TheTradeMachine.com is happy to announce the launching of the new Cowabunga Expert Advisor based from the Cowabunga System by PipSurfer as published on Babypips.com.

We’ve decided to put the Cowabunga trading system to the test by coding an EA. You can download your own copy with user manual below!

Free Expert Advisor

We are offering the Cowabunga Expert Advisor for free! Click below to download:

The Cowabunga Expert Advisor is free, but we appreciate any donations to keep us up and running. The more support you give us, the more support you will get back with new free expert advisors and additional features. Any amount is appreciated. Happy Trading!

Download CowabungaEA-by-TheTradeMachine-1.1  (see update)

Download CowabungaEA-by-TheTradeMachine-1.0

Download CowabungaEA-by-TheTradeMachine-1.0 User Manual

Stay tuned for future updates as we will be backtesting and forward testing this system to see how it does long term.

View our live forward test as the trades happen every day: Cowabunga Live Results

If you are new to Expert Advisors, you will want to download Metatrader 4 Trading Terminal for free and read our article on How To Set Up Expert Advisors.

Cowabunga EA Indicators

The following is a list of the indicators used in creating the CowabungaEA. You do not have to do anything with these. All of these indicators come with Metatrader 4.

4 Hour Chart Settings
1. 5 EMA applied to the close
2. 10 EMA applied to the close
3. Stochastic (10,3,3) (Use slow and simple settings)
4. RSI (9) (Simple)

15 Min Chart Settings
1. 5 EMA applied to the close
2. 10 EMA applied to the close
3. Stochastic (10,3,3) (Use slow and simple settings)
4. RSI (9) (Simple)
5. MACD (12,26,9) (Exponential histogram)- Make sure the histogram displays the difference between the 2 lines (NOTE: MT4 Indicator OsMA is used here)

Cowabunga EA Features

4 Hour Trend: CowabungaEA-by-TheTradeMachine uses the 4 hour chart to determine the underlying trend. The current trend is automatically found when you load the EA and is power failure safe (meaning it can recalculate the current trend if there happens to be an internet or power failure). Trades are only placed in the direction of the 4 hour trend based on the original system rules:

Main Trend Is Long
1. 5 EMA must cross above the 10 EMA
2. RSI must be greater than 50
3. Stochastic must be headed up and not in overbought territory

Main Trend Is Short
1. 5 EMA must cross below the 10 EMA
2. RSI must be less than 50
3. Stochastic must be headed down and not in oversold territory

15 Minute Chart Entry: Entries are based on the original system rules.

15 Min Chart – Enter Long Trades When
1. 5 EMA must cross above the 10 EMA
2. RSI must be greater than 50
3. Stochastic must be headed up and not in overbought territory
4. MACD histogram must go from negative to positive OR be negative and start to increase value. (We want to catch trends early so the MACD histogram must be negative)

15 Min Chart – Enter Short Trades When
1. 5 EMA must cross below the 10 EMA
2. RSI must be less than 50
3. Stochastic must be headed down and not in oversold territory
4. MACD histogram must go from positive to negative OR be positive and start to decrease in value. (We want to catch trends early so the MACD histogram must be positive)

Stop Losses: Stop losses are calculated based on the most recent swing high or swing low.

Exits & Take Profits: The closest 50 and 00 levels are used for take profits. If the closest 50 or 00 level is too close, you can choose a setting that will automatically set your take profit equal to the amount of pips you are risking for your stop loss. You can also choose a minimum take profit value in pips.

News: You can choose to not trade specific news events by entering the time period of the event that you wish to avoid trading. There are three sets of time inputs so that you can avoid up to 3 news events per day.

Trading Hours: Enter the time you want to start and end trading (based on your server’s GMT time).

Auto Close Orders at Trading Session End: Enter true/false based on whether you want the EA to automatically close any open orders at the end of your trading session. If you select true, it will close orders regardless of your trade being positive or negative at the time.

Magic Number: MagicNumber lets you select a unique integer identifier to distinguish orders apart from other Expert Advisors or multiple instances of the CowabungaEA.

Choose Not To Trade If Stop Is Too Big: Enter true/false based on whether you want to enter trades when the swing high/low is larger than your MaxStop value.

This setting lets you opt out of trading if the swing high/low is beyond your maximum stop loss. You may not want to enter the trade if the stop loss can’t be placed behind the most recent swing high/low while still remaining within your MaxStop limits.

If you select False, you will not take these trades with stop losses in excess of your MaxStop.

If you select True, your stop loss will equal your MaxStop in situations when the swing high/low is too far away.

Changeable EMA Periods: Let’s you change any of the exponential moving average periods to a different one.

Much More Inside! Download the user manual and EA above and give it a try. If you have any questions, shoot us an email or leave a comment below. And stay tuned for future updates!

Custom Expert Advisors

Do you have a trading system that you would like to make into an expert advisor, but don’t have the time to learn how to program it? The Trade Machine can build a full-featured trading system just for you, starting as low as $179!

For more information, visit our Custom Expert Advisor Section

Terms and Conditions

Please read before using the CowabungaEA-by-TheTradeMachine or any of our products or services. By requesting our services and using our software you agree to be bound by these terms and conditions.

Risks and Disclaimers
Forex trading (Currency Trading) carries substantial risk of loss. Please consider your risk tolerance, bankroll and trading abilities before trading real money on the Forex market. Please understand that you can lose some or all of your investment.

While The Trade Machine goes to great lengths to code auto trading programs that are accurate and profitable, we cannot guarantee the profitability or accuracy of any expert advisor.

It is recommended that you thoroughly backtest any expert advisor, as well as forward trade it on a demo account for several weeks before using it on a live account. Please note that actual trading results may not correspond to optimized or backtested results.

All software is to be used at your own risk. TheTradeMachine.com cannot be held liable for any financial losses incurred through the use of our software. You are solely responsible for your trading activities!

Expert Advisor Copyright
Unless otherwise specified all software and source code is for personal use only and may not be resold or publically redistributed without prior agreement.