Mega Trader EA

The Mega Trader EA is a trading software designed for use on the popular MetaTrader 4 platform. It employs a mixed approach to trading that combines grid, hedging, and candlestick pattern analysis to identify trading opportunities in the forex market.

In this review, we will take an in-depth look at the features, strengths, and weaknesses of the Mega Trader EA. By the end of this review, readers will be equipped with the necessary knowledge to make an informed decision about whether to use the Mega Trader EA for their trading activities.

Mega Trader EA Strategy

The Mega Trader EA is a forex trading robot that was designed for use on the MetaTrader 4 trading platform. The EA’s strategy involves a mixed approach that combines Grid Trading, Hedging, and Candlestick Pattern analysis.

Mega Trader EA
Mega Trader EA

The Grid trading strategy involves placing multiple buy and sell orders at different price levels, with the hope of capitalizing on small price movements in the market. The Hedging strategy involves placing trades in the opposite direction to an existing trade to reduce potential losses. Finally, Candlestick Pattern analysis involves studying price action patterns on a chart to predict market movements.

The Mega Trader EA has default settings for trading the EURUSD pair on the H1 timeframe. However, the EA can be used on any currency pair and on all timeframes.


To minimize risk, the EA uses a trailing stop strategy that aims to lock in returns if the market should move in favor of the trade. The trailing stop is adjusted upwards to increase the lock as the market moves, and each trade is protected by a stop-loss order to limit potential losses.

One strength of the Mega Trader EA is its mixed approach to trading, which enables it to adapt to different market conditions. Additionally, the use of stop-loss orders and trailing stops is intended by the developer to protect the trader’s capital and minimize risk.

One weakness of the EA is that it can be challenging to configure correctly, and improper settings can lead to significant losses. Additionally, the mixed trading approach may result in conflicting signals, leading to trading errors.

Before using the EA on a live account, it is recommended to test it thoroughly on a demo account to familiarize oneself with its trading style and settings. It is also essential to have proper risk management in place when using any trading robot, including the Mega Trader EA. This includes setting appropriate lot sizes, using stop-loss orders, and monitoring the EA’s performance regularly.

Mega Trader EA Features

  • The Mega Trader EA is designed for use on the MetaTrader 4 trading platform.
  • The EA employs a mixed trading approach that combines Grid, Hedging, and Candlestick Pattern analysis.
  • Default settings are available for trading the EURUSD pair on the H1 timeframe, but the EA can be used on any currency pair and timeframe.
  • Trailing stop strategy is used to lock in returns and minimize risk if the market should move in favor of the trade.
  • Stop-loss orders are employed to limit potential losses on each trade.
  • The EA does not use the martingale strategy.
  • The mixed trading approach enables the EA to adapt to different market conditions.
  • The EA can be challenging to configure, and improper settings can lead to significant losses.

Mega Trader EA Settings

  • Auto lots: Automatically sets the lot size based on the account balance and risk.
  • MM 2% = True: Money management that limits the risk per trade to 2% of the account balance.
  • Trade Exit management: Set the exit strategies, stop-loss, and take-profit levels.
  • Fixed lots size: Uses a fixed lot size for all trades.
  • If Risk = Fixed_Lot: Risk management that calculates the lot size based on a fixed risk amount.
  • Comment long: Adds a long comment to the trade for record-keeping purposes.
  • Comment short: Adds a short comment to the trade for record-keeping purposes.
  • TP Multiplier: Sets the take-profit level as a multiple of the stop-loss level.
  • SL Multiplier: Sets the stop-loss level as a multiple of the entry price.
  • Start pips Trailing: Activates the trailing stop feature when the trade is in profit by the specified number of pips.
  • Step pips Trailing: Sets the increment by which the trailing stop moves as the trade continues in profit.
  • Use Stop Trailing: Uses a stop-loss order to limit potential losses when using the trailing stop feature.
  • Added trailing for Recovery Mode: Activates an additional trailing stop feature when the EA is in recovery mode after a series of losses.

Mega Trader EA Summary

The Mega Trader EA is a forex trading software that combines grid, hedging, and candlestick pattern analysis for auto trading on MetaTrader 4. Its strengths include its trailing stop strategy for locking in profits and minimizing risk, and every trade is protected by stop-loss orders. Its weaknesses include the fact that it can be challenging to configure correctly, and occasional drawdowns. It’s suitable for intermediate to advanced traders who have experience with risk management and understand the limitations of trading software. Demo testing and applying risk management settings is crucial and should be implemented properly.


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