Marvelous EA is an automated trading software designed for the foreign exchange (Forex) market. It uses a trading strategy based on the Rate of Change (ROC) indicator, which helps identify market trends. This EA tries to offer traders a user-friendly trading experience.
Marvelous EA Strategy
The strategy employed by Marvelous EA involves a combination of two key elements: the martingale method and the ROC indicator.
The martingale method is a trading strategy used by Marvelous EA to help recover drawdowns. In essence, the strategy tries to doubling the lot size of a trade after a drawdown, by trying recouping the drawdown in the next trade.
In the context of Marvelous EA, the martingale method is used in conjunction with the ROC indicator to identify market trends and make trades based on these trends. When the ROC indicator signals a trend, the EA will place a trade with a certain lot size. If the trade results in a drawdown, the EA will increase the lot size for the next trade by a predetermined factor, such as 2 or 3. This means that if the first trade was with a lot size of 0.01, the next trade would be with a lot size of 0.02 or 0.03, depending on the predetermined factor.
The ROC (Rate of Change) indicator is a component of the trading strategy used by Marvelous EA. The ROC indicator is a momentum oscillator that measures the rate at which the price of an asset is changing. It calculates the percentage change in price over a specified period of time.
In the context of Marvelous EA, the ROC indicator is used to identify potential market trends and make trades based on these trends. When the ROC indicator signals a potential trend, the EA will place a trade with a certain lot size. The ROC indicator can be used with various time frames, such as 5 minutes or 15 minutes, depending on the desired trading strategy.
Marvelous EA Features
- Works best on currency pairs such as EURUSD, GBPUSD, NZDUSD, AUDUSD, AUDJPY, and USDCHF, but can be used on any currency pair, according to the developer.
- Can also be used for trading Gold (XAUUSD) and comes with set files for that.
- It is important to monitor market volatility (such as news events) and manually close trades when necessary.
- Works aggressively on M5 and H1 timeframes, but can be used on any timeframe.
- Requires a minimum account balance of $100, according to the developer.
Marvelous EA Settings
- EA_Name Marvelous
- Use_Hour Start End Hour
- StartTrade 0
- EndTrade 23
- Use_DbLots If=1-> Multiplier Lot, If=2-> Fixed Lot
- DbLots 1
- Lots 0.01
- SL 100.0
- TP 4.0
- Distance 5.0
- Multiplier 1.3
- MaxLevel 8
- Lots Decimal 2.0
- MagicNumber 163991
- Gi_324 Yellow
- Gi_328 Red
- Gi_332 Lime
Marvelous EA Summary
Overall, the Marvelous EA is based on the strategy which comes up with ROC indicator and the martingale method. The ROC indicator is used to identify potential market trends and make trades based on these trends, while the martingale method is used to recover from drawdowns.
However, it is important to note that there is no guarantee of profits and traders should use caution when trading with Marvelous EA. It is recommended to test the software on a demo account before using it on a live account.
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.