SteadyPips EA Review
SteadyPips is a free trend-following Expert Advisor for MetaTrader 4 that uses a proven EMA crossover strategy enhanced with ATR-based risk management.
Strategy Overview
SteadyPips follows a classic trend-following approach:
- Trend Detection: Uses 12-period and 26-period Exponential Moving Averages
- Trend Confirmation: 200 EMA acts as a directional filter
- Volatility Filter: ATR (Average True Range) ensures sufficient market movement
- Dynamic Risk Management: All stop losses and take profits are ATR-based
Entry Conditions
Buy Signal:
- Fast EMA (12) crosses ABOVE Slow EMA (26)
- Price is above the 200 EMA (confirming uptrend)
- ATR is above minimum threshold (market is active)
Sell Signal:
- Fast EMA (12) crosses BELOW Slow EMA (26)
- Price is below the 200 EMA (confirming downtrend)
- ATR is above minimum threshold
Risk Management Features
| Feature | Default | Description |
|---|---|---|
| Risk per trade | 2% | Percentage of account balance |
| Stop Loss | 1.5x ATR | Dynamic, adjusts to volatility |
| Take Profit | 2.0x ATR | Risk:reward ratio of 1:1.33 |
| Trailing Stop | 1.0x ATR | Locks in profits as price moves |
| Max trades | 3 | Prevents overexposure |
| Max daily trades | 5 | Prevents overtrading |
Key Features
- Automatic position sizing — calculates lot size based on your risk percentage
- 5-digit broker compatible — works with all modern brokers including XM
- Trailing stop — automatically moves stop loss to lock in profits
- Daily trade limit — prevents overtrading during choppy markets
- License verification — ensures you’re trading with a supported broker
Recommended Settings
| Parameter | Conservative | Moderate | Aggressive |
|---|---|---|---|
| RiskPercent | 1% | 2% | 3% |
| MaxTrades | 2 | 3 | 5 |
| SL_ATR_Multi | 2.0 | 1.5 | 1.0 |
| TP_ATR_Multi | 2.5 | 2.0 | 1.5 |
Best Pairs and Timeframes
- Recommended Timeframe: H1 (1-hour chart)
- Best Pairs: EUR/USD, GBP/USD, USD/JPY, AUD/USD
- Why: Major pairs offer the best liquidity and tightest spreads, which are essential for trend-following strategies
How to Get Started
Important Disclaimers:
- Past performance is not indicative of future results
- This EA does not guarantee profits
- Always test on a demo account before using real money
- Never trade with money you cannot afford to lose
Affiliate Disclosure: This page contains affiliate links to XM. We receive a commission when you open an account through our links, at no additional cost to you. Full disclosure