PROP FIRM EA v1.11 - The Forex Geek (2024)

Author: The Forex Geek | Published: May 6, 2023

The PROP FIRM EA v1.11 is an automated trading system that is designed to execute trades in the forex market. This EA works on 25 major currency pairs and has several features such as non-martingale strategy, and spread control. In this article, we will review the PROP FIRM EA v1.11 strategy, features, and settings. By the end of this review, you will be able to decide whether this EA is suitable for your trading style and goals.

PROP FIRM EA v1.11 Strategy

The PROP FIRM EA v1.11 is a fully automatic trading robot that uses a combination of top bottom reverse trading strategy, grid, Moving Average indicator, and a news filter to execute trades in the forex market. It is designed to trade on 25 different currency pairs, including major, minor, and exotic pairs. The EA works by analyzing the market with the help of its MA indicators and placing trades based on the signals generated.

The top-bottom reverse trading strategy involves identifying market tops and bottoms and entering trades at these points. It is based on the idea that markets tend to reverse direction after reaching a high or a low. The strategy also involves the use of grid trading, which opens multiple positions in a grid pattern to maximize profits.

The PROP FIRM EA v1.11 is designed for the MetaTrader 4 & 5 (MT4/5) platform and is optimized for use on the M15 timeframe. It also uses fixed lot sizes. The EA also includes a news filter that can be used to avoid trading on days with major economic events.

One weakness of the top-bottom reverse trading strategy is that it relies heavily on accurate market timing. If the market does not reverse as expected, the EA may enter trades at unfavorable prices and generate losses. Additionally, the use of a grid strategy can lead to a large number of open trades, increasing the risk of drawdowns and potential losses.

PROP FIRM EA v1.11 is worth considering for traders who are okay with top bottom reversal strategy. The EA is also worth considering for both personal and forex prop firm accounts, and for experienced traders with a medium to high-risk tolerance. Traders interested in using the PROP FIRM EA v1.11 are advised to first test it on a demo account to assess its performance and apply good risk management settings.

PROP FIRM EA v1.11 Features

• Top bottom reverse trading strategy along with grid, internal smart indicator signals and news filter
• Works on 25 currency pairs, including majors, crosses, and precious metals
• Compatible with MetaTrader 4 and 5 platforms
• Fully automated with quick and easy setup process
• 100% Non-Martingale strategy
• Dynamic risk management system with stop loss and take profit levels
• Spread control to avoid volatile markets
• Option to close orders based on pips profit, percentage loss, or specific profit level
• News filter to avoid trading during major market events

PROP FIRM EA v1.11 Settings

• MA_Otstup2: sets the distance between the moving average and the price
• Boundary: sets the maximum and minimum levels for the trading range
• TF: sets the timeframe for the EA to operate on
• Lenthe: sets the distance between the grid levels
• StopLoss: sets the stop loss level for each trade
• TakeProfit: sets the take profit level for each trade
• UseGrid: enables or disables the grid trading feature
• GridPips: sets the distance between the grid levels
• Slippage: sets the maximum allowed slippage for trade execution
• MagicNumber: assigns a unique identifier to the EA’s trades
• MaxOpenOrders: sets the maximum number of open orders at any given time
• UseCloseAtPipsProfit: enables or disables the feature to close orders based on pips profit
• PipsProfit: sets the minimum amount of pips profit required to close an order
• CloseAtProfits: sets the desired profit level to close an order
• UseCloseAtProfits: enables or disables the feature to close orders based on a specific profit level
• Profit: sets the minimum profit required to close an order
• UseClosePercentLoss: enables or disables the feature to close orders based on percentage loss
• PercentLoss: sets the maximum allowed percentage loss for each trade
• FixedLots: sets the lot size for each trade
• EnableTimer: enables or disables the timer feature to avoid trading during certain times of the day
• CloseFriday: enables or disables the feature to close orders on Fridays
• AvoidNews: enables or disables the news filter feature to avoid trading during major market events
• TimeDo, UTimePosle, and Uoffset: sets the time zone for the EA to operate in
• High, VMedium, and VLow: sets the volatility levels for the EA to operate in
• MaxSpread: sets the maximum allowable spread for trade execution
• SpreadAlert: sets the alert level for when the spread exceeds the maximum allowable spread.

PROP FIRM EA v1.11 Summary

The PROP FIRM EA v1.11 is an automated trading system designed to execute trades based on top bottom reversal, grid, moving average indicator, and a news filter. It works on 25 major currency pairs on the MetaTrader 4 & 5 platform (MT4/5). The EA can be used by both personal account and funding firms account traders.

The top bottom reversal strategy will not be suitable for all market conditions or all currency pairs. This means that the trader may need to constantly adjust their trading parameters to adapt to changing market conditions, which can be challenging. Since the strategy involves trading against the trend, there is a risk of large drawdowns if the market continues to move against the trader.

The PROP FIRM EA v1.11 is worth considering for traders that want to diversify their portfolios with a prop firm expert advisor. It is recommended to demo test the EA and apply good risk management settings before using it in a live account.