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Spike Catcher is an MT5 expert advisor built for CADJPY on the M30 chart. It trades price channels, screens entries with a MACD filter and manages open trades with a trailing stop, with adjustable risk inputs.
Get one message the moment it launches, with its price.
Spike Catcher is an expert advisor for MetaTrader 5 that trades around price channels, uses a MACD filter to screen signals and manages open positions with a trailing stop. It is set up for CADJPY on the M30 chart and runs automatically once it is attached.
The expert advisor measures price movement inside a defined channel and looks for entries near the edges of that range. Depending on how price behaves at the boundary, it can act on a bounce back into the channel or on a move that continues out of it, which is why it is tagged with trend, momentum and breakout styles.
A MACD condition is applied before a trade is opened. Its purpose is to reduce entries on weak moves and false breakouts. A filter like this lowers the number of signals but cannot remove losing trades.
Once a trade is in profit, a trailing stop follows price so that part of the gain is protected if the move reverses. The aim is to let trending moves run while limiting how much is given back.
The risk inputs can be changed to suit your account size and tolerance. Exact input names and defaults can differ, so open the Inputs tab in MT5 and review each field before trading live.
| Area | What to check |
|---|---|
| Position size | Lot size or risk per trade, matched to your balance |
| Stop and trailing | Stop distance and trailing behaviour |
| Filter | MACD parameters, if exposed as inputs |
| Broker conditions | Spread, commission, execution and server time |
Trading carries risk, and you can lose some or all of your capital. Past results, including backtests, do not predict future ones. Test on a demo account first and only trade amounts you can afford to lose.
Backtests depend heavily on data quality, spread and slippage assumptions. If you use the expert advisor on a funded or challenge account, check the firm's rules on automated trading, daily loss and total drawdown.
For continuous operation, many traders use a VPS so the terminal stays online and connected.
| Product type | Expert Advisor |
|---|---|
| Platform | MetaTrader 5 (not for MT4) |
| Strategy focus | Trend, Momentum, Breakout |
| Delivery | Download from your account after purchase |
| License key | Not needed |
| Status | Launching soon |
| Category | Expert advisor (automated trading) |
| Intended symbol | CADJPY |
| Intended timeframe | M30 |
| Trade style | Channel-based trend and breakout logic with MACD filter |
| Trade management | Trailing stop, adjustable risk settings |
| Chart usage | One chart only, to avoid overlapping trades |
| Requirements | MT5 terminal, Algo Trading enabled, stable connection or VPS |
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No. This product is an MT5 expert advisor and will not load in MetaTrader 4. You need a MetaTrader 5 terminal and an account that supports it.
The developer designed it for CADJPY on the M30 chart. You can test other symbols in the Strategy Tester, but the logic was not tuned for them, so check results carefully before using any other market.
It should be attached to one chart only. Running more than one copy can cause overlapping or duplicate trades on the same account.
The expert advisor has adjustable risk settings, so it can be set to fit tighter limits. Rules differ between firms, so read your firm's conditions on automated trading and drawdown before you start, and test on a demo first.
Extract the download, copy the .ex5 file into the MQL5/Experts folder via File, Open Data Folder, then restart MT5 or refresh the Navigator. Drag it onto a CADJPY M30 chart and allow Algo Trading.
Start with the default inputs on a demo account and review the input list in the terminal. Set lot size or risk per trade to a level you can afford to lose, and confirm that your broker's spreads and execution suit an M30 strategy.
Spike Catcher MT5
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