Mighty Makers EA - power of Murray levels in the pursuit of profits
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, best conditions here ➔ ProCent)
- 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:
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:
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 
Gold M30 2015-2023 Stage=0 AutoLot 
Gold M30 2015-2023 Stage=1 AutoLot 
Gold M30 2015-2023 Stage=2 AutoLot 
Gold M30 2015-2023 Stage=3 AutoLot 
Gold M30 2015-2023 Stage=4 AutoLot 
Gold M30 2015-2023 Stage=5 AutoLot 
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).
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
