Bird EA – An In-Depth Review
The Bird EA is an expert advisor (trading robot) for the MetaTrader 4 and 5 platforms, designed for automated forex and cryptocurrency trading. It was created by developer Yvan Musatov and analyzes the market using a proprietary algorithm to identify trading opportunities.
Some key features of Bird EA include:
- Analyzes price action and momentum to detect trend reversals
- Uses a multi-timeframe analysis to improve trade entry and exit timing
- Implements advanced money management to control risk
- Works on any currency pair and timeframe
- Has been optimized and backtested for reliability
How Bird EA Works
Bird EA is based on detecting trend reversals by analyzing the current market momentum compared to historical data. It calculates the strength and amplitude of price moves to determine when a trend is losing momentum and likely to reverse.
Specifically, the algorithm identifies reversal setups using the following criteria:
- Price breaking key support/resistance levels
- Divergence between price and oscillator indicators like RSI
- Pattern analysis of candlestick charts
- Volume changes indicating shifting market participation
When the software determines a trend reversal is imminent, it will close any open trades in the direction of the ending trend and look to enter a new position in line with the emerging trend.
In terms of trade management, Bird EA uses fixed and dynamic take profit levels based on the market conditions. It trail stops losses to lock in profits as trades move in the anticipated direction. If a trade reaches its profit target or stop loss, it will close out automatically.
The risk management system is optimized to preserve capital and prevent large drawdowns. It controls position sizing based on account balance, and limits total exposure using principles like the 2% rule.
Performance Metrics & Backtesting
According to the developer, Bird EA was backtested over a 7 year period on EURUSD using default settings, with impressive results:
- 99.9% modeling quality
- Over 440% cumulative profit
- Maximum drawdown under 30%
- Profit factor over 2.0
These metrics indicate Bird EA has solid risk-adjusted returns over long-term market cycles. However, past performance does not guarantee future results.
The developer recommends a minimum account balance of $1000 to use Bird EA safely, but ideally $3000+ to avoid margin calls during drawdowns and use appropriate position sizing.
Using Bird EA
Bird EA is simple to set up and use. After purchasing, clients receive files to install the expert advisor on MetaTrader 4 or 5. Then it’s a matter of attaching Bird EA to a currency chart and configuring the basic input settings like trade size and risk limits.
The default parameters are optimized for EURUSD on the H1 timeframe, but Bird EA can trade any forex pair or cryptocurrency market on timeframes from M1 to D1. It can run analysis and place trades automatically 24/7.
While Bird EA is designed to be “set and forget”, traders should monitor performance periodically and be prepared to intervene if markets become extremely volatile. Using a virtual private server (VPS) ensures uninterrupted trading.
Pros & Cons
Pros
- Proven strategy with long track record
- Works on any timeframe/market
- Advanced but easy to use
- Low drawdown relative to profits
Cons
- Requires sizable account to manage risk
- Long term gains over years
- Potential losses during volatility
- Requires monitoring for best results
Conclusion
For traders looking for an automated solution with reliability, Bird EA for MT4 is a solid choice based on public backtests. It implements proven concepts of trend and reversal trading augmented by machine learning algorithms. With disciplined money management built-in, Bird EA can potentially grow accounts substantially over time. As with any EA, traders should use proper capitalization, monitor performance, and combine Bird EA with manual trading for best results.
