Shater EA – A tool for disciplined traders seeking systematic exposure to Forex markets.

Greetings, fellow Forex traders!

We present to you the Shater Multi-Currency Expert Advisor (EA) – an indicator-based grid trading system with customizable parameters, robust backtesting results, and verified independent monitoring performance. In this review, we’ll explore its features, analyze test results, and provide practical recommendations for optimal use.

Key Features

Platform: MetaTrader 4
EA Version: 3.0
Currency Pairs: AUDUSD, EURCHF, GBPUSD
Timeframe: H1
Trading Hours: 24/7
Recommended Brokers: RoboForex, IcMarket

Installation Guide

Attach the EA to your MT4 chart as usual.
In the settings window, click “Load” to import a pre-configured .set file (included in the EA archive).
Select your desired .set file and confirm.

For new traders unfamiliar with Forex EAs, we recommend reviewing foundational resources like the “Automated Forex Trading” course.

Important: Shater employs a grid-averaging strategy. Strict adherence to money management principles is crucial.

Trading Strategy

Shater operates on a grid-averaging strategy combined with standard MetaTrader 4 indicators (primarily multiple ATR indicators). Key mechanics:

Entry Point: Identifies optimal entries using ATR-based signals.
Grid Construction: Opens subsequent orders at predefined intervals (default: 150 pips on 5-digit quotes) during drawdowns.
Profit Closure: Closes the entire grid when collective profit targets are met, leveraging market volatility.

Customizable Parameters:

Grid spacing (“geometry”)
Lot sizing (fixed or dynamic)
ATR optimization

Risk Warning: Grid strategies inherently carry high risk. Use proper risk management!

Backtesting Results

Tests conducted separately per pair (MT4 limitations):

Pair	Period	Result
AUDUSD	01/01/2019 – 10/05/2024
EURCHF	01/01/2019 – 10/05/2024	Acceptable Profit
GBPUSD	01/01/2019 – 10/05/2024	Acceptable Profit

Shutter Portfolio from EA Analizer

Portfolio Analysis (via EA Analyzer):

Combined portfolio shows consistent growth post-April 2020.
Full backtest files available in the forum thread linked below.

Live Monitoring Performance

Platforms: Myfxbook

Active monitoring accounts demonstrate stable returns, with occasional pauses for technical adjustments.
Current Pairs: AUDUSD, GBPUSD

Yearly Performance:

2022–2024: Peak efficiency during summer and year-end periods.

Profitability by Pair:

GBPUSD: Highest returns
AUDUSD: Most consistent
EURCHF: Minimal profitability

Parameter Overview (v3.0)

Key settings for advanced customization:

Category	Parameters
Trade Execution	Magic number, spread filter, trading days/hours, forced closure timers
Grid Configuration	Order spacing (`Arrangement_of_trades`), max open orders (`OpenOrdersLimit`)
Risk Management	Stop-loss per order (`SingleOrderSL`), max drawdown threshold
Lot Sizing	Fixed/dynamic lots, profit targets (`Auto_Target_Profit`)
ATR Optimization	Filtering levels, period adjustments

Note: Always test configurations in MT4’s Strategy Tester before live deployment.

Critical Recommendations

Risk Management: Use conservative lot sizes and leverage.
Pair Selection: Prioritize GBPUSD and AUDUSD.
Monitoring: Regularly review drawdowns and adjust settings during high volatility.
Education: Study grid/martingale strategies to fully understand risks.

Shutter 3 free download