Blazzers Squid MT4 is a highly configurable Expert Advisor (EA) designed for precision trading using price action and trend quality filters. Below is a breakdown of its key parameters:
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⚙️ Core Configuration
- Magic Number:
6730
Used to identify and manage trades uniquely, especially when running multiple EAs on the same terminal.
📊 Trend Filter Configuration
- Past Candles Count (
inp27&inp28):60
Evaluates the previous 60 candles to calculate the trend. - Past Pips Minimum:
1.0
Minimum pip movement to consider as a valid trend. - Trend Quality:
7.0
Represents the required quality threshold for trend recognition; higher values suggest stronger trends.
These parameters help the EA determine valid market conditions for entry based on recent price momentum.
💰 Lot Size Settings
Across multiple trade groups (inp29, inp35, inp38, inp40, etc.), the VolumeSize is consistently set to:
- 0.01 lots – a conservative, low-risk fixed lot size ideal for small or funded accounts.
🛡️ Risk Management Settings
- Stop Loss:
Multiple groups of trades use:20.0 pipsSL – providing solid downside protection.
- Take Profit:
Defined across different input groups:10.0 pipsfor some strategies5.0 pipsfor others – indicating scalping-style exits.
This balance shows the EA is built for short-term profit-taking with tight SL, helping reduce exposure during volatile conditions.
🎯 Trade Strategy Customization
- Multiple entries with similar SL/TP and trend filters indicate multi-layered strategy logic, likely adapting to different market phases (e.g., trending, ranging).
- Use of
_ObjCorner = 1– likely defines chart object positioning for on-screen visuals or trade label rendering.
✅ Conclusion
Blazzers Squid MT4 is a trend-based, multi-strategy Expert Advisor optimized for low-risk scalping. With tight stop-losses, small lot sizes, and refined trend detection settings, this EA is best suited for:
- Traders looking for a reliable intraday scalping system
- Accounts with funding challenges or prop firm requirements
- Strategies that demand low drawdown and precise execution
The current settings reflect a conservative and highly controlled trading approach, making it ideal for traders prioritizing risk management and consistent performance over aggressive growth.
