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Gyroscopes is an MT5 expert advisor that uses Elliott wave analysis to trade trends on major forex pairs, mainly on the H1 timeframe. It supports fixed or balance-based lot sizing and real or virtual stops.
Get one message the moment it launches, with its price.
Gyroscopes is a fully automated expert advisor for MetaTrader 5. It reads price swings through the framework of Elliott wave theory and aims to trade in the direction of the prevailing trend on H1 charts of major forex pairs.
Elliott wave theory describes market movement as a repeating pattern. A full cycle has eight waves: five waves that make up the directional phase, labelled 1 to 5, and three corrective waves, labelled A, B and C. Waves 1, 3 and 5 push in the trend direction, while waves 2 and 4 pull back against it.
The theory also sets some rules for a valid five-wave structure:
The expert uses this kind of wave analysis to decide when to open positions, then manages them with its own trade-control logic. It runs without manual input once attached to a chart. The exact entry conditions are not published in detail, so judge its behaviour by testing it, not by assuming how it reads each wave.
The expert is intended for forex pairs such as EURUSD, GBPUSD, USDJPY, AUDUSD and USDCHF, with crosses such as EURGBP, EURJPY, AUDJPY and CADJPY also mentioned by the author. The working timeframe is H1. Because it relies on a spread limit, it suits accounts with tight and stable spreads. Check that your broker uses standard symbol names, or that you know its suffix.
The inputs cover lot size, stops and trade filtering. Check default values in the expert after loading it, as they may differ between brokers and account sizes.
| Parameter | Purpose |
|---|---|
| Fix Lot | Fixed trade volume |
| Money management on and value | Calculates the lot from the account balance |
| Lot Decimal | Rounding of the calculated lot |
| Real stop loss and take profit | Levels placed with the order on the server |
| Virtual stop loss and take profit | Levels held and executed by the expert |
| Magic Number | Identifies this expert's trades |
| Maximum permissible spread | Blocks new trades when the spread is too wide |
Use a fixed lot if you want predictable sizing while testing. Use the money management option only after you understand how it scales volume as the balance changes. Small test accounts should use small volumes.
Wave counting is subjective, and a trend-following method can suffer in ranging or fast news-driven markets. The author refers to a sizeable recommended deposit and to a drawdown level that can be significant, so check the current figures on the product page and size positions conservatively.
Trading carries risk, and you can lose some or all of your capital. Past results do not predict future ones. Test on a demo account first and never trade money you cannot afford to lose.
Run it on a VPS if you want it to stay online, especially when using virtual stops.
| Product type | Expert Advisor |
|---|---|
| Platform | MetaTrader 5 (expert advisor) |
| Strategy focus | Trend |
| Delivery | Download from your account after purchase |
| License key | Not needed |
| Status | Launching soon |
| Category | Expert advisor, fully automated |
| Strategy | Trend trading using Elliott wave structure |
| Markets | Forex majors and crosses such as EURUSD, GBPUSD, USDJPY, AUDUSD, USDCHF |
| Timeframe | H1 |
| Money management | Fixed lot or lot calculated from the deposit |
| Stops | Real and virtual stop loss and take profit |
| Requirements | Algo trading enabled, stable connection, low-spread account |
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No. This product is an MT5 expert advisor and will not run on MT4. You need a MetaTrader 5 terminal and an account that allows automated trading.
The expert is designed for forex pairs such as EURUSD, GBPUSD, USDJPY, AUDUSD and USDCHF, and its working timeframe is H1. Attach it to an H1 chart of each symbol you want to trade, and confirm your broker uses the same symbol names or adjust for suffixes.
The author points to a fairly large deposit, so treat small accounts with caution. Check the current product page on MQL5 for the recommended balance, and test lot sizes on a demo account first. Trading carries risk and you can lose money.
Real stop loss and take profit levels are sent to the broker with the order. Virtual levels are held by the expert and the position is closed by the program when price reaches them. Virtual levels depend on the terminal staying online.
Copy the downloaded expert file into the MQL5/Experts folder through File, Open Data Folder in MetaTrader 5, then restart the terminal or refresh the Navigator. Drag the expert onto an H1 chart and make sure Algo Trading is switched on.
No. No automated system can promise results. Test it on a demo account first, and remember that past results do not predict future ones.
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