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TopWaveBot is an MT5 expert advisor that looks for trend reversals using two moving averages and only enters when volatility is elevated. Take profit and stop loss are set in the inputs per symbol.
Get one message the moment it launches, with its price.
TopWaveBot is an automated expert advisor for MetaTrader 5. It watches for a change in trend direction, then waits for a burst of volatility before it opens a trade. The aim is to avoid entering during quiet, directionless conditions.
The EA compares a short and a long moving average to judge the prevailing trend and to spot when it turns. A turn alone is not enough to trade. The robot also measures volatility, using a standard deviation input, and only allows an entry when the market is moving more than usual.
Exits are not fixed across all instruments. Take profit and stop loss are entered as inputs, so each symbol can have distances that suit its typical range. The suggested values place the take profit further away than the stop loss, though this does not make any single trade more likely to win.
The default configuration is prepared for EURUSD on the five-minute chart. The author also suggests these pairs on M5:
You can try other symbols, but the volatility threshold and the distances would have to be re-tested because pip ranges differ between instruments.
The main inputs are listed below. The values are starting points suggested by the author for M5 charts, not recommendations for your account. Confirm them in the Strategy Tester and on a demo account, using your own broker's data.
| Symbol | stdDevN | takeProfit | stopLoss | riskLotPerCentage | riskMaxPosition |
|---|---|---|---|---|---|
| EURUSD | 0.0016 | 325 | 250 | 4 | 4 |
| GBPUSD | 0.0024 | 750 | 275 | 5 | 4 |
| USDCAD | 0.0025 | 200 | 175 | 6 | 4 |
| EURCAD | 0.0031 | 570 | 280 | 4 | 4 |
Higher risk percentages and more open positions increase potential drawdown. Choose values you can tolerate, and check your broker's spread, commission and minimum lot size because they affect results on a short timeframe like M5.
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.
A VPS can help keep the EA running continuously, which matters for a strategy that watches the market on a five-minute chart.
| 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 | Automated trading, trend-based |
| Suggested markets | EURUSD, GBPUSD, USDCAD, EURCAD |
| Suggested timeframe | M5 |
| Trade style | Trend reversal entries with a volatility filter |
| Key inputs | stdDevN, takeProfit, stopLoss, riskLotPerCentage, riskMaxPosition |
| Requirements | MT5 terminal with algo trading enabled; a VPS is optional |
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No. It is built for MetaTrader 5 only. Check that your broker offers an MT5 account before buying.
The default inputs target EURUSD on the M5 chart. The author also suggests GBPUSD, USDCAD and EURCAD on M5. Other symbols may work, but the volatility and distance inputs would need to be tested and adjusted first.
Copy the expert advisor file into the MQL5/Experts folder via File > Open Data Folder in MT5, then restart the terminal or refresh the Navigator. Drag it onto a chart and enable algo trading in the terminal and in the EA properties.
The defaults suit EURUSD M5. For other pairs, start from the suggested values listed on this page and test them in the Strategy Tester and on a demo account. Spreads, commissions and broker conditions differ, so values may need adjusting.
No. Trading carries risk, you can lose money, and past results do not predict future ones. Test on a demo account before using real funds.
Any MT5 broker that allows expert advisors should work. Check spread, execution speed, minimum lot size and the minimum deposit your broker requires, since these affect how the risk inputs behave.
TopWaveBot
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