About the Prop Firm EA V2 Expert Advisor
Prop Firm EA V2 is a Forex robot for Metatrader 4 that finds interesting trend reversal signals using tops and bottoms with a news filter.
Enjoy low drawdowns and steady growth with the Prop Firm EA.
Experiment with the default stop loss and take profit settings by modifying the input values.
This trading robot can be used with any Forex broker and should perform equally well across all time frames.
As always, please use this EA on a demo account first until you fully understand how it works and how it performs over an extended period of time.
Free Download
Download the “EA_Prop_Firm_V2_Fixed.ex4” expert advisor
Key Features
Trend Reversal Detection
The EA identifies potential trend reversals by analyzing market tops and bottoms, allowing it to capitalize on significant price movements.
News Filter Integration
A built-in news filter prevents the EA from executing trades during high-impact economic events, reducing the risk of adverse market conditions.
Low Drawdown Strategy
Designed to maintain low drawdowns, the EA employs risk management techniques that aim for steady account growth over time.
Customizable Settings
Traders can adjust various parameters, including stop loss, take profit, trailing stop, and risk percentage, to tailor the EA’s performance to their trading preferences.
Multi-Currency Pair Support
Prop Firm EA V2 supports trading on 14 currency pairs, including EUR/USD, GBP/USD, USD/CHF, and NZD/JPY, providing flexibility in market selection.
Trading Results
The Prop Firm EA V2 has demonstrated consistent performance in simulated environments, showcasing its capability to navigate the challenges of prop firm evaluations.
While specific results are not available, user testimonials and reviews indicate positive outcomes when the EA is properly configured and monitored.
Trading Chart
The picture below shows the Prop Firm EA V2 expert advisor attached to the EUR/USD 1-hour chart.
How the EA Works
- Analyzes market tops and bottoms to identify potential trend reversals.
- Utilizes a news filter to avoid trading during high-impact economic events.
- Employs risk management strategies to maintain low drawdowns.
- Allows customization of trading parameters to suit individual preferences.
- Supports trading on multiple currency pairs simultaneously.
Download Now
Download the “EA_Prop_Firm_V2_Fixed.ex4” EA
Parameters & Settings
- Magic Number: Unique identifier for each trade.
- Risk Percentage: Percentage of account equity to risk per trade.
- Stop Loss: Maximum allowable loss per trade.
- Take Profit: Target profit level per trade.
- Trailing Stop: A Dynamic stop loss that moves with the price to lock in profits.
- News Filter: Enable or disable trading during high-impact news events.
Recommended Trading Setup
- Broker with low spreads and fast execution.
- Minimum account balance of $500.
- Use on 1-hour or 4-hour timeframes for optimal performance.
- Test on a demo account before going live to understand EA behavior.
- Regularly monitor the EA’s performance and adjust settings as needed.
FAQ
Is Prop Firm EA V2 suitable for beginners?
Yes, the EA is designed to be user-friendly. However, it’s recommended to test it on a demo account and familiarize yourself with its settings before live trading.
Which currency pairs are supported?
Prop Firm EA V2 supports 14 currency pairs, including major and minor pairs like EUR/USD, GBP/USD, USD/CHF, and NZD/JPY.
Can I use this EA with any broker?
The EA is compatible with any broker that supports MetaTrader 4. Ensure your broker offers low spreads and fast execution for optimal performance.
Does the EA require constant monitoring?
While the EA is automated, it’s advisable to monitor its performance periodically and make adjustments as necessary to ensure it aligns with your trading goals.
Can I modify the EA’s settings?
Yes, the EA’s parameters are customizable. You can adjust settings like risk percentage, stop loss, take profit, and trailing stop to suit your trading preferences.
Summary
Prop Firm EA V2 is a robust automated trading solution designed to assist traders in passing prop firm challenges.
With its trend reversal strategy, news filter, and customizable settings, it offers a comprehensive approach to automated trading.
By following the recommended setup and regularly monitoring its performance, traders can leverage the EA to achieve consistent results in prop firm evaluations.
