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PROP GT EA MT4 – Full Input Settings Analysis
PROP GT EA is a prop-specific expert advisor designed meticulously to perform well in prop firm work and provide winning trading outcomes. It is primarily dedicated to the EURUSD currency pair on a 15-minute chart. The EA employs a multi-pronged strategy, blending a breakout scalping strategy with an unconventional controller module. The controller operates diligently in monitoring key aspects of the prop account, including day and maximum drawdown and profit targets.
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Risk Management
- Broker time offset from GMT: +2 – The broker server time is 2 hours more than GMT.
- Type of money management: Risk per transaction – Risk is specified as a percentage per trade.
- Fixed lot: 0.01 – Default size of trade if money management is not enabled.
- Risk per transaction (%): 2.0 – Each trade has a maximum risk of 2% of the account balance.
- Prop Challenge On: false – Prop challenge mode is disabled (can be enabled if needed).
- Prop daily drawdown: 3.0 – Maximum daily loss is 3%.
- Prop maximum drawdown: 10.0 – Maximum overall drawdown is 10%.
- Prop Phase Target %: 10.0 – The overall target profit is 10%. 50.0 – The highest amount of money wagered per trade is 50 units of account base currency.
Set up trading time
- New Year’s Eve halt (20 Dec – 26 Jan): accurate – The EA does not trade during the Christmas and New Year holiday season.
- Begin trade (hour): 5 – The EA starts trading at 5:00 AM (broker time).
- End trade (hour): 18 – The EA ends trading at 6:00 PM (broker time).
Range Filter
- Range filter: true – Enables the range filter mode.
- Average Period: 9 – Takes an average of the price range of the last 9 candles.
- The stop level on the range: 1.0 – The range threshold level used by the EA to decide whether it will enter a trade or not.
Configuration according to Prop Firm criteria
- Prop Challenge On: false – Prop challenge mode is disabled (can be enabled if needed).
- Prop daily drawdown: 3.0 – Maximum daily loss is 3%.
- Prop maximum drawdown: 10.0 – Maximum overall drawdown is 10%.
- Prop Phase Target %: 10.0 – The overall target profit is 10%.
Signal and SL/TP settings
- Custom signals: false – No custom signals are used.
- StopLoss (0 without SL): 25.0 – Fixed stop loss in case dynamic SL is not used.
- TakeProfit (0 without TP): 10.0 – Fixed take profit in case dynamic TP is not used.
- General TakeProfit for multiple orders: true – One common TP is used for multiple orders.
- Use Trailing Stop: true – Trailing stop is enabled to shift SL according to price movement.
- StopLoss distance: 25.0 – Trail stop distance.
- Minimum trailing profit: 2.0 – Trade must be at least 2 units profitable before trailing becomes active.