Eagle MG EA MT4

Forex mean-reversion grids with configurable exposure

Eagle MG EA MT4 is Gianluca Guarino’s automated mean-reversion grid system for AUDCAD, NZDCAD and GBPNZD. It combines automatic pair settings with fixed-lot or capital-step sizing, grid spacing, limits on the number of trades and an equity-stop setting. H1 is the developer’s preferred chart timeframe.

• Three forex pairs: AUDCAD, NZDCAD and GBPNZD, with Auto Settings for these markets.
• Grid design: separate buy/sell distances, first-position profit target and a grid-level profit target.
• Position sizing: fixed Starting LotSize or balance-based capital steps.
• Exposure controls: maximum buy/sell grid levels, optional close at the level limit and Stop Equity.
• Monitoring: on-chart profit statistics, Magic Number and maximum spread input.

How the grid settings work together

Eagle MG seeks mean reversion rather than following every extended move. Its grid adds positions at the configured buy/sell distance and manages the sequence toward a grid-profit target. This gives several dimensions to test: initial size, spacing, maximum depth and the equity exit all affect how the basket behaves when a move persists.

Double on Stop deserves particular attention. The listing says that after an equity stop, this option doubles the initial size until the loss is recovered. That is a loss-recovery sizing mechanism which raises exposure after a losing event. It should not be treated as a harmless extension of fixed-lot mode, or as assurance that the loss will be recovered.

The source calls the design a light grid and describes a hard stop protecting each grid. Those labels do not make capital safe. Persistent trends, a deep basket or repeated stops can still produce a large loss, especially if the recovery option is active. The useful decision is whether the total exposure and potential repeat losses fit the account.

Published account and chart requirements

Platform

MetaTrader 4; attach the EA to the chart you want it to trade.

Supported pairs

AUDCAD, NZDCAD and GBPNZD. The source describes Auto Settings for these pairs.

Timeframe

The listing allows any chart timeframe and prefers H1.

Starting guidance

At least 3,000 USD according to the developer; review this alongside lot size, active pairs and leverage.

Broker

An ECN account is preferred. Test actual spreads, commission, swaps and execution.

Sizing

Fixed Starting LotSize, or For Every capital-step sizing; the example is 0.01 lots per 1,000 USD.

AUDCAD and NZDCAD share CAD exposure; GBPNZD shares NZD with NZDCAD. Running all three does not guarantee independent risk. Confirm the combined open lot size and free margin when baskets overlap, rather than judging each chart only in isolation.

Inputs that materially change risk

Auto Settings

Applies the developer’s automatic settings on the three supported pairs.

Min Buy/Sell Vertical Distance

Defines spacing between entries in the buy or sell grid.

Profit 1st Position

Sets the profit target for the initial trade.

Min Grid Profit

Sets the basket profit target; a value of zero allows automatic calculation.

Buy/Sell Grid Levels

Limits the number of trades the system can open in the respective grid.

Close on Max Grid Levels Reached

Optionally closes trades when the grid reaches its level limit.

Stop Equity

The percentage or money-value threshold chosen for closing trades.

Double on Stop

Doubles the initial size after an equity stop until recovery, as described by the developer.

A maximum grid level is different from an automatic close at that level: check whether Close on Max Grid Levels Reached is enabled. Likewise, a stop threshold is an instruction to execute, not a guarantee of the exact realised loss. Gaps, spread changes, slippage and terminal interruptions can affect where the positions close.

Original images, public account and customer feedback

These MT4 reports show simulated ticks generated from minute data and a modelling-quality field of n/a. They are not 100%-real-tick tests. The NZDCAD report visibly uses DoubleOnStop=false, so it cannot validate the risk of doubling after a loss. A historical curve on a demo-server data set does not establish what a live broker will achieve.

The reports identify MT4 build 1.3. Later MT4 release notes revise automatic-setting parameters, then add manual-setting inputs and a revised panel in version 1.8 on 11 May 2026. The older reports do not test those later changes.

Developer-linked public account

The ProjectEagle MG public account is labelled real by MQL5 and runs on MT4. Monitoring began on 29 March 2024. The 10 October snapshot showed 132 weeks of account history, 2,278 trades, 153.42% growth and a 1.49 profit factor. Relative drawdown was 25.39% by balance and 63.22% by equity; maximum deposit load reached 72.02%.

The account showed 25,366.45 USD balance and 25,376.69 USD equity, with 24.68 USD added deposits. MQL5 still displayed a warning that a large drawdown could occur again, and its history records major floating losses in 2024. The developer says settings changed in October 2024, so the full account spans earlier rules too. That history should neither be presented as a precise current-build test nor discarded as proof that a future large loss is impossible.

The MQL5 review tab contains ratings without written purchaser comments. A developer reply from May 2026 refers to an October 2024 change and claims that earlier levels of loss cannot recur. That is the author’s claim; it does not establish a future drawdown limit. The capture preserves the distinction between ratings and developer explanations, and no MQL5 stars are imported into CheaperForex ratings.

Compare the developer’s other forex systems

Snow Eagle MT4 lists four pairs including EURGBP and EURCHF. Snow Eagle X MT4 documents a two-pair increasing-lot grid with a money stop scaled to its starting size. Each system has its own inputs and stop behaviour; do not treat a favourable result in one as evidence for the others.

Eagle MG is most relevant to traders who understand basket exposure and want to test the spacing, level cap and equity stop as a complete system. It is unsuitable as a promise of capital protection or automatic loss recovery. Begin with a broker-matched demo and examine open equity as well as closed profits.

Developer sources checked 10 October 2026: MQL5 MT4 listing. Product features and original tests are attributed to Gianluca Guarino.

Free lifetime updates

Standalone delivery with access to your order’s delivery instructions after payment. The instructions explain the delivery and setup steps; DeliveryInformation.txt is an instructions document, not the trading executable. Free lifetime updates and email support are included.