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Waka Waka EA is a grid-based expert advisor for MetaTrader 5 that trades AUDCAD, AUDNZD and NZDCAD from a single M15 chart. It uses Bollinger Bands and an RSI filter and needs a hedging account.
Get one message the moment it launches, with its price.
Waka Waka EA is a grid expert advisor for MetaTrader 5. It opens an initial trade when price reaches a band extreme and the RSI filter agrees, then adds averaging trades at spaced levels if the market moves against it. It is built for three AUD and NZD cross pairs and runs from a single M15 chart.
The EA uses Bollinger Bands to mark upper and lower price levels, which act as short-term support and resistance. An RSI filter screens out setups that look to have little room to move. When a signal passes both checks, the EA opens an initial position with a take profit measured in pips.
If price continues against the initial trade, the EA can add further trades once the minimum distance has been reached. A smart distance option adjusts that spacing to current volatility. Separate multipliers apply to the second trade, the third to fifth trades and the sixth trade onwards, and a maximum trade count limits how deep a grid can go. The grid take profit can be set in pips, or left at zero so it is calculated as a weighted money target based on the initial order.
You can cap the number of symbols open at once, set a maximum spread and lot size, switch buy or sell trades off, and block trading over the holiday period. A maximum drawdown percentage closes positions when floating loss passes your limit. The stop loss for the grid can be hidden from the server.
The main inputs are grouped below. Check the defaults in your own terminal before changing them.
| Parameter | Purpose |
|---|---|
| Allow opening a new grid | Turns new grids on or off without affecting open ones |
| Lot-sizing method | Fixed lots, dynamic lots, deposit load % or predefined risk presets |
| Maximum lot, spread and slippage | Limits on trade size and execution conditions |
| Maximum symbols | How many symbols may hold trades at once |
| Maximum drawdown percent | Closes positions if floating drawdown passes the limit |
| Symbols | Symbol names, to be edited if your broker uses a suffix |
| Bollinger Bands period, RSI period, maximum RSI value | Entry level and filter controls |
| Take profit and stop loss | Targets for the initial trade and the grid, plus a hide stop loss option |
| Trade distance, smart distance, multipliers, maximum trades | Grid spacing, sizing and depth |
| Trade comment, UID, show panel | Order comment, instance number and info panel |
Grid and averaging systems can hold losing positions for some time and use more margin as trades are added. Choose lot sizing in line with your balance and leverage, and begin with the lowest risk option. A hedging account, a reliable VPS and a low-latency ECN-type broker are all advisable.
Trading carries risk, and past results, including any backtest or live record, do not predict future ones. Test on a demo account before using real funds and never risk money you cannot afford to lose.
| Product type | Expert Advisor |
|---|---|
| Platform | MetaTrader 5 (hedging account required) |
| Strategy focus | Grid, Support and resistance |
| Delivery | Download from your account after purchase |
| License key | Not needed |
| Status | Launching soon |
| Category | Expert advisor (automated trading) |
| Strategy | Grid / averaging with support and resistance style levels |
| Currency pairs | AUDCAD, AUDNZD, NZDCAD |
| Recommended timeframe | M15, attached to one chart only |
| Indicators used | Bollinger Bands and RSI |
| Lot sizing | Fixed, dynamic, deposit load % or risk presets |
| Requirements | VPS recommended, ECN broker advised, WebRequest access enabled |
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This is the MetaTrader 5 edition, so it will not run on MT4. The account must be a hedging account, because the EA can hold trades in both directions on the same symbol. Netting accounts are not suitable. Check your account type with your broker before buying.
No. Attach it to one M15 chart only. AUDCAD is the usual choice. The EA reads the other supported symbols from that single chart, so extra charts are not needed and should be avoided.
Yes, but you must edit the Symbol parameter so the names match your broker, for example by adding the suffix after each pair. Check the exact names in your Market Watch window first.
The news filter and the time detection read from external websites. In MetaTrader 5, open Tools, Options, Expert Advisors, tick the option to allow WebRequest for listed URLs and add the addresses given in the product instructions. Without this the news filter and time detection may not work properly.
Grid systems use margin as trades are added, so low leverage and a small balance can lead to free margin problems. Start with the lowest risk setting, test on a demo account, and confirm leverage and margin requirements with your broker. No minimum deposit is stated here, so check this yourself.
No. The default settings are stored inside the EA. You can change them in the inputs window if you want, but it is sensible to test any change on a demo account first.
Waka Waka EA MT5
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