FXProSystems
Back

Mighty Makers EA - power of Murray levels in the pursuit of profits

Published: 20.10.2023
Reading time: 24 minutes
41
6868
mighty-makers-ea

Mighty Makers EA is a profitable and reliable robot for MT4, based on Murray levels combined with high-speed neural network analysis. The EA has a built-in news filter and does not use dangerous money management methods (no grid, no martingale, no arbitrage). It has the ability to limit the maximum drawdown and manage the trading lot.

Сharacteristics of the Mighty Makers EA

  • Official website: mql5.com
  • Platform: Metatrader4
  • EA version: 1.3
  • Currency pairs: Gold (XAUUSD)
  • Trading Time: Around the clock
  • Timeframe: M30
  • Minimum deposit: $500 (or 500 USD cents)
  • Recommended broker: Roboforex, XM, FBS

Trading algorithm

All traders know that price levels play an important role in forex chart analysis and are a powerful tool for predicting future price movements.  There are many profitable systems based only on levels.

Levels can be:

  • horizontal (support and resistance, round numbers)
  • vertical (time levels, boundaries of trading sessions or the time of release of important economic news)
  • diagonal levels - dynamic levels (trend lines, channels, etc.)

There are also conflict circles or contradiction circles, built on points where the above levels can intersect and thus contradict each other and be misinterpreted:

mighty-markets-ea-levels

Warning! Поэтому, вам следует добавить эти веб адреса в список разрешенных веб-запросов:

All this data formed the basis of the Murray system, which in turn is used by the Mighty Makers Expert Advisor to determine entry points. In addition, the author claims that a neural network is integrated into the algorithm of the Expert Advisor, which allegedly processes a large amount of both historical and current data for even greater accuracy of signals. I have very strong doubts about this, if the author will forgive me.

Simply put, the Expert Advisor trades on the breakout and rebound from the levels built by the Murray system, which gives much greater accuracy than trading only from one of the levels (horizontal, vertical or diagonal).

Additionally, a news filter is implemented in the Expert Advisor, as you know that important economic news can put a cross on all graphical analysis and lead to unwanted losses.

Warning! Therefore, you should add these web addresses to the list of allowed web requests:

https://www.worldtimeserver.com

https://ec.forexprostools.com

Path Metatrader4>Tools>Options>Expert Advisors:

mighty-markets-allow-webrequest

Here is a short video review of Mighty Makers EA:

Back Tests

The main parameter affecting the trading performance of the Expert Advisor is "STAGE" and the type of applied lot (AutoLot or FixLot), so testing was performed only with changing these parameters. The Expert Advisor is recommended for trading on XAUUSD and BTCUSD, but since there is not enough historical data on bitcoin to fully analyze the trading performance, the testing was performed only on the XAUUSD (GOLD) pair. Let's take a look at the results:

Gold M30 2015-2023 Stage=4 FixLot backtest-mighty-markets-ea-stage-4-fixlot

Gold M30 2015-2023 Stage=0 AutoLot backtest-mighty-markets-ea-stage-0

Gold M30 2015-2023 Stage=1 AutoLot backtest-mighty-markets-ea-stage-1

Gold M30 2015-2023 Stage=2 AutoLot backtest-mighty-markets-ea-stage-2

Gold M30 2015-2023 Stage=3 AutoLot backtest-mighty-markets-ea-stage-3

Gold M30 2015-2023 Stage=4 AutoLot backtest-mighty-markets-ea-stage-4

Gold M30 2015-2023 Stage=5 AutoLot backtest-mighty-markets-ea-stage-5

Note that the quality of historical data modeling is 99.9% thanks to TDS 2

As you can see, despite the large StopLoss, which is 10 times higher than TakeProfit, the drawdown of the EA rarely exceeds 5% (except for FixLot and Stage=5), which is a very good result.

Input parameters of the Mighty Makers EA v.1.3

The Mighty Makers MT4 EA has six degrees of capital management - STAGE parameter from 0 to 5, fixed and automatic lot (AutoLotSize=true/false), StopLoss and TakeProfit (Orders) control parameters, etc. In addition, the Expert Advisor has the ability to limit the maximum drawdown (Use max. Drawdown), which in itself is a reliable solution to insure your balance. Additionally, the Expert Advisor has the ability to limit the maximum drawdown (Use max. Drawdown), which in itself is a reliable solution to insure your balance. There is also a parameter that will limit the opening of trades when the specified maximum spread is reached (Use max. Spread).

View EA settings

mighty-markets-ea-inputs

All the input parameters of the Expert Advisor are intuitively clear, so I don't see the point in focusing on them in detail.

In conclusion

Of course, the technical description and backtests of the EA look promising, but the large StopLoss = 400 on the background of a relatively small TakeProfit contradict the author's assertions that Minimal/Recommended Deposit should be equal to $100. Besides, the absence of any long-term monitoring of a real trading account managed by Mighty Makers EA is also alarming. In general, you should take a closer look at this EA on demo at least for a couple of months before installing it on real. The news filter makes it much easier to control trading with this EA, but it is not completely clear how adequate it is - you need to check it in real trading mode on demo ONLY.

For uninterrupted work, use a trasted VPS.

In the archive Mighty_Makers_EA.rar (359.4 KB):

  • Mighty Makers EA MT4.ex4

Free Download Mighty Makers EA

Mirror

Author:
Daniel
Share
Related Post
Comments:
  • Lee
    Published: 21.10.2023 Reply to the message

    2023.10.22 00:40:40.289 TestGenerator: write file error

    • Daniel
      Published: 22.10.2023 Reply to the message

      Then you're doing something wrong. I don't have that error *PARDON*

  • chris
    Published: 22.10.2023 Reply to the message

    youre the best Daniel.

    • Daniel
      Published: 22.10.2023 Reply to the message

      Thanks :-[

  • joao henrique
    Published: 23.10.2023 Reply to the message

    Mighty Makers EA...no trades...doesn't working

    • Daniel
      Published: 23.10.2023 Reply to the message

      Don't write nonsense. EA works! If you have not so, then not correctly installed or configured.

  • wayler
    Published: 24.10.2023 Reply to the message

    Hello, why is there a message on the screen about a problem with the news filter?

    • Daniel
      Published: 24.10.2023 Reply to the message

      Because you don’t read the article, especially the paragraphs in red *PARDON*

      Warning

      • Andreansyah
        Published: 26.02.2024 Reply to the message

        :-D :-D :-D :-D

  • Haseeb SH
    Published: 31.10.2023 Reply to the message

    Daniel, Bro how are you doing ? If the parameter is true for EA not to trade the whole day on NEWS Event, It means it will not open the trade full day. But i have a question, the USD news is alomost everyday. So when will the ea trade ? Because in the backtest it opens the trade everyday. Could you explain a little. Thanks alot Brother. *IN LOVE*

    • Daniel
      Published: 01.11.2023 Reply to the message

      You can change this in the EA settings. You can select [No Trade whole Day] or [No Trade befor&after (h)] and below set the number of hours during which the EA will not open trades:

      Settings of News Filter

  • Thong
    Published: 06.11.2023 Reply to the message

    Mighty Makers EA MT4 XAUUSDm,M30: array out of range in 'Mighty_Makers_EA_MT4.mq4' (186,53)
    Can you please explain to me what the error is?

    • Daniel
      Published: 06.11.2023 Reply to the message

      You need to add the suffix "m" in the EA settings as shown below:

      Add suffix

      • Thong
        Published: 06.11.2023 Reply to the message

        Thank you very much

  • Thong
    Published: 08.11.2023 Reply to the message

    Is anyone running and has any orders? It's been suspended for a week without any orders

  • RIbazuz
    Published: 14.11.2023 Reply to the message

    on the graph there is a circle and an inscription in red. it says shutdown. Before that, it was fine. ???

  • RIbazuz
    Published: 14.11.2023 Reply to the message

    Found the reason. The reason is the shutdown in the Metatrader 4>Tools>Options>Expert Advisors

  • Mike
    Published: 15.11.2023 Reply to the message

    Not working on XM with "GOLD"

    • Daniel
      Published: 15.11.2023 Reply to the message

      On what basis did you draw that conclusion? If the robot has not opened a single trade yet, it does not mean that it does not work. It trades very rarely. Wait and do not mislead other traders!

  • phuong
    Published: 17.11.2023 Reply to the message

    I can't dowload file. please, you can share file . thank you

  • Frosty
    Published: 18.11.2023 Reply to the message

    Thankyou for your work daniel.can you provide set file for the ea. Thankyou

  • Duck
    Published: 21.11.2023 Reply to the message

    Hi do you have source code this EA

  • Tayfun Yalçın
    Published: 28.11.2023 Reply to the message

    Hello. I installed the robot on a real account, but it has been 2 weeks and no transactions have been opened. What am I doing wrong?

  • ali
    Published: 30.11.2023 Reply to the message

    thank danial... work well on back test... result is amazing....

  • Juri.
    Published: 01.12.2023 Reply to the message

    It looks like this EA based on history. :(

    • Leon
      Published: 20.12.2023 Reply to the message

      Have you tested it or you are just jumping to a foolish conclusion?

  • Leon
    Published: 20.12.2023 Reply to the message

    This EA looks promising so far, i'm running it on a Demo and so far so good, i can see comments like "looks like this EA is based on history" blah blah blah before one comments without proof and thinking like an adult you will be mislead by many, just try it on your own guys and not base on comments of mere haters.

  • RIbazuz
    Published: 29.12.2023 Reply to the message

    The advisor works well on gold. But not on Bitcoin. There is no circle and no slanted lines on the graph. Set the properties to Bitcoin - true. What is the reason?

  • denis
    Published: 08.01.2024 Reply to the message

    He writes constantly shutdown. this is normal ?

  • Joames
    Published: 08.01.2024 Reply to the message

    on the graph there is a circle and an inscription in red. it says shutdown. Before that, it was fine. ??? I have all in Expert options well

  • BomBBiS
    Published: 10.01.2024 Reply to the message

    Since 2024, there has been a shutdown message and no more orders will be issued. Previously, it worked very well. Can I come back and look at the problem please?

    • Daniel
      Published: 10.01.2024 Reply to the message

      I'm working on it. It takes time.

  • RIbazuz
    Published: 11.01.2024 Reply to the message

    doesn't work. What happened?

  • Max
    Published: 16.01.2024 Reply to the message

    Hi Daniel, on myfxbook same-named systems are never profitable. Maybe they have nothing to do with this, but I just don't trust a system that never fails. Too good to be true. I will try it on Demo for a while. Thank you for your valuable contribution.

  • joames
    Published: 18.01.2024 Reply to the message

    EA stopped working, shows SHUTDOWN, journal message “2024.01.04 19:24:21.458 LiveUpdate: old version, try to download new one”

  • Gyula
    Published: 22.01.2024 Reply to the message

    Hi Daniel,

    It shows "shutdown" for me too.

    Best regards

  • Vijay
    Published: 28.01.2024 Reply to the message

    How to buy waka waka

  • Luis Humberto Collavino
    Published: 11.02.2024 Reply to the message

    ME SALE ERROR EN ROJO "SHUTDOWN - NO MARGIN FOR SYMBOL XAUUSD"

  • Muhammad Tariq
    Published: 31.03.2024 Reply to the message

    Any solution for shut down

  • Giljoe
    Published: 06.04.2024 Reply to the message

    Hi Daniel, help me pleas this dont make any trade on tester tahnks
    2024.04.06 23:57:02.222 2024.02.29 23:54:55 Mighty Makers EA MT4 OnTester returns 0.00000000000000

Name
Please enter your last name and first name
E-mail
No spam, we promise
Message text
By submitting this form, you agree to the political confidentiality and rules of our site.