Waka Waka EA

EA has a live track record with 4.5 years of stable trading with low drawdown:

Live performance

MT5 version can be found here

Waka Waka is the advanced grid system which already works on real accounts for years. Instead of fitting the system to reflect historical data (like most people do) it was designed to exploit existing market inefficiencies. Therefore it is not a simple “hit and miss” system which only survives by using grid. Instead it uses real market mechanics to its advantage to make profit

Supported currency pairs: AUDCAD, AUDNZD, NZDCAD

Recommended timeframe: M15

Features:

• One Chart Setup: you only need one chart to trade all symbols
• Multiple currency pairs support
• Solid backtest and live performance
• No need to adjust GMT
• Very easy to use: just read 3 lines of instructions below
• Much cheaper than available high-quality alternatives

How to install

• The EA must be attached to ONLY one M15 chart, AUDCAD is recommended
• If your broker uses a suffix (e.g. AUDCAD.a) you should update names in the Symbol parameter
  
• Use recommended pairs only. You don’t need .set files, all settings are stored internally in the EA
• You need to give the EA access to the news list website and time server for news filter and time detection functionality to work correctly. Here is the link for the guide on how to do that (from 1:00 to 2:05)

Requirements

• The EA is NOT sensitive to spread and slippage. But I advise using a good ECN broker
• The EA should run on a VPS continuously
• With only 1:30 leverage I advise not to use higher than low risk settings on a less than $6000 account, otherwise you might have problems with free margin. With 1:100 leverage it should be fine with up to significant risk setting on a $1000 account

MM & Risk settings

• Allow Opening a new Grid – on/off opening of new grids. It does not affect the already open grids
• Lot-sizing Method – select the lot sizing method according to the risk you want to take: Fixed Lots will use fixed lot size from the “Fixed lot” parameter, Dynamic Lots will use ‘Dynamic Lot’ parameter, Deposit load will calculate lots based on deposit load%, and 4 predefined presets will calculate risk automatically for you
• Fixed Lot – fixed trading lot for the initial trade.
• Dynamic Lot (Balance/Equity based) – balance/equity to be used per 0.01 lot
• Deposit Load % – % of the deposit that will be totally used to open the initial trade
• Maximum Lot – max allowed trading lot
• Maximum Spread, in pips – maximal allowed spread
• Maximum Slippage for a non-ECN acc, in pips – max allowed slippage
• Maximum Symbols at a time – max allowed number of symbols that can be opened at the same time
• Allow Hedging – allow opening multi-directional trades on the same symbol
• Allow Trading on Holidays – on/off Christmas/New Year trading filter
• Allow to Buy/Sell – on/off Buy/Sell trades
• Maximum Drawdown Percent – if current floating drawdown exceeds the specified % the EA will close open positions

Strategy

• Symbols – symbols separated by comma (custom if empty)
• Bollinger Bands Period – period of BB used to calculate the upper/lower levels
• RSI Period – period of RSI used to filtering out trades with small potential.
• Maximum RSI Value – value for the RSI filter
• TakeProfit for Initial Trade, in pips – take profit for the initial trade (if no grid trades opened)
• TakeProfit for Grid, in pips (weighted if zero) – take-profit for the grid. If zero, then TP is weighted, i.e. it is equal to TP of the initial order in money (not in pips!)
• StopLoss for Grid, in pips (1000 pips if zero) – stop-loss for the initial/grid trades
• Hide StopLoss – on/off stop-loss hiding

Grid settings

• Trade Distance – min. step in pips between grid(averaging) trades
• Smart Distance – auto- adjusts the trade distance depending on market volatility
• 2nd Trade Multiplier – multiplier for the 2nd trade
• 3rd-5th Trade Multiplier – multiplier for the 3rd-5th trades
• 6th- Trade Multiplier – multiplier for the 6th-…. trades
• Maximum Trades – max number of grid(averaging) trades

Others

• Trade Comment – comment for orders
• UID (0…9) – unique EA instance number. Usually no need to change it
• ShowPanel – on/off Info-panel