Wave Rider EA MT5 v4.10 with SetFiles (Unlimited)
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Quick Verdict – Professional Multi-Strategy Gold Trading Robot for MT5
Wave Rider EA is a sophisticated Gold trading Expert Advisor (EA) that combines seven adaptive strategies with triple-timeframe confirmation and intelligent account protection. Whether you prefer single-position trading or controlled recovery mode, the EA offers exceptional flexibility, strong risk controls, and consistent execution for traders seeking disciplined automated XAUUSD trading.
Best For
Wave Rider EA is ideal for:
✅ XAUUSD (Gold) traders.
✅ Professional scalpers.
✅ Traders seeking multi-strategy automation.
✅ Prop Firm traders.
✅ Conservative and aggressive traders.
✅ Traders wanting advanced risk management.
✅ ECN/RAW account users.
Overall Rating
9.6/10 ⭐⭐⭐⭐⭐
What is Wave Rider EA?
Wave Rider EA is a professional MetaTrader 5 Expert Advisor developed specifically for XAUUSD (Gold) trading. Instead of relying on a single strategy, it integrates seven independent trading modules, allowing the EA to adapt to changing market conditions throughout the trading day.
Unlike traditional scalping robots, Wave Rider first evaluates the broader market trend using triple-timeframe confirmation before executing trades. It combines H1 trend analysis with M15 and M30 entry confirmation to avoid trading against the prevailing market direction.
Vendor Website: View here
How Does Wave Rider EA Work?
Triple-Timeframe Market Confirmation
Wave Rider first determines the primary market direction using the H1 EMA trend filter. It then validates entries using lower timeframes (M15 and M30), ensuring trades align with the broader market structure rather than fighting the trend.
Seven Independent Trading Strategies
The EA continuously monitors multiple market conditions through seven specialized strategies:
🔹 S01: Support & Resistance Breakouts
🔹 S02: Pullback Detection
🔹 S03: Trend Breakout
🔹 S04: M5 Bounce
🔹 S05: Smart Money Volume Analysis
🔹 S06: Momentum Continuation
🔹 S07: Impulse Trading
If one strategy remains inactive, another may identify a valid setup, providing consistent market coverage.
Intelligent Recovery or Single Position
Users can select between:
Recovery Mode
🔹 Intelligent recovery grid
🔹 Progressive spacing
🔹 Break-even calculation
🔹 Trailing stop management
🔹 Configurable lot multiplier (default 1.0)
Single Position Mode
🔹 One trade only
🔹 Fixed Stop Loss
🔹 Fixed Take Profit
🔹 Trailing Stop
🔹 No grid
🔹 No recovery positions
Adaptive Risk Protection
Wave Rider continuously monitors:
🔹 Drawdown
🔹 Market volatility
🔹 All-Time High conditions
🔹 Economic news
🔹 Session timing
If market conditions become dangerous, the EA can suspend new entries automatically.
Key Features of Wave Rider EA
Seven Independent Trading Engines
Multiple specialized strategies allow the EA to adapt to different market environments instead of relying on one fixed trading model.
Triple-Timeframe Confirmation
Combines H1 trend filtering with M15 and M30 confirmation to improve trade quality.
Intelligent Recovery System
Recovery mode activates only when necessary and can be completely disabled for traders preferring single-position execution.
Prop Firm Friendly Mode
Single Position mode avoids grid recovery and opens only one protected trade at a time.
Advanced News Filter
The EA automatically pauses new entries around major events including:
🔹 CPI
🔹 FOMC
🔹 NFP
🔹 USD Bank Holidays
🔹 Presidential Events
Existing trades continue to be managed normally.
NextGen Dashboard
Displays:
🔹 Current strategy status
🔹 Account performance
🔹 Drawdown
🔹 Risk profile
🔹 News protection
🔹 Position sizing
🔹 Strategy profit/loss
Flexible Position Sizing
Supports:
🔹 Fixed Lot
🔹 Auto Risk
🔹 Custom Scaling
Multiple Trading Sessions
Users can configure:
🔹 Daily trading windows
🔹 Friday schedule
🔹 Strategy-specific trading hours
Verified Live Signal Performance
The supplied live monitoring shows consistent account growth with controlled trading activity over a 23-week period.
Wave Rider EA Live Signal
| Metric | Live Result |
|---|---|
| Growth | 55% |
| Signal Age | 23 Weeks |
| Profit Trades | 75.8% |
| Maximum Drawdown | 33.8% |
| Trading Activity | 0.2% |
| Max Deposit Load | 19.9% |
| Initial Deposit | €300.95 |
| Current Equity | €611.69 |
| Current Profit | €167.74 |
Live Performance Analysis
The verified signal demonstrates a 55% account growth over 23 weeks, reflecting steady equity appreciation rather than short-term spikes.
A 75.8% winning trade ratio suggests consistent trade selection, while the 33.8% maximum drawdown indicates that recovery periods can occur, particularly when using the intelligent recovery mode.
The low 0.2% trading activity highlights the EA’s selective approach, entering only when market conditions align with its predefined criteria.
Historical Trading Results Performance
Strategy Tester Summary
Wave Rider EA MT5 Trading Results
| Metric | Result |
|---|---|
| Initial Deposit | $1,000 |
| Total Net Profit | $3,248.39 |
| Profit Factor | 7.54 |
| Recovery Factor | 8.65 |
| Win Rate | 85.68% |
| Total Trades | 1,124 |
| Relative Drawdown | 9.76% |
| Sharpe Ratio | 136.07 |
| Largest Consecutive Wins | 36 Trades |
Historical Analysis
The supplied backtest presents a strong balance between profitability and risk control. Over 1,124 trades, the EA achieved an 85.68% winning rate with a Profit Factor of 7.54, indicating that profitable trades significantly outweighed losing trades.
The 9.76% relative drawdown remains comparatively moderate considering the high number of executed trades, while the steadily rising balance curve suggests stable long-term performance rather than isolated profitable periods.
What Real Users Are Saying (User Reviews)
⭐⭐⭐⭐⭐ Ocean (2026.08.05)
“Absolutely honest developer who truly cares about users. Exceptional care for a safe grid system.”
⭐⭐⭐⭐⭐ Huckenien (2026.08.04)
“Adam does a great job with this EA. Highly recommended.”
⭐⭐⭐⭐⭐ Ssalsik (2026.08.03)
“A great addition to any trading bot portfolio. It only opens trades when the conditions are favorable.”
⭐⭐⭐⭐⭐ Domykyungsoo (2026.07.24)
“Responsible developer. Trades are fast, profitable, and the developer actively provides updates and setting recommendations.”
⭐⭐⭐⭐⭐ Qa Ban (2026.07.17)
“One of the best EAs. The developer understands the market well and continually improves the EA over time.”
User reviews of Wave Rider EA
Why Wave Rider EA Stands Out
Seven Strategies in One EA
Instead of relying on one entry logic, Wave Rider continuously evaluates multiple trading models, allowing it to adapt to changing market conditions.
Triple-Timeframe Confirmation
Many Gold EAs trade solely on lower timeframes. Wave Rider aligns lower-timeframe entries with the higher-timeframe trend to improve trade quality.
Two Trading Modes
Few Expert Advisors offer both:
🔹 Intelligent Recovery
🔹 Pure Single Position Trading
Within the same product.
Institutional Risk Controls
The EA integrates:
🔹 Dynamic Exit
🔹 Drawdown Protection
🔹 ATH Protection
🔹 Advanced News Filtering
To reduce exposure during unfavorable conditions.
Highly Configurable
Users can independently configure:
🔹 Entry aggressiveness
🔹 Position sizing
🔹 Trading sessions
🔹 Recovery behavior
🔹 Risk profiles
Without affecting the core strategy logic.
Risk Management Features
Risk management is one of Wave Rider EA’s strongest capabilities.
Three Layers of Protection
The EA includes:
🔹 Daily Drawdown Protection
🔹 All-Time High (ATH) Protection
🔹 Dynamic Exit Protection
These mechanisms help safeguard the account during volatile or abnormal market conditions.
Intelligent Recovery
Recovery mode uses:
🔹 Configurable spacing
🔹 Optional lot multiplier
🔹 Break-even calculation
🔹 Broker-side trailing stop
Importantly, the default multiplier is 1.0, avoiding traditional martingale escalation.
Flexible Position Sizing
Choose from:
🔹 Fixed Lot
🔹 Auto Risk
🔹 Custom Scaling
Allowing the EA to adapt to different account sizes and trader preferences.
News Protection
The built-in news filter blocks new entries around major economic releases while continuing to manage existing positions safely.
Recommended Trading Conditions
For the best trading experience, the developer recommends:
| Parameter | Recommendation |
|---|---|
| Platform | MetaTrader 5 |
| Symbol | XAUUSD |
| Timeframe | Any (internal multi-timeframe logic) |
| Minimum Deposit | $300 |
| Recommended Deposit | $800+ |
| Leverage | 1:100 minimum (1:500 preferred) |
| Account Type | Hedging |
| Broker | ECN / RAW Spread |
| VPS | Highly Recommended |
Product Download Package?
The download package of the product suite includes:
Experts
Wave Rider EA MT5_4.1.ex5
Indicators
__ZigZag.ex5
SetFiles
Wave Rider_Recovery (Grid).set
Wave Rider_Single Position (SL_TP).set
Recovery (Grid)_Very High Risk_$500.set
Recovery (Grid)_High Risk_$800.set
Recovery (Grid)_Medium Risk_$1500.set
Recovery (Grid)_Low Risk_$2000.set
Recovery (Grid)_Very Low Risk_$4000.set
Reviewed by David Easton
Weaknesses and Risk Warnings
Although Wave Rider EA demonstrates strong live and historical performance, traders should consider several important factors.
Recovery Mode Increases Risk
While the recovery system is designed conservatively, enabling recovery mode can increase account exposure during prolonged adverse market movements.
Broker Quality Matters
Execution quality, spread, and liquidity can significantly influence results, making ECN or RAW accounts the preferred choice.
Market Conditions Change
No Expert Advisor performs perfectly under every market condition. Even with multiple protection layers, periods of drawdown are inevitable.
Backtests Are Historical
Historical testing provides valuable insights but does not guarantee future profitability. Live results may vary depending on spreads, slippage, broker execution and changing market behavior.
Who Should Use Wave Rider EA?
Wave Rider EA is best suited for traders who:
🔹 Trade Gold (XAUUSD).
🔹 Prefer fully automated trading.
🔹 Want multi-strategy diversification.
🔹 Need advanced risk management.
🔹 Trade Prop Firm accounts using Single Position Mode.
🔹 Prefer configurable recovery options.
🔹 Value disciplined trend-following execution.
🔹 Seek professional-grade account protection.
It is suitable for both conservative traders using Single Position mode and more experienced traders utilizing the intelligent recovery system.
Final Verdict
Wave Rider EA is a feature-rich automated trading solution that combines seven adaptive trading strategies, triple-timeframe trend confirmation, and institutional-grade risk management into one professional Expert Advisor for XAUUSD. Its ability to switch between Single Position and Intelligent Recovery modes makes it versatile enough for a wide range of trading styles, including Prop Firm challenges and traditional retail accounts.
Although traders should remain aware of the risks associated with automated trading and recovery strategies, Wave Rider EA provides an impressive combination of flexibility, intelligent trade filtering and capital protection. For traders seeking a professional Gold trading robot capable of adapting to changing market conditions, Wave Rider EA stands out as one of the more comprehensive automated solutions currently available.
🔢 Wave Rider EA MT5 Settings Guide
Wave Rider EA MT5 is a multi-strategy automated trading system for MetaTrader 5 that combines Support & Resistance, Pullback, Trend Breakout, and M5 intraday trading into a single Expert Advisor. It features intelligent position sizing, configurable grid recovery, advanced drawdown protection, trading session filters, economic news filtering and a comprehensive dashboard.
With extensive customization options, Wave Rider EA MT5 can be optimized for both conservative and aggressive trading styles while maintaining strong risk management.
Wave Rider EA MT5 Settings Panel
Wave Rider EA MT5 Panel
🔢 Wave Rider EA MT5 Settings Explained
🔄 Main Settings
🔹 Enable UI Dashboard = false – Disables the on-chart user interface dashboard during trading.
🔹 Trade Mode (Recovery/Single) = Recovery (Grid) – Uses the Grid Recovery trading mode for managing positions.
🔹 Trade Direction (BUY/SELL) = BUY and SELL – Allows both long and short positions.
🔹 Entry Strictness = Normal – Applies the Normal level of entry confirmation before opening trades.
🔹 Enable only one strategy open at time (no parallel trading) = true – Prevents multiple strategies from running simultaneously.
🔹 Enable automatic currency conversion to USD = false – Disables automatic conversion of account balance into USD.
🔹 Max spread (points) = 50 – Blocks new entries whenever the spread exceeds 50 points.
🔹 Trade comment = Wave Rider – Adds “Wave Rider” as the comment for every trade.
🔹 Append strategy code to comment (e.g. [S01]) = true – Appends the strategy identifier to the trade comment.
🔄 Position Sizing
🔹 Size Method = Automatic (matching risk level) – Automatically calculates lot size according to the selected risk level.
🔹 Fixed Lot Size = 0.01 – Uses 0.01 lots when Fixed Lot mode is selected.
🔹 Auto Risk Level = Low risk (0.01/$2000 balance) – Applies the predefined Low Risk money management profile.
🔹 Custom: Scale by Balance = 1000.0 – Increases position size for every $1,000 of account balance.
🔹 Custom: Base Lot Size = 0.01 – Uses 0.01 lots as the starting lot size.
🔄 Strategy Configuration
🎯 Support & Resistance Strategy
🔹 [S01] Enabled (Support and Resistance) = true – Enables the Support & Resistance strategy.
🔹 [S01] Magic Number = 8001 – Assigns Magic Number 8001 to S01 trades.
🎯 Pullback Strategy
🔹 [S02] Enabled (Pullback) = true – Enables the Pullback strategy.
🔹 [S02] Magic Number = 8002 – Assigns Magic Number 8002.
🎯 Trend Breakout Strategy
🔹 [S03] Enabled (Trend Breakout) = true – Activates the Trend Breakout strategy.
🔹 [S03] Magic Number = 8003 – Uses Magic Number 8003.
🎯 M5 Strategy
🔹 [S04] Enabled (M5 Strategy) = true – Enables the M5 intraday strategy.
🔹 [S04] Magic Number = 8004 – Uses Magic Number 8004.
🔄 Grid Settings
🔹 Maximum Grid Orders = 16 – Allows up to 16 grid positions.
🔹 Lot Size Multiplier = 1.0 – Keeps the same lot size for each additional grid order.
🔹 Fixed Grid Distance (Pips) = 22.0 – Opens new grid positions every 22.0 pips.
🔹 Profit Target (Pips) = 12.0 – Closes the basket when 12.0 pips profit is achieved.
🔹 Show TP Line on Chart = true – Displays the Take Profit line on the chart.
🔹 Enables Trailing Stop Loss = true – Enables trailing stop for grid positions.
🔹 Pips to start trailing after reaching virtual TP = 2.5 – Starts trailing after 2.5 pips beyond the virtual TP.
🔹 Distance in pips (step) for Trailing SL = 3.0 – Moves the trailing stop every 3.0 pips.
🔹 Enable progressive spacing (wider gaps as grid deepens) = true – Gradually widens grid spacing as more positions are opened.
🔹 Start progressive spacing from position N = 4 – Progressive spacing begins at the 4th grid position.
🔹 Distance multiplier per level above threshold = 1.2 – Multiplies spacing by 1.2 after the threshold.
🔄 Single Position Settings
🔹 Stop Loss (pips) = 250.0 – Sets Stop Loss to 250.0 pips.
🔹 Take Profit (pips) – safety net = 50.0 – Uses a 50.0 pip safety Take Profit.
🔹 Enable Trailing Stop Loss = true – Activates trailing stop for single trades.
🔹 Start trailing after (pips profit) = 12.0 – Begins trailing after 12.0 pips profit.
🔹 Trailing step (pips) = 3.0 – Updates the trailing stop every 3.0 pips.
🔢 Time Management
🔹 Base GMT offset, auto-adjusts for DST (ICM, VT, Fusion, BlackBu) = 2 – Uses GMT +2 with automatic DST adjustment.
🔹 Enable weekly time filter = true – Restricts trading according to weekly schedules.
🔹 Monday-Thursday start times = 01:15;14:35;15:45 – Defines trading session start times from Monday through Thursday.
🔹 Monday-Thursday end times = 14:20;15:20;22:30 – Defines session closing times.
🔹 Enable Friday trading = true – Allows trading on Fridays.
🔹 Friday start time = 01:30;16:00 – Friday trading begins during the configured sessions.
🔹 Friday end time = 10:00;17:00 – Friday sessions end at the configured hours.
🔹 Enable Friday NFP trading = true – Allows trading even during Non-Farm Payroll Fridays.
🔢 Protection Manager
🔹 Enable Drawdown Protection = true – Enables automatic drawdown protection.
🔹 Drawdown calculation mode = Calculate as percentage of starting balance – Calculates drawdown relative to the initial balance.
🔹 Drawdown threshold (% or money) = 35.0 – Stops trading when drawdown reaches 35.0%.
🔹 Prevent trading close to All-Time High = false – Does not block trading near equity highs.
🔹 ATH calculation timeframe = 1 Week – Uses 1 Week for ATH calculations.
🔹 ATH lookback periods = 100 – Reviews the previous 100 periods.
🔹 Distance from ATH threshold (%) = 0.25 – Uses 0.25% as the ATH protection threshold.
🔹 Dynamic Exit (close all on rapid adverse move) = false – Disables emergency exit during rapid market reversals.
🔹 Dynamic Exit (price move % to trigger) = 0.5 – Sets the emergency trigger at 0.5%.
🔹 Dynamic Exit (lookback window in seconds) = 120 – Evaluates price movement over 120 seconds.
🔢 News Filter
🔹 Enable News Filter (ForexFactory, MQL5 Calendar) = true – Enables built-in news protection.
🔹 Filter High Impact events = true – Blocks trading around High Impact news.
🔹 Filter Medium Impact events = false – Ignores Medium Impact news.
🔹 Minutes before news to stop trading = 60 – Stops opening trades 60 minutes before news.
🔹 Minutes after news to resume trading = 30 – Resumes trading 30 minutes afterward.
🔹 Manual currency filter (e.g. USD,EUR) = Blank – No manual currency restriction is configured.
🔹 Treat as high impact if name contains = FOMC,NFP,Nonfarm,CPI,Fed Chair,Interest Rate Decision,ISM Non-Manufacturing,ISM Services – Treats these keywords as High Impact events.
🔢 Strategy Trading Windows
🔄 S01 – Support & Resistance
🔹 Trading time start = 05:00 – Starts S01 trading at 05:00.
🔹 Trading time end = 20:00 – Ends S01 trading at 20:00.
🔹 Enable trading on 15min timeframe = true – Allows M15 trading.
🔹 Enable trading on 30min timeframe = true – Allows M30 trading.
🔄 S02 – Pullback
🔹 Trading start times = 01:15 – Pullback strategy begins at 01:15.
🔹 Trading end times = 13:00 – Stops Pullback trading at 13:00.
🔄 S03 – Trend Breakout
🔹 Trading time start = 06:00;16:30 – Starts Trend Breakout sessions.
🔹 Trading time end = 11:00;21:00 – Ends Trend Breakout sessions.
🔄 S04 – M5 Strategy
🔹 Trading time start = 06:00 – Begins M5 strategy at 06:00.
🔹 Trading time end = 21:00 – Ends M5 strategy at 21:00.
🔹 Require bullish candle + higher low for entry = false – Does not require this confirmation.
🔹 Enable M10 timeframe signal = false – M10 confirmation is disabled.
🔢 Dashboard Appearance
🔹 Scale override (0=auto, typical 1.0-1.5) = 0.0 – Uses automatic dashboard scaling.
🔹 Font name = Calibri – Uses Calibri font.
🔹 Base font size = 9 – Displays text with font size 9.
🔢 Conclusion
Wave Rider EA MT5 is a sophisticated multi-strategy Expert Advisor that combines Support & Resistance, Pullback, Trend Breakout, and M5 trading into a single automated system. With intelligent automatic position sizing, advanced grid recovery, drawdown protection, customizable trading sessions, and integrated news filtering, it offers exceptional flexibility for traders seeking a comprehensive MT5 solution while maintaining strong risk management and consistent execution.
🔢 FAQs
❓ What strategies are included in Wave Rider EA MT5?
Wave Rider EA MT5 includes Support & Resistance, Pullback, Trend Breakout, and M5 trading strategies, each with its own Magic Number.
❓ Does Wave Rider EA MT5 support automatic lot sizing?
Yes. The EA supports Automatic Position Sizing with predefined risk profiles as well as custom balance scaling and fixed lot trading.
❓ Can I disable individual strategies?
Yes. Each strategy (S01–S04) can be enabled or disabled independently from the input settings.
❓ Does the EA include news protection?
Yes. It features a built-in news filter supporting ForexFactory and the MQL5 Economic Calendar with configurable High Impact event protection.
❓ Is Wave Rider EA MT5 suitable for different account sizes?
Yes. Thanks to automatic lot sizing, adjustable risk levels, configurable grid parameters, and comprehensive drawdown protection, the EA can be adapted to both small and large trading accounts.
User Reviews
Only logged in customers who have purchased this product may leave a review.
❓ What trading strategy does Wave Rider EA MT5 use?
Wave Rider EA MT5 combines seven trading strategies with triple timeframe analysis, entering trades only when trend direction and market structure align.
❓ Can Wave Rider EA MT5 trade without Grid recovery?
Yes. Wave Rider EA MT5 offers a Single Position mode with fixed Stop Loss, Take Profit, and Trailing Stop, making it suitable for conservative traders.
❓ How does Wave Rider EA MT5 confirm market trends?
Wave Rider EA MT5 uses H1 trend analysis with M15 and M30 confirmation, ensuring trades follow the prevailing trend instead of fighting market direction.
❓ What protection features are included in Wave Rider EA MT5?
Wave Rider EA MT5 includes drawdown protection, ATH protection, dynamic exit logic, and advanced news filters to help reduce unnecessary trading risks.
❓ Does Wave Rider EA MT5 include a news filter?
Yes. Wave Rider EA MT5 pauses new entries around major economic events such as CPI, FOMC, and NFP while continuing to manage existing positions.
❓ How does the recovery system work in Wave Rider EA MT5?
Wave Rider EA MT5 activates its intelligent recovery only when needed, using configurable spacing, breakeven logic, and optional trailing without mandatory martingale.
❓ What are the recommended trading conditions for Wave Rider EA MT5?
Wave Rider EA MT5 is designed for XAUUSD with any chart timeframe, a minimum $300 deposit, Hedge accounts, and ECN or RAW spread brokers.
❓ Can I customize risk management in Wave Rider EA MT5?
Yes. Wave Rider EA MT5 supports Fixed Lot, Auto Risk, and Custom Scale position sizing, allowing traders to match risk with their account objectives.
❓ Does Wave Rider EA MT5 provide trading information on the chart?
Yes. Wave Rider EA MT5 includes a NextGen dashboard displaying strategy status, account performance, drawdown, news protection and position sizing details.
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