Prop Firm Challenger MT4

Complete Prop Firm broker challenges easily and automatically using our Prop Firm Challenger expert advisor.


Simply attach the EA to a chart and let it do its job.

For the first 5 buyers, the price of the advisor will be only $149.99. Later, the price will increase to $7899.99.

Description:

The Expert Advisor allows you to quickly complete any Prop Firm task with low drawdown and in a very short time. The Expert Advisor uses one of the most popular market-making strategies, opening order grids at key levels and taking profits when a certain profit level is reached.

The Expert Advisor performs well both over the long term and serves as a good tool for quickly building up your deposit when the news cycle is low.


How to use:


1) Attach the expert advisor to any forex/crypto/index pair such as AUD/USD, XAU/USD, BTC/USD or SPX500

2) For Forex pairs, we recommend enabling the news filter to prevent trades before important news releases.

You must allow 'WebRequest' in options and add this link:
http://ec.forexprostools.com/?columns=exc_currency,exc_importance&importance=1,2,3&calType=week&timeZone=15&lang=1
"

3) Optimize your risks for the duration of the challenge.


Requirements:

Currency pair: FOREX (AUDNZD, XAUUSD), INDEXES (SPX500, US30, GER50), CRYPTO (BTC, ETH, SOL).

Timeframe: M5 (works on higher timeframes as well)

Minimum deposit : $100

Account type: ECN, Raw, and any other similar account. 👉Recommended broker forextime.com/?Referral=38370

VPS: Any reliable vps with low ping times and reliable connection to the servers of your broker.


Recommendations:


▪︎ Trade only when there is no important news.
▪︎ On quiet days, risks may be higher than optimal.
▪︎ For small deposits and quick buildups, shorter timeframes such as M1-M15 are recommended.


Settings:

  • Order comment/Order magic number - numerical and text identifier for the EA's orders.
  • Fixed lot/Auto lot size/Initial lot/Per balance - fixed lot, automatic lot calculation mode based on a specified balance amount for the initial lot.
  • Minimum distance between orders in pips - minimum distance between orders in pips.
  • Close all orders at pips profit/Close all orders at pips profit - close all orders when the total profit or loss in pips reaches a certain value.
  • Close all orders at % profit/Close all orders at % loss - close all orders when the total profit or loss reaches a certain percentage.
  • Use martingale - activates martingale. When martingale is enabled, the EA will increase the lot size for each new open grid trade.
  • Lot increase after n orders/Lot multiplier - the value of lot increase after a certain number of orders when martingale is enabled.
  • Minimum pips profit - minimum required profit in pips for a grid to be closed
  • News Filter - If this feature is enabled, it limits the ability of the Expert Advisor to open new orders before and after low/high/medium news releases in minutes.

Recommendations:

Risk is determined not only by the "Money Management" parameter values, but also by the settings specified in "Order Management".

The smaller the distance between orders, the more often the grid will close in profit. However, in special cases (historically, such instances have only occurred twice), the grid can cause a significant drawdown if the parameter "Close all orders at pips loss" is not used or the set risks are to high.


Therefore, it is recommended to use either the standard parameters. And for aggressive trading (say, an M1 chart and a distance between orders of 10 pips), use the  "Close all orders at pips loss" parameter to close orders at a certain drawdown to protect capital.

Be sure to use a news filter for forex pairs. This is the only way to protect yourself from high volatility in financial markets.
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    MQL TOOLS SL
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    Experts
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    Experts
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    4.61 (23)
    Experts
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    Experts
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    Experts
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