Logan MT5 EA V2.94 – SetFile | No DLL | Unlimited

What Is Logan MT5?

Logan MT5 is a fully automated XAUUSD (Gold) Expert Advisor built for MetaTrader 5 by developer Thierry Ouellet. According to the vendor’s MQL5 marketplace listing, it operates on the M15 timeframe and is designed for traders who want gold exposure without the constant screen time of manual trading. The EA was launched in mid-2026 and is based on the developer’s own manual trading strategy.

♻️ Vendor Website: Available on the official product page | MQL5
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Logan MT5 Review

Digging into the available live signal data and user feedback on MQL5, the most notable aspect of Logan MT5 is how it handles the grid-recovery concept. Unlike the typical gold grid EA that stacks positions until drawdown spirals out of control, Logan MT5 introduces ATR-based spacing and a soft lot multiplier rather than a fixed martingale sequence. One reviewer on the MQL5 product page reported that the EA survived an 80-point move with only 4% drawdown and three open positions, while the developer noted that the maximum drawdown observed on default settings was approximately 16%, which he stated is within the backtest range.

The live signal tracker for Logan MT5 Medium High Risk shows 64 trades with an 89.06% win rate and a 4.93% maximum deposit load, though the account history spans only about six weeks. A separate TitanFX signal shows 123 trades with an 81.30% win rate. These are short-term records, and the developer is transparent about the grid architecture: there is no fixed per-trade stop loss, and the basket closes together when the profit target is reached.

1. Logan MT5 MQL5 Live Signal Review | Check Live Proof

• Growth: +10%

• Maximum Drawdown: 4.5%

• Profit: $198

• Initial Deposit: $2,000

2. Logan MT5 MQL5 Backtest Overview

Key Features

• Six-Condition Entry Filter: Before opening any trade, the EA evaluates three EMAs across multiple timeframes, ADX trend strength, tick volume, ATR range, spread suitability, and candle momentum. A trade only opens when all conditions align.

• ATR-Based Grid Spacing: Additional entries, when triggered, use adaptive spacing based on the current Average True Range, allowing distance between orders to expand or contract with real market volatility.

• Dynamic Lot Progression: Rather than a hard martingale multiplier, Logan MT5 uses a soft lot progression that the developer states is designed to reduce trailing risk during recovery phases.

• Configurable Daily Drawdown Limit: A user-defined percentage stops new trades for the remainder of the day once realized and floating losses hit the threshold. An optional setting closes all active trades immediately.

• Basket Profit Close: When the combined basket reaches its predefined profit objective, all open positions close simultaneously.

• Spread Protection: The EA avoids trading during poor market conditions by filtering out executions when spreads widen beyond acceptable levels.

• Trading Session Filters: Users can restrict operation to preferred trading hours, which helps avoid low-liquidity periods.

• Raw/ECN Account Optimized: The developer explicitly recommends a RAW or ECN account and advises against cent accounts, noting they tend to be less reliable for this strategy.

Why Should You Buy This?

• Disciplined Entry Approach: The six-condition confirmation filter means most trades close on the initial position without triggering the recovery grid, reducing overtrading and margin consumption.

• Transparent Architecture: The developer does not hide the grid-recovery nature of the EA. The MQL5 listing directly describes the ATR-based spacing and dynamic lot progression, so buyers know exactly what they are getting.

• Built-In Risk Controls: The daily drawdown limit and spread protection give traders a way to cap daily exposure without manually monitoring the EA.

• Documented Entry Methodology: Unlike black-box EAs, Logan MT5’s entry logic is explained step-by-step on the vendor page, which supports informed decision-making.

• Honest Limitation – Grid Risk: This is a grid-recovery system with no per-trade stop loss. When the market moves sharply and persistently against the initial position, floating drawdown can build. The developer acknowledges this and states that the EA is designed to recover, but recovery is not guaranteed.

• Honest Limitation – Short Live History: The public live signals span only about five to twelve weeks. There is no multi-year verified track record to evaluate how the EA performs across different market regimes.

How Logan MT5 Is Different

Most grid EAs in the gold trading space are built around constant entry, aggressively averaging into positions until the market reverses. Logan MT5 takes a different route. According to the vendor’s documentation, it waits for a confluence of six separate market conditions before opening even the first trade. This means the recovery grid engages far less frequently than in typical grid systems. The ATR-based spacing is another differentiator: instead of fixed pip intervals between grid orders, the EA adjusts spacing dynamically based on real-time volatility, which the developer states helps it withstand moves of over 100 points against the position.

Strategy & Logic

Based on the vendor’s MQL5 listing, the trading logic follows a structured sequence:

• Market Scan: The EA analyzes three Exponential Moving Averages (EMAs) across multiple timeframes to determine directional alignment.

• Trend Confirmation: The Average Directional Index (ADX) is used to confirm that trend strength is sufficient for entry.

• Volume Check: Current tick volume is compared against recent market activity to ensure participation is adequate.

• Volatility Filter: The EA checks that market volatility remains within an acceptable ATR range, avoiding both dead and chaotic conditions.

• Spread Verification: The current spread must be suitable for execution before a trade is considered.

• Momentum Confirmation: The current candle must show sufficient directional momentum.

• Entry: A trade opens only when every one of the above conditions is satisfied.

• Recovery Grid (If Needed): If the market moves against the initial position, Logan MT5 adds additional entries using ATR-based spacing. The distance between orders expands or contracts with volatility.

• Basket Close: When the combined basket reaches its profit objective, all open positions close together.

Risk Controls:

• Configurable daily drawdown limit that stops new trades once the threshold is hit

• Optional setting to close all active trades immediately when the limit is reached

• Maximum spread protection

• Trading session filters

Risk Disclaimer: Trading foreign exchange and CFDs carries a high level of risk and may not be suitable for all investors. Grid-based strategies can experience extended floating drawdowns, and past performance – whether vendor-reported or independently tracked – does not guarantee future results. You should only trade with capital you can afford to lose and do your own due diligence before using any automated system.

Optimized Settings Table

How to Install Logan MT5

1. Open MetaTrader 5 and go to Tools → Options → Expert Advisors. Check “Allow WebRequest for listed URL” and add `https://nfs.faireconomy.media` so the news filter functions correctly.

2. In the MQL5 Market, purchase and download Logan MT5 from the product page. It will appear in your terminal’s Navigator panel under Expert Advisors.

3. Open an XAUUSD M15 chart in your MT5 terminal.

4. Drag Logan MT5 from the Navigator onto the chart.

5. In the EA settings window, configure your lot sizing method: choose either fixed lot size or automatic lot sizing based on account balance. Then set your daily drawdown limit and preferred risk level.

6. Enable AutoTrading in the MT5 toolbar. The EA will begin evaluating market conditions and open trades when its entry criteria are met.

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Author Info

Logan MT5 is developed by Thierry Ouellet, a Canadian developer who, according to his MetaTrader profile, spent years manually trading and testing Expert Advisors before building his own automated system. Logan MT5 is his first published product on the MQL5 marketplace. The vendor’s site notes that he is actively working on new features and improvements for the EA. Limited independent information is available about the developer outside of the MQL5 platform and his MetaTrader profile.

Is Logan MT5 Worth It?

Logan MT5 is a well-documented, disciplined take on gold grid trading. The EA’s six-condition entry filter, ATR-based spacing, and configurable drawdown limit set it apart from the typical “stack until it works” grid bot. It is best suited for traders who understand grid-recovery risk, have sufficient capital to absorb floating drawdown, and want an automated gold strategy that trades selectively. If you are looking for a system with a hard stop loss on every trade or a multi-year verified track record, this is not that product. As with any EA, review the vendor’s documentation, test on a demo account, and assess whether the risk profile fits your capital before committing real funds.

Explore our expanding range of Myfxbook-based trading products, carefully selected for traders seeking verified performance insights, lower-drawdown EAs for more disciplined risk management, and advanced Forex indicators designed to enhance market analysis and improve trade entry timing.

👉 Reviewed By – Elmira N