Critically analyzing the behavior of this EA in real-time and reflecting on the feedback I received, I have made some optimizations to this EA.
I have also obtained 100%-quality backtesting tick data over the last five years. The MQL5 back tester is now searching for the best parameters for this improved version.
Check for an update these few days. You should soon be able to start earning using a more effective EA.
After I released version 2.0 yesterday, I corrected several bugs and republished the EA. Make sure you are using the latest EA.
The latest version uses a stricter threshold for opening a trade, reducing the risk. Consequently, I have increased the lot size from 0.6 to 0.8 per $1000. Now, you may not see a trade being opened throughout the session when the index fluctuates within a narrow range.
Some of you expressed concerns about over-trading using the default risk multiplier 1.0, which yielded a 50% maximal drawdown over several years in the past. Please understand that it is not easy to accommodate all users. Simply adjust it to a comfortable level according to your risk appetite and capital.
Although this version shows a reduced average monthly growth rate than the previous versions during backtesting, it should be a more reliable EA as it uses fewer parameters, thus potentially avoiding the problem of overfitting.
As the market changes, I will update the EA every three months, starting from 1st Apr 2025.
Be sure to check it out!
Critically analyzing the behavior of this EA in real-time and reflecting on the feedback I received, I have made some optimizations to this EA.
I have also obtained 100%-quality backtesting tick data over the last five years. The MQL5 back tester is now searching for the best parameters for this improved version.
Check for an update these few days. You should soon be able to start earning using a more effective EA.
Version 2.0 is out!
I tried implementing a breakout strategy, but that failed to improve profitability.
Anyway, I have incorporated a few enhancements, as outlined in the 'What's new' section.
The new EA trades within a shorter time frame and extended SL & TP.
After I released version 2.0 yesterday, I corrected several bugs and republished the EA. Make sure you are using the latest EA.
The latest version uses a stricter threshold for opening a trade, reducing the risk. Consequently, I have increased the lot size from 0.6 to 0.8 per $1000. Now, you may not see a trade being opened throughout the session when the index fluctuates within a narrow range.
Some of you expressed concerns about over-trading using the default risk multiplier 1.0, which yielded a 50% maximal drawdown over several years in the past. Please understand that it is not easy to accommodate all users. Simply adjust it to a comfortable level according to your risk appetite and capital.
Sadly, the first trade that opened after the update ended in a loss of around -6% ...
Don't despair. Losing is part of the game for this EA, which has a winning rate of only 51% ...
I look forward to strongly trending sessions ahead.
To help reduce the effect of overfitting during backtesting, I will remove the SL & TP and make the EA close trades dynamically.
Check out for an update over the weekend.
Version 3.0 is out!
Although this version shows a reduced average monthly growth rate than the previous versions during backtesting, it should be a more reliable EA as it uses fewer parameters, thus potentially avoiding the problem of overfitting.
Version 4.0 is out!
The EA now considers an additional trade before the German session, doubling the original compound monthly growth rate.
Note that this added trade is opened during a quiet market, so the lot size is 2.5 times bigger than that opened after the start of the German market.
This new EA has stricter entry requirements and trades less often than the previous versions.
German Snowball 4 made 50% in one day!
German Snowball 4 made 50% in one day!