Murasame MT5
- Experts
- Version: 6.4
- Activations: 5
Overview
"Murasame" is an EA designed to capture the large price swings of GBPJPY over the medium to long term.
GBPJPY tends to sustain trends on the long side, while moving sharply over short periods on the short side. Based on this, the EA combines medium-to-long-term trend following on longs with short-term scalping on shorts.
The core strategy is long-side trading, with the short side designed only to the extent that it doesn't interfere with this. Shorting GBPJPY tends to result in losses under many strategies, partly due to frequently unfavorable swap rates. If you find this disadvantageous, shorts can be disabled via a parameter.
Longs aim to capture the early stage of a trend reversal and follow with a trailing stop once in profit. Since longs tend to be unfavorable on Thursdays and Fridays, no new long entries are opened on those two days.
No grid, no martingale, no averaging down. Hedging (holding both long and short simultaneously) can occur but can be toggled via a parameter. TP/SL are always set, so losses are limited.
Average holding time is about 18 hours for buys and 8 hours for sells. Positions may be held over the weekend.
According to backtest analysis, the EA trades roughly 100–150 times per year. In rare cases, there may be no trades for an entire month.
To control over-optimization and ensure reproducibility, this EA was developed using a combination of MT5 real tick testing and MT4 TDS (Tick Data Suite). (This development process has been used since version 4.9.)
To prevent unnecessary losses, the EA includes a range of supporting features that reduce operational mistakes, such as automatic chart setup, duplicate magic number alerts, and prevention of entries when funds are insufficient.
It also retains the detailed trade output logging and on-chart trade history display used during development.
This makes the EA approachable for those new to automated trading, while still meeting the needs of experienced users. Please start by testing it on a demo account.
Live Forward Test
You can view the live results on myfxbook via the link in the video channel description.
Setup
- Currency pair | GBPJPY
- Timeframe | 5-minute chart
- GMT | +2/+3 (Daily chart, 5 bars per week only)
- MT4 display bar count setting | 1000 or more
*Note: Even if attached to a currency pair other than GBPJPY, the EA will automatically switch to and set up on the GBPJPY chart.
Specifications
- Number of positions | 2 (1 per side)
- Hedging | Yes (adjustable)
- Max TP/SL | 300/180 pips (adjustable)
- Weekend carryover | Yes
- Year-end/New Year | No new entries Dec 21 - Jan 3; only closing trades executed
Parameter Overview
- Initial Balance | The reference balance for Lot Growth Rate. Enter your balance at the start of trading, in your account currency.
- Lot Growth Rate | Rapid lot changes carry higher risk, so lot changes can be controlled. At 0 the base is fixed at Initial Balance; at 100 it fully follows the selected fund balance.
- Allowed range from average spread | This sets the allowed deviation from the internally measured average spread. Since rollover periods are hard to control with a maximum value alone, setting a deviation range from the average provides broader coverage.
- Export trade info to CSV | Outputs details such as execution spread, average spread, and slippage for each trade.
*Note that logs may be output twice when a position closes via TP/SL. - Show P/L pips on chart | Displays the trade line and pips on the chart.
How to Determine Compound Lot Size
Lot size should be decided at your own responsibility, according to your trading environment and capital. No recommended values are provided.
When Lot Calculation Mode is set to 1=Balance or 2=Free Margin, the lot size is determined as follows:
- Base balance = Initial Balance + (Fund balance for 1 or 2 − Initial Balance) × Lot Growth Rate
- Lot size = Base balance × Risk Percent ÷ (SL pips × profit/loss per pip for 1 lot)
* The larger of the Buy SL and Sell SL (in pips) is used.
- Enter your balance at the start of trading in Initial Balance, in your account currency.
- Run a backtest optimization on two parameters: Risk Percent and Lot Growth Rate.
- Check the maximum drawdown in the results list and choose a combination you can tolerate.
* In backtests, currency conversion rates may be calculated with approximate values. The lot size will not exactly match live trading, so please use it as a guide.
