IS PURPLE EA MT4 V1.1 with Setfiles

What is IS Purple EA MT4?

IS Purple EA MT4 is a MetaTrader 4 automated trading robot designed with simplified settings and an Auto Lot feature for hands-free forex trading. In backtests, it achieved +1.76M% gain over 5 years with only 1.52% maximum drawdown, though these results require careful interpretation given the testing methodology.

Key Takeaway

• Overview: Short-term M1/M5 scalping EA with configurable risk management, preset files for different instruments, and automated position sizing based on account balance

• Trading Strategy: Ultra-short timeframe scalping approach targeting small pip movements on GBPUSD and XAUUSD, with configurable trading windows and order management parameters like PipsStep (26) and OpenTime settings

• Key Benefits with Trade-offs:

• Auto Lot feature manages position sizing automatically, but requires users to understand risk percentage implications
• Simplified settings make setup easier, though strategy effectiveness depends heavily on broker execution quality
• 24/7 automation reduces emotional trading, but M1 scalping is highly sensitive to spreads and slippage

• Performance Data: Backtests show 16.57% monthly gains with 1.52% drawdown, but one test explicitly states “Control Points method – results must not be considered” raising reliability concerns

• Primary Risks: Strategy depends on excellent broker execution, requires careful parameter optimization, and backtest over-optimization may not translate to live performance

Recommendations for IS Purple EA MT4

• Trading Platform: MetaTrader 4 (MT4) exclusively
• Pairs: XAUUSD (Gold) and GBPUSD primarily – Gold requires careful spread monitoring due to volatility
• Supported Accounts: ECN or low-spread accounts strongly recommended for scalping effectiveness
• Timeframe: M1 and M5 – extremely short-term execution dependent on broker speed
• Trading Time: Configurable via TimeStart/TimeEnd parameters based on market sessions
• Leverage: Recommended 1:200 or higher – Higher leverage significantly amplifies both potential profits and losses
• Minimum Deposit: $100 minimum – Higher balance advisable for better risk distribution with aggressive scalping strategy

IS Purple EA MT4 Review

IS Purple EA MT4 offers impressive backtest results with automated scalping, but reliability concerns exist due to mixed testing methodologies and extreme short-term strategy requirements.

Backtest Highlights:
• +1.76M% gain (2018-2023) with 1.52% drawdown – Every Tick model

• +742,198% alternative backtest with 1.55% drawdown

• Live GBPUSD trades: 1-2 minute durations, 2.1-9.5 pip targets

• XAUUSD backtest: 6.16 profit factor, but Control Points method disclaimer

Why Choose IS Purple EA MT4

• Simplified Setup Process: Preset files for different risk levels and instruments reduce configuration complexity, though users must still understand each parameter’s impact on performance

• Automated Risk Management: Auto Lot feature adjusts position sizing based on account balance, but requires understanding of risk percentage calculations to avoid over-exposure

• Specialized Short-term Strategy: Targets small, frequent gains on M1/M5 timeframes with specific XAUUSD and GBPUSD optimization, though success depends heavily on broker execution quality

• Comprehensive Parameter Control: Extensive customization options for trading windows, risk levels, and order management, but parameter sensitivity means changes can significantly impact results

• Proven Backtest Performance: Multiple tests show consistent profitability patterns, though mixed testing methodologies and extreme results suggest careful validation needed

Conclusion

IS Purple EA MT4 shows strong backtest performance through automated scalping but requires excellent broker conditions and careful parameter management. Best suited for experienced traders comfortable with high-frequency strategies and associated execution risks.

IS PURPLE EA MT4 Download Packages:

• Link download experts:
  • IS PURPLE EA MT4.ex4
• Presets:
  • GOLD_M1_$100_LOW RISK.set
  • GOLD_M1_$500_LOW RISK.set
  • GOLD_M1_$1000_LOW RISK.set
  • GOLD_M1_$2000_LOW RISK.set
  • Purple_Gold_M5.set
  • Purple_GBPUSD_M5.set

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