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The Viper EA MT5

4.08

NOTE: only recommended for these pairs currently: EURAUD;GBPAUD;GBPCHF;EURCHF;AUDCAD and AUDUSD

NEW PROMO:

  • Only a few copies copies available at 349$
  • Next price: 449$
Make sure to check out our "Ultimate EA combo package" in our promo blog!

The Viper EA uses sharp and effective "mean reversion" entries during the ranging period of the trading sessions (between 23h and 1h GMT+2, US DST).   

These trades already have a very high succesrate, but if the market turns against the position, the EA will initialize its trademark recovery mode.

The recovery algorithm will try to convert every unsuccesfull first entry into a profitable result.  

This EA was developed using live results from my previous EA's as starting point, and optimized using 99.99% Tickdata on MT5, using 7$/lot commission on each trade.

It has been stress-tested with multiple "random settings" for all pairs and succeeded every single test.  This means that the risk of over-optimization is minimized to almost zero.



Supported pairs: GBPCAD;GBPCHF;GBPAUD;CHFJPY;AUDCHF;EURCHF;EURUSD;CADCHF;GBPJPY;GBPUSD;AUDCAD;AUDUSD;EURJPY;USDCHF;AUDJPY;USDCAD;EURGBP;EURAUD;EURCAD;

Timeframe: M15

Recommended minimum balance: 150$ -> max 4 pairs. For running all 20 pairs, 500$ or more is recommended

For the AutoGMT and news filter to work: it is important to add these 2 URL's to the "allowed URL's" in the  MT4/MT5 settings (Tools -> Options -> Experts):

  • https: //ec.forexprostools.com/
  • https: //www. worldtimeserver.com/
  • (remove the spaces!)



Setup:

  • The EA does not require any setfile to run.  All pairs are pre-optimized and settings are stored internally.
  • Simply run the EA on a EURUSD M15 chart, and then in the parameters: enable the OneChartSetup and set the pairs you wish to use.
  • Either choose fixed lotsize (AutoLotMode = use StartLots) or automatic lotsize based on balance/equity (AutoLotMode = use LotsizeStep).
  • When using all 20 pairs -> Low risk (DD up to 15%): use LotsizeStep=2000 and minimum 2000$ balance; Medium Risk (DD up to 30%): use LotsizeStep=1000 and minimum 1000$ balance ; High Risk (DD up to 60%): use LotsizeStep=500 and minimum 500$ balance.  These value are based on USD.  If you are using a different base currency on your accounts, please convert these values first.
  • You can also run on smaller account (minimum 150$ recommended when running max 4 low risk pairs) if you select only a few pairs to trade.
  • When using less pairs, it is best to do the backtest on MT5 to determine the max drawdown, and based on that, set your LotsizeStep accordingly.


How to backtest:

  • It is highly recommend to run backtests on MT5 platform.  That way you can test the whole portfolio at once using real ticks with variable spreads.  This will be the closest you can get to real live trade conditions.
  • On MT5, Run the backtest on EURUSD M15 and enable the OneChartSetup in the parameters.
  • Select the lotsize settings (fixed lot, or LotsizeStep for automatic lotsize).
  • Set testing quality to "1 minute OHLC" for faster, but quite reliable testing or "every tick based on real ticks" for most reliable testing.


Settings of the EA:

  • "EA Settings" -> here you can allow the infopanel to be shown, adjust its size, set the comment for the trades, set the magicnumber for the EA, enable the OneChartSetup and choose which pairs to run.
  • "Trading times" -> here you can choose when the EA should start trading (only regarding the first trade, not the recovery trades).  Recommended not to change this.
  • "First Trade Settings" -> here you can set max spread for the first trade, as well as choose if you want to use marketorders instead of pending orders, and virtual TP or not.
  • "Recovery trades settings" -> here you can simply choose "use Auto Settings" if you want to use my optimized settings for all pairs, or set up everything manually to your own optimization (Optimization set).  More detailed explanation -> click here.
  • "News Filter" -> here you can enable, and adjust the news filter (only for the first trade).
  • "Lotsize Settings" -> Here you can set up the lotsize calculation method.
  • "GMT settings" -> here you can simply use AutoGMT (recommended) or set it up manually.
  • "Roll over filter" -> here you can configure the rollover-filter to prevent starting to trade during rollover.



Reviews 12
Jiří Hromádka
65
Jiří Hromádka 2023.01.07 15:21 
 

I have been using the bot since the beginning and it generates stable profit. I run it with low risk, news filters on and with JPY pairs and so far I'm very satisfied with its performance.

Chaikit
138
Chaikit 2022.11.06 14:06 
 

7 months past, still good result

hoblermathias
674
hoblermathias 2022.04.24 12:15 
 

I have already used several EA's from wim and so far the trust in his work has always paid off. Viper is very profitable for me (no jpy pair). If you look at the backtest and understand how Viper works you will get very nice profits with it. Again a very good EA from wim!!!

When the market has normalized again, I will also use the jpy pairs again.

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Amgad Ahmed Ali Megahed
2588
Amgad Ahmed Ali Megahed 2024.02.17 13:51 
 

one of the worst ever .

Jiří Hromádka
65
Jiří Hromádka 2023.01.07 15:21 
 

I have been using the bot since the beginning and it generates stable profit. I run it with low risk, news filters on and with JPY pairs and so far I'm very satisfied with its performance.

Chaikit
138
Chaikit 2022.11.06 14:06 
 

7 months past, still good result

Shehzad Khaldoun Bhunnoo
185
Shehzad Khaldoun Bhunnoo 2022.05.15 08:43 
 

Similar to another review, I have found that the risk/reward ratio is very bad in terms of SL vs TP level. At 0.1 lots, SL around -$100, profit around $5-10 average. The ratio doesn't really make sense. It does win more trades than it loses, but the losing trades wipe out 5-10x worth of winning trades. Also, a lot of trades are in and out very quickly (within a few hours), but some trades stay live for around a week or so. Because of the large SL I have turned off higher vol pairs and am only trading USDCAD, USDCHF, AUDCAD, EURCAD (per a comment from Wim elsewhere). I have also turned off the recovery trade (max trades = 1), as when a position went bad, having multiple trades on made the loss substantially greater, making it more like $500 loss (5 trades for one position) instead just the SL on one trade. Questions for Wim: - can we customise the SL setting? I'd prefer a smaller SL that get hits a bit more often and focus on higher momentum trades. - is it possible to set a trade timeout to close? if it hasn't hit SL/TP within X hours, then close it out anyway.

hoblermathias
674
hoblermathias 2022.04.24 12:15 
 

I have already used several EA's from wim and so far the trust in his work has always paid off. Viper is very profitable for me (no jpy pair). If you look at the backtest and understand how Viper works you will get very nice profits with it. Again a very good EA from wim!!!

When the market has normalized again, I will also use the jpy pairs again.

Profalgo Limited
65835
Reply from developer Wim Schrynemakers 2022.04.24 14:05
Thx mate!
dream74917
246
dream74917 2022.04.19 08:42 
 

Keep open positions against trend…

Profalgo Limited
65835
Reply from developer Wim Schrynemakers 2022.04.19 09:04
it does exactly the same trades as in backtests, so no surprise about this in live trading.
henity
121
henity 2022.04.19 08:34 
 

Not good as expected. Running for 1 week, it opened some pairs with JPY positions, since strong traend against JPY, GBPJPY short positions cannot be recovered even with recovery setting. The only thing I can do is waiting for SL.

Profalgo Limited
65835
Reply from developer Wim Schrynemakers 2022.04.19 09:04
JPY pairs are going crazy at the moment indeed. Hard to trade them currently
Kiel Hudson
526
Kiel Hudson 2022.04.07 16:36 
 

This mac is wack, yo...classic Wim. I'm using .1 lots...a win is typically around $10...a loss, well I'm at -$350 DD right now with an order that would have given me a $10 profit. Is that worth the risk to you? This EA might be good in the long term at LOW risk....as long as it doesn't hit the SL too often. However this is my first week of testing, and it's already blown past all the grids used to try and make profit with this thing. I won't even think about going lower than 1000 risk on a higher balance. Will update this review as more time passes, but I just wanted to post a bit of a warning. Happy Trading :)

Edit: Just responding to Wims response. If the max DD is 30% for medium risk settings, why not post that in your EA description, instead of the one that says max DD 10%? A little bit misleading, no? Anyways, it's just my first impressions, and i think they are valid. Just be careful and don't go nuts with this thing.

Edit2. After speaking with Wim, he has added max DD expectations to description, which I think will help with expectations of what this ea will do. The order in question in my review did close in profit, however I still advise low risk with this ea.

Profalgo Limited
65835
Reply from developer Wim Schrynemakers 2022.04.08 16:21
Added clear expected max drawdowns to each risk setting in the product description.
Pictures shown are from 2020. Max DD was higher for the last 6 years indeed.
I always would advise to start with low risk (any EA), and if you like what you see, you can increase risk.
Andre Gomes
2771
Andre Gomes 2022.04.03 11:44 
 

Very promising. Totally recommend it!!

ErwinHerry
181
ErwinHerry 2022.03.31 08:33 
 

The best EA creator, always updates every time a problem occurs. keep it up bro........

Lou Jun Li
325
Lou Jun Li 2022.03.31 07:50 
 

The author's products are very good, give support

Zhengyan Jia
498
Zhengyan Jia 2022.03.31 07:17 
 

5 Stars for Wim!

Will update in a few days

Reply to review
Version 2.2 2023.06.07
fixed problem with repeating messages

RECOMMENDED UPDATE!!
Version 2.1 2023.04.19
fix bug in date calculation
Version 2.0 2023.04.18
fixed bug in news filter
Version 1.9 2023.03.27
highly recommended update.
The newsfilter was not working anymore because the news website used, was blocking all MQL5 EA's.
I implemented a new news source for the news filter, so you must add this URL to the MT4's allowed URL"s: https://nfs.faireconomy.media/
Version 1.8 2023.03.13
- fixed issue with trading on Sunday
Version 1.7 2022.11.01
Version 1.7
- Added option to set minimum seconds between recovery trades (market orders), to prevent overload trades during bad pricefeed
Version 1.6 2022.06.09
Version 1.6
- Added extra check to prevent duplicate trades
Version 1.5 2022.05.19
- fixed issue when changing trading hours and disabling monday morning trading
Version 1.4 2022.04.28
Version 1.4
- Fixed the AUDCHF problem of opening on monday morning
- Fixed trades opening and closing within a second when big slippage happens
Version 1.3 2022.04.24
Version 1.3
- improved USDCAD risk/reward
- improved EURGBP risk/reward
- improved CADCHF risk/reward
- improved EURJPY risk/reward
- improved AUDCHF risk/reward
Version 1.2 2022.04.13
Version 1.2
- improved EURCAD risk/reward
- improved AUDUSD risk/reward
- improved GBPJPY risk/reward
- improved GBPUSD risk/reward
- improved EURAUD risk/reward -> more grid losses will occur, but they will be much faster recovered and overal profit will be more.
- improved AUDJPY risk/reward
- added option to prevent first trade having multiple small losses in a row
- added correlation filter
Version 1.1 2022.04.03
Version 1.1
- added option to add commission cost to calculation of recovery trade exit
- added option to switch buy/sell on or off
- added option to turn on/off trading on market opening sunday night/monday morning