
Max Spread (points): new trades open only while the spread is below this value (0 = no limit; the presets use 30)
Manual settings (used when no preset applies)
Lot Progression (Fixed, Sum Lot, Multiplier) and Multiplier
Min Buy / Sell distance (pips): distance between the trades of a series
Profit of the 1st position (per 0.01 lot), Min series profit (0 = automatic)
Buy / Sell max positions, Close the series at max positions
Double lot after a stop: after a series closed in loss, the next series uses a double lot until the loss is recovered
Exit
Stop Equity mode (% of balance or amount for every 0.01 lots) and Stop Equity value (0 = off)
About us
Financial Freedom is a team with more than 12 years of experience in algorithmic trading. We answer every comment and review.
Disclaimer: this is not financial advice. Please do your own analysis and testing. Forex trading carries a high risk: you can lose all your capital.
