Butterfly FX
- Experts
-
Michael Prescott Burney
I am a professional trader and Expert Advisor developer focused on building high-performance, risk-driven systems for MetaTrader 5. - Version: 50.0
- Updated: 26 June 2026
Butterfly Portfolio for EURGBP H1
Butterfly Portfolio is a professional MetaTrader 5 Expert Advisor for EURGBP on the H1 timeframe, built on the Expert Advisor HQ universal portfolio framework.
It is designed for structured, transparent automated trading on EURGBP H1, providing clear on-chart insight into entries, exits, protections, and live performance so you can supervise how the EA is behaving in real time.
Overview
Butterfly Portfolio applies a portfolio-style strategy model to EURGBP and delegates execution and risk handling to the Expert Advisor HQ engine. The aim is that every trade passes through a controlled pipeline: signal generation, filtering by protections, order execution, and continuous monitoring until the position is fully closed.
The framework supplies layered entry, daily, and account protections, broker-aware order handling, a retry mechanism for transient execution issues, an optional news filter, and a live analytics dashboard. Together, these components create a disciplined operating environment for H1 trading on EURGBP.
Recommended Market
Symbol: EURGBP
Timeframe: H1
This EA is intended specifically for the EURGBP chart on the H1 timeframe. Running it on other symbols or timeframes is not recommended and may lead to behaviour and performance that differ from the validated configuration.
How the EA works
On every tick, Butterfly Portfolio maintains protection status and updates lightweight dashboard metrics, checking whether any blocking limits have been reached. At each new bar, it performs a full analytics refresh, checks that the chart is inside the configured trading session, requests signals from the strategy logic, filters them through all enabled protections, and forwards eligible orders to the execution module.
Before an order is placed, the EA can consider spread constraints, the maximum number of allowed open trades, total open lots, daily loss and drawdown protections, account-level equity protections, and the state of the news filter. If any check fails, the trade is cancelled and the reason can be traced in the terminal journal, so you can understand why a position did not open.
Protection and execution features
Butterfly Portfolio uses a three-layer protection system. Entry protections control new positions based on spread, open trade count, and overall lot exposure. Daily protections can flatten positions and suspend further entries after hitting configured daily loss or daily drawdown limits. Account protections can close positions and detach the EA from the chart after a critical equity event, giving you time to review conditions before re‑attaching.
The execution engine is designed to handle different broker environments. Orders are pre-validated, and the EA can automatically select an appropriate fill mode supported by the broker. A bounded retry loop covers temporary issues such as requotes, price changes, timeouts, or short connectivity interruptions, aiming to stabilise order placement without requiring continuous manual intervention.
News filter
When enabled, the news filter can pause new entries around selected medium- and high-impact events. This mode is useful if you prefer the strategy to stand aside during scheduled macroeconomic releases that may affect EURGBP volatility and spreads on the H1 timeframe.
Trade management
Positions are managed using a structured signal definition. Each signal specifies direction, entry or exit type, stop loss and take profit distances, trailing configuration, and whether an opposite signal should close and reverse an existing trade. Stop loss and take profit prices are derived from current market prices and can be widened automatically when broker stop-level rules require a minimum distance.
When trailing is active, the EA can adjust stops using a bar-based technique that follows the previous bar’s high or low. The trailing stop moves only to secure profit and never backwards, helping preserve gains while allowing EURGBP H1 price action to develop.
Dashboard and chart tools
Butterfly Portfolio includes the full EAHQ real-time analytics dashboard. The panel can show equity and balance, floating profit and loss, the number and volume of open trades, a rolling equity curve with current drawdown from peak, recent performance windows, and a strategy breakdown for open positions.
On the chart, the EA can draw entry signal arrows and live trade projection overlays that indicate entry price, stop loss area, and take profit area. These visual tools are designed to make the EA’s decisions easy to read and to support active supervision during live trading.
Inputs and configuration
The EA uses the standard Expert Advisor HQ portfolio input layout. Core inputs include fixed lot size and a base magic number, followed by grouped sections for entry protections, daily protections, account protections, news filter options, statistics, and visual preferences.
This familiar structure makes configuration straightforward if you already work with other products in the Expert Advisor HQ portfolio line. You can apply the same operating workflow to Butterfly Portfolio with minor adjustments for the EURGBP H1 environment.
Usage notes
For correct operation, attach the EA to the EURGBP H1 chart, make sure algorithmic trading is enabled in platform settings and on the toolbar, and assign a unique magic number if you run multiple EAs on the same trading account. It is good practice to configure protection thresholds deliberately, avoid changing the magic number while trades are open, and use a VPS to keep the terminal running reliably 24/5.
As with any automated system, it is recommended to test Butterfly Portfolio on a demo account before trading live capital. Observing its behaviour across different sessions, spread conditions, and news environments on EURGBP will help you refine configuration and risk settings for your broker and trading style.
Who it is for
This EA is suited to traders who want an automated EURGBP H1 portfolio system that balances structured strategy logic with a robust execution and protection framework. It is particularly suitable for traders who prefer clear chart feedback, explicit risk controls, and a built‑in analytics dashboard rather than operating an opaque black‑box EA.
Support and updates
Customers receive developer support via the MQL5 product page, and updates are delivered through the standard Market update mechanism. Butterfly Portfolio is part of the Expert Advisor HQ portfolio family, which follows an ongoing maintenance and compatibility process as the MetaTrader 5 platform evolves.
Risk disclosure
Trading forex and other leveraged instruments involves substantial risk of loss. Automated systems face the same market risks as manual trading, and past performance in backtests or live accounts does not guarantee future results. Always configure risk in line with your tolerance and never trade with funds you cannot afford to lose.
