The Ultimate Bot v1.41
Manual
About
The Ultimate Bot - the name says it all.
On launch, 6 Expert Advisors for the price of 1, some of our own working strategies, and some borrowed and adapted from the market.
Any future successful strategies will be added to the free EA updates in the future. Never buy another bot again!
In coding this I wanted to invest my own funds and savings into long term, sustainable EAs, and I want to share that journey with as many people as is reasonable.
Of course we can't predict the future, but that is my goal. On launch the max drawdown for the Ultimate EA is about the same as the average monthly profit. I'd like to add enough strategies so the average monthly drawdown or if a loss is incurred that it's less than the monthly average profit, aiming to ensure there's never a month that books a loss. The annual Risk-Reward ratio is 1:10 on launch. With the three new strategies added this looks more like 1:20!
Setup
If you are a novice in the world of trading and are interested in purchasing an EA from the mql5.com market, there are several steps that you need to follow to ensure that you able to do so successfully. Firstly, you will need to create an account on the website and purchase the Ultimate Bot either by depositing funds to your account or using a card payment.
Open a broker account and transfer trading funds to it. My recommended broker is IC Markets - Click here to open an account.
After that, you will need to set up your VPS by selecting a provider (I recommend a Windows 2016 machine on forexvps.net's Basic+ account. Pick the server location closest to your broker's servers) and following their instructions. This can be bit tricky if you are not familiar with the process, but most providers offer detailed instructions that you can follow.
Also be sure to set up the VPS so that it restarts itself once per week (on a Sunday or Saturday), and when it restarts it automatically re-opens your metatrader terminal(s). Instructions on the latter are on your forexvps.net desktop as standard, instructions on the former can be found here. Set it to run shutdown.exe and just use the argument '-r' (without apostrophe's) when creating the task.
Once you have your VPS set up, you can download and install the MetaTrader terminal, which is the platform that you will use to run your EA.
Login to your mql5.com account in the terminal to download the Ultimate Bot to your VPS.
Show all symbols that will be traded in the Market Watch. The Ultimate Bot trades XAUUSD, GBPUSD, AUDCAD, EURGBP, USDCAD, EURUSD, GBPJPY, EURJPY and USDJPY.
Go to Tools - Options - Expert Advisors and uncheck the box that says 'Disable algorithmic trading when the account has been changed'. Click Okay/Save.
Make sure automated trading is enabled (Green arrow is visible, not a Red Square).
Right click on the AUDCAD pair in the Market Watch and Open the Chart. Change the timeframe to M15.
Drag and drop the Ultimate Bot to the chart.
Well done! Next, a window will open where you can change the inputs, or settings, for how the EA will run.
Inputs / Settings
The Ultimate Bot is incredibly powerful, but has very few settings, making it very easy to use.
Order Comment:
The comment that will be sent along with all your trades. Input some text to attach to every Ultimate Bot trade.
FIXED LOTS vs Risk Factor: Recommendation Risk Factors 1 - 4
If you leave as the default, FIXED_LOTS, fixed lots will be used to calculate all order sizes. The other Risk Factors have been setup based on historical drawdown. All strategies trade on account equity, so if one strategy is in 25%Drawdown, the other bots will only trade on the 75% of your available balance. Here's how each Risk Factor is calculated.
RF1 Low Risk - aims for around 5% max DD
RF2 - around 7.5-10% DD
RF3 - around 15%DD
RF4 - around 25%DD
RF5 - around 50%DD
!IMPORTANT! All lot size calculations are based on GBP. Use the Risk Factor Multiplier input to convert your account deposit currency to 1GBP, or the DD values above will be incorrect or dangerous, especially for JPY and AUD deposits.
Here are the rough values to enter into the Risk Factor Multiplier input for different account deposits:
EUR -> 0.8
USD -> 0.75
AUD -> 0.5
JPY -> 0.0054
The Risk Factor multiplier can also be used for Spread Bet accounts and prop firms / for finer control of the Risk Factors. See the separate section for more detail.
WARNING - Minimum deposit for accounts with 1:100 leverage or less is $1,250. For accounts with 1:200 leverage and above the minimum deposit is $250. If balances drop below these levels while trading, all trading logic stops, including virtual stop losses, so please make sure you have a good funding buffer based on your account leverage!
WARNING - Drawdown and EXPOSURE are different things. Each strategy's risk is set on historical drawdown levels. For Risk Factor 1 - risk is set so each strategy doesn't go below 5%DD. Because the strategies are uncorrelated, this means if one fails, it's unlikely the others will at the same time, so each strategy can support the others. However, if multiple strategies fail at a similar time, there's nothing stopping having sequential 5% losses at Risk Factor 1, so within a few weeks, 3 strategies all fail with a 5% loss, totalling 15% loss overall. So your EXPOSURE is actually always higher than the max DD for each risk factor. It's very unlikely or unusual for multiple strategies to fail before the account has recovered any losses - but there is no reason why this can't happen in future (in fact already did happen in August 2024). It's just statistically less likely, please bear your EXPOSURE in mind as well as your max risk per strategy.
Recovery Rate: Recommendation - OFF, LIGHT, MEDIUM
The Recovery Rate increases the lot size calculations for all strategies if the account balance drops by more than 20 units of the account currency until this level is restored.
Light - multiplies lot-sizes by 1.2
Medium - multiplies lot-sizes by 1.5
Aggressive - multiplies lot-sizes by 2
This multiplication is continued until the account balance is restored to its historical high. The pros of this are, considering balance drops are quite rare, it speeds up recovery time. The cons are obviously if another loss is incurred before the account has recovered, the second loss will be even bigger than the first. Usually if there is a loss, it has represented some unusual volatility in the market. Once that volatility has settled, this can be a great time to recoup the loss. This is at least what the history has shown, so we make this option available to you.
Statistically there's no reason why two losses couldn't be incurred in a row in future, so the Recovery Rate could be considered a form of gambling depending on how it's used / why we don't recommend the 'Aggressive' setting, except for high leverage accounts using medium/low risk.
WARNING - There is only one setting which is mathematically able to blow a 1:500 leverage account: Risk Factor 5 / Very High risk with AGGRESSIVE recovery. DO NOT COMBINE THESE TWO SETTINGS.
WARNING 2 - If you make a withdrawal from your broker account, the Balance tracker can't distinguish between a withdrawal and a loss. Over the weekend when trading is paused, open your VPS MT5 terminal and press 'F3' on your keyboard after you make a withdrawal. A window will open showing a variable called BH (BalanceHigh) - showing the highest your account balance the EA has ever recorded. After making a withdrawal, manually adjust this variable to your post-withdrawal balance so Recovery Rate isn't triggered when trading resumes.
After a loss in backtesting, the 'Secker Punch' strategy best demonstrates how the Recovery Rate works.
Fixed Lots
The amount of fixed lots to use per opening trade per strategy, if FIXED_LOTS is selected instead of any of the 5 Risk Factors.
Broker prefix / suffix - IMPORTANT!
Manually enter the prefix, and/or suffix used by your broker account where appropriate. E.g. if your broker account spells the AUDCAD pair AUDCAD.r, enter '.r' in the suffix box. If they spell XAUUSD 'fxXAUUSD', enter 'fx' in the prefix box. Prefix means 'before' and Suffix means 'after'. If your broker account spells the pairs cleanly, with no prefix or suffix, leave these boxes empty.
Enable Strategy? True / false
Set true or false for each strategy to disable or enable each.
Strategy Review
STRATGY REVIEW LEGEND
FSL = Fixed Stop Loss (all others use Virtual StopLoss)
SBS = Spread Bet Safe (suited for use on Spread Bet accounts)
PACMAN
REVERSAL STRATEGY
MAX ORDERS: 6
TP: 10pips
SPEED: Fast
Safer adaptation of one of the longest running bots on the market, trading AUDCAD. Only trades the 6th-25th of every month, except December.
HANDSHAKE
COMBINATION STRATEGY: SBS
MAX ORDERS: 5/6
TP: 20-30 pips
SPEED: Variable, 2hours -> 360hours
Fast adaptation of our Prosperity EA, trading EURGBP. Some trades close within a few hours, others stay open for several weeks. Because of this, there is an option underneath the 'Use 'Handshake?' input labelled 'Disable new Handshake trades?'. If you set this to 'true', the trading logic for any open Handshake trades (EURGBP) will continue as normal, but no NEW trades will be opened. Use this if you want to make a withdrawal, or avoid upcoming news.
SHARPE GOLD (no longer recommended)
REVERSAL STRATEGY
MAX ORDERS: 7
TP: 5-15 pips
SPEED: Very Fast
Our own aggressive strategy trading XAUUSD. Trades won't hang for long, laser-sharp trading but no scalping.
NOTE: Sharpe Gold calculates its virtual SL differently because it doesn't used fixed grid steps, and also has stricter limitations on when it will and won't open trades. Typically if your deposit is too low, and your risk is too low, it won't open any trades. Similarly if your risk is too high and deposit too low. A healthy account deposit will work with all risk levels, and higher risk levels are more likely to work with lower deposits. Please backtest matching your desired Risk Factor and deposit size to see if you're within Sharpe Gold's pre-determined acceptable levels.
SECKER PUNCH
TREND STRATEGY: FSL, SBS
MAX ORDERS: 1 (can be simultaneous)
TP: 25 pips
SPEED: Medium-Slow
Adaptation of the Volatility Reversal demonstrated by Greg Secker. Found working on GBPUSD, GBPJPY and EURUSD.
QUANTUM KING
TREND STRATEGY: SBS
MAX ORDERS: 8
TP: 5-10 pips
SPEED: Very Fast
Adaptation of one of the highest grossing bots on the market. Trades breakout trends on GBPUSD.
LOONATIC (no longer recommended)
REVERSAL STRATEGY: SBS
MAX ORDERS: 7
TP: 20+ pips
SPEED: Medium-Fast
Our own strategy trading the USDCAD 'Loonie' pair.
BEARCLAW
TREND STRATEGY: SBS, FSL
MAX ORDERS: 1
TP: ATR/Volatility based 10pips -400pips
SPEED: Medium-slow
Simple RSI crossover strategy optimised across multiple atypical pairs including EURAUD, GBPJPY, XAUUSD, GBPNZD and EURUSD. No Grids.
YEN BUSTER
TREND STRATEGY: SBS, FSL
MAX ORDERS: 3
TP: 100+ pips
SPEED: Medium
Seeks trend-following trading USD, EUR and GBP against the Yen. Wide and simple macro / fundamental strategy.
ALGO REBEL
COMBINATION STRATEGY: SBS, FSL
MAX ORDERS: 1
TP: 10-60 pips
SPEED: Fast
Created with the help of ChatGPT, this simple idea seeks typical behaviour depending on which day of the week it is. Monday mornings look for ranges with the AUDCAD pair. Tuesday morning follow EURUSD trends. Wednesday mornings seek reversals on GBPUSD, and Fridays seek range breakouts on XAUUSD at the start of the major sessions.
TRADE HUNTER
COMBINATION STRATEGY: SBS, FSL
MAX ORDERS: 1
TP: 10-60 pips
SPEED: Medium
Created using innovative optimisation techniques using the Market Facilitation Index for EURUSD and USDJPY to predict large moves, gridless strategy using sophisticated entries. Also includes EURAUD strategy predicting reversals using multi-timeframe slowdowns of the stocashtic oscillator.
JULIUS
TREND FOLLOWING: SBS, FSL
MAX ORDERS: 1
TP: 25Pips
SPEED: Medium
Created using AI driven analysis, Julius is a simple strategy looking for consecutive Bear bars just after lunchtime / in low volatility periods on EURUSD.
BITBULL
TREND-FOLLOWING: FSL
MAX ORDERS: 1
TP: Normal to Very Large
SPEED: Medium
An Inversion of the BearClaw strategy trading Buys (which seems a stronger predictive direction for BTCUSD) - this seeks small losses and huge gains use the ATR.
WARNING - BTCUSD is very volatile, and this strategy has its own Risk Level input in the settings section. Level 1 is recommended for most accounts. For AUD and JPY deposits values of 0.5 and lower may be needed. Recommend running on a demo account / on separate accounts before / while trading live.
Multiplier / Magic number
RISK FACTOR MULTIPLIER
Here you can manually add a multiplier to all Risk Factor lot size calculations. Please note this multiplier affects normal trades, AND recovery trades, but does not affect fixed lots in any way.
Example multipliers:
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'2.0' / '2': Doubles all lot sizes
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0.5: Reduces all lot sizes by half, or 50%
Common use cases for the Risk Factor Multiplier:
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Adding risk to Spread-Bet-Safe (SBS) strategies to optimise them for Spread Bet accounts, usually a multiplier of 2, 2.5 or 3
-
Reducing risk for Prop Firm accounts (e.g. Risk Factor 1 with a multiplier of '0.75' to reduce risk of going over 5% max daily drawdown
-
Fine-tuning any of the pre-set Risk Factors to meet your needs on a more precise basis.
-
Account currencies - Normalising lot sizes with Yen accounts, Rupees, MYD etc. Adjust with values like 0.0048 or 0.1, or 0.5 for AUD, 0.75 for USD, and 0.8 for EUR to keep DDs in line with this manual.
MAGIC NUMBER
The Ultimate Bot uses magic numbers to identify all of its own trades. Its magic numbers start from the base / input Magic Number, and go from a range of +600 from the base. E.g. All trades 100000->100600 will be allocated to Ultimate Bot trades (default). If you set the Magic number input to 1000, all trades from 1000->1600 will be allocated to Ultimate Bot trades. Don't overlap magic numbers from other EAs, and don't change the base magic number if you have trades open, including if updating the Ultimate Bot!
Allow Hedging?
US Accounts
Typically for US brokers, where rules are stricter - disable Hedging, so there is no trading on both sides of one pair at a time.
Set this option to 'false' if you want to disable Hedging with your broker.
The Ultimate Bot also closes trades in FIFO order / is FIFO compliant.
Pair and Weekday Filters
Secker Punch Pair Filter
Pick which pairs the Secker Punch strategy trades with. GJ = GBPJPY | GU = GBPUSD | EU = EURUSD
GU - trade GBPUSD only
GJGUEU - trade all three pairs
Yen Buster Pair Filter
As above - pick which pairs to trade against the Yen. U = USDJPY | E = EURJPY | G = GBPJPY
U = USDJPY only
UEG = trade all three pairs
AlgoRebel Day Filter
Choose which days the AlgoRebel strategy trades, pick from Monday - Friday or any combination thereof
FAQ
Which chart do I attach the Ultimate Bot to?
Attach it to one-chart, AUDCAD M15. DO NOT ATTACH TO MULTIPLE CHARTS!
Can I use different Risk levels for different strategies?
Yes (Advanced users only) - To do this, attach each risk level to its own AUDCAD M15 chart, disabling all strategies except the ones you want to use at that level of risk.
E.g. if you want to use strategies 1-3 on Risk Factor 4, attach to an AUDCAD M15 chart at Risk 4, and disable strategies 4-6. Then to use the other strats at Risk Factor 2, attach to another AUDCAD M15 chart at Risk 2, and disable strategies 1-3.
How future-proof is the Ultimate Bot?
Most strategies have been forwarded tested / traded live for over a year before launch. All strategies have survived a global shutdown of the economy, and the announcement of two wars. It's fair to say all strategies are pretty future-proof, however nothing can be guaranteed. All strategies aim to break-even or have a controlled loss in case of adverse events. Every time a new strategy is found to work it will be added to the Ultimate Bot, FREE OF CHARGE! Never buy another bot again! My goal is to keep the Ultimate Bot up to date and working consistently well into the future - I'm trading my own money and savings using the exact same strategies.
Thanks for reading!