The Turtle Traders are a piece of trading folklore, a group of novices who, following a simple but rigorous trend-following system, generated massive returns in the 1980s. The Mad Turtle MT5 EA aims to bring this legendary strategy into the modern era by fully automating it within the popular MetaTrader 5 platform.
This Expert Advisor (EA) is designed to identify and ride significant market trends, executing trades automatically based on the core principles of the original Turtle Trading rules. But does automating a classic strategy lead to consistent profits? This comprehensive review will break down everything you need to know about the Mad Turtle MT5 EA.
What is the Mad Turtle MT5 EA?
The Mad Turtle MT5 EA is an automated trading software (Expert Advisor) for MetaTrader 5 that codifies the rules of the famous Turtle Trading system. Its primary goal is to capture large price movements by entering breakouts from a defined range and managing trades with a precise exit strategy.
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Instead of a trader manually watching for breakouts and calculating position sizes, the Mad Turtle EA does it all automatically, 24/5, removing emotion and ensuring discipline.
Key Features and Benefits
The Mad Turtle EA distinguishes itself with features faithful to the original system while leveraging the power of MT5.
| Feature | Description | Benefit |
|---|---|---|
| Automated Turtle Strategy | Faithfully implements the core breakout and trend-following logic of the original system. | Eliminates emotional trading and ensures strict discipline. |
| Advanced Position Sizing | Uses volatility-based position sizing (N-factor) to adjust trade volume according to market conditions. | Manages risk effectively by trading smaller sizes in volatile markets. |
| Built-in Risk Management | Includes customizable Stop Loss, Take Profit, and Trailing Stop parameters. | Protects your capital and helps lock in profits during strong trends. |
| Multi-Currency & Timeframe | Can be applied to any forex pair, commodity, or index on various timeframes (M15, H1, H4 recommended). | Offers flexibility and allows for diversification across instruments. |
| Easy-to-Use Interface | Simple configuration with clear input parameters for traders of all experience levels. | Quick setup without the need for complex programming knowledge. |
How Does the Mad Turtle EA Strategy Work?
The EA’s logic is based on two primary concepts from the Turtle system: the Entry Signal and the Pyramiding (Adding to Positions).
- Entry Signal: The EA calculates a 20-period and 55-period channel (high and low). A buy signal is generated when the price breaks above the 20-period high. Conversely, a sell signal is generated when the price breaks below the 20-period low. The 55-period channel acts as a filter for stronger trend signals.
- Pyramiding: If a trend continues, the system adds to winning positions at predefined intervals (e.g., every 0.5N or 1N, where “N” is the market’s volatility). This allows the EA to maximize profits during extended trends.
System Requirements
To run the Mad Turtle MT5 EA effectively, your trading environment should meet these criteria.
| Component | Recommended Specification |
|---|---|
| Platform | MetaTrader 5 (Latest Version) |
| Account Type | ECN or Raw Spread Account is highly recommended. |
| Minimum Deposit | Varies, but a minimum of $500 is suggested for proper risk management and position sizing. |
| Recommended Pairs | Major forex pairs with good trend behavior (e.g., EURUSD, GBPUSD, XAUUSD). |
| VPS (Virtual Private Server) | Highly Recommended. Ensures 24/5 uptime without interruptions from your PC/internet. |
Pros and Cons at a Glance
| Pros | Cons |
|---|---|
| ✅ Based on a time-tested, logical strategy. | ❌ Prone to drawdowns during ranging, choppy markets. |
| ✅ Fully automated, emotion-free execution. | ❌ Requires patience, as losing streaks are part of the system. |
| ✅ Excellent risk-to-reward ratio on winning trades. | ❌ Not a “set-and-forget” system; requires periodic monitoring. |
| ✅ Customizable parameters for fine-tuning. | ❌ Performance is highly dependent on the market’s trending nature. |
How to Set Up the Mad Turtle MT5 EA
- Purchase & Download: Acquire the EA from the official vendor.
- Install on MT5: Copy the
.ex5file into theExpertsfolder of your MT5 data directory. - Attach to Chart: Drag and drop the EA onto the chart of your chosen trading instrument.
- Configure Settings: Adjust key parameters like Lot Size, Risk Percentage, Stop Loss (in N), and enable Auto Trading.
- Test on Demo: Always run the EA on a demo account first to familiarize yourself with its behavior.
Frequently Asked Questions (Q&A)
Q1: Is the Mad Turtle MT5 EA a guaranteed profit-making machine?
A: Absolutely not. No EA can guarantee profits. The Mad Turtle is a tool that executes a specific strategy. It will have losing streaks, especially in sideways markets. Its strength is in capturing large trends over the long term.
Q2: What is the “N” factor I keep seeing?
A: “N” is a measure of market volatility, specifically the 20-period Average True Range (ATR). The EA uses N to calculate position size (to risk the same amount on every trade) and to determine the distance for adding to positions (pyramiding) and setting stops.
Q3: Can I use it on MetaTrader 4 (MT4)?
A: Typically, the “Mad Turtle” is specifically coded for the MT5 platform. While similar EAs exist for MT4, you should check with the vendor for MT4 compatibility.
Q4: What is the best timeframe to use with this EA?
A: The strategy works on multiple timeframes. However, H1 and H4 are often recommended as they provide a good balance between signal frequency and trend reliability, reducing market noise found on lower timeframes like M1 or M5.
Q5: Why is a VPS so important for this EA?
A: Since the EA trades breakouts that can happen at any time of day, it must be running continuously. A VPS ensures your MT5 platform and the EA are never offline due to a power outage, internet failure, or your computer being turned off.
Q6: How much should I realistically expect to make?
A: It’s dangerous to focus on monthly percentage returns. Focus instead on the strategy’s long-term equity curve. The goal of trend-following is to have many small losses and a few large wins, resulting in positive expectancy over hundreds of trades.
Final Verdict
The Mad Turtle MT5 EA is a well-crafted automation of a proven trend-following strategy. It is best suited for traders who understand and accept the principles of trend-following: patience through drawdowns and discipline to capture large moves.
If you are looking for a “holy grail” that wins every trade, this is not it. But if you seek a systematic, rules-based approach to capitalize on long-term market trends without manual effort, the Mad Turtle EA is a compelling tool worth testing in a demo environment.
Vendor website: View here
Mad Turtle MT5 EA (Download link inside)
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