Forex Pro Island EA

Forex Pro Island EA represents an MT4 trading robot for anyone looking forward to automated trading in the forex market. This software is designed to provide traders with accurate signals, allowing them to make informed decisions on when to buy or sell. The EA is easy to use and is suitable for both novice and experienced traders.

This guide explains how the Forex Pro Island EA works in MT4 and summarizes its top features.

Forex Pro Island EA Strategy

The Forex Pro Island EA combines the average true range (ATR) signal with the crossover between 8 and 21 EMA to determine potential buy-sell setups.

Forex Pro Island EA for MT4
Forex Pro Island EA for MT4

The EA sets the stop loss based on the ATR value when you enable the auto SL feature. For example, if the ATR value is 50 pips, the bot can set a stop loss level of 50 pips from their entry point. This helps to limit potential losses if the market moves against them.

Furthermore, in the crossover trading strategy involving 8 and 21-day EMA, the EA determines the market bias and the entry direction based on the crossover mode. For example, the software may trigger a buy entry after the 8 EMA exceeds the 21 EMA plotting a bullish crossover.

Forex Pro Island EA Features

  • Currency pairs: All major forex pairs.
  • Timeframe: M1 – M15.
  • Platform: MetaTrader 4.
  • Customizable trading schedule.
  • Auto trailing stops.
  • Max spread and price slippage protection.
  • Reverse trading strategy.
  • Beginner-friendly.

Forex Pro Island EA MT4 Settings

  • Forbidden Day – Select the day when you want to keep the EA remaining deactivated.
  • First Lot – Initial trading lot.
  • Order Step in Pips – Input the order step value in Pips.
  • Order Step Multiplier – The step multiplier determines the exponential rise of trading lots.
  • Trailing Start in Pips – Determine after how much profit the EA will automatically initiate the trailing stop.
  • Trailing Step in Pips – Input the trailing step value in pips.
  • Trailing Stop in Pips – Fixed trailing stop period.
  • Maximum Orders – Maximum number of orders per day.
  • Spreads – Enable/disable the spread limit feature.
  • Maximum Spreads – The highest spread allowed to execute a trade entry/exit.
  • Slippage – Enable/disable the price slippage limit feature.
  • Maximum Slippage – Maximum price slippage limit in pips.
  • Use Max Profit – Max profit feature increases the trading frequency and keeps the EA more sensitive to price action changes.
  • Deposit Multiplier – An auto increase of trading lots based on additional fund deposits.
  • Magic Number – Set an identification number for the EA.
  • Reverse – Enable/disable the reverse trading strategy.
  • Trading Hour Start – Starting hour of the EA.
  • Trading Hour End – Ending hour of the EA.

Forex Pro Island EA Summary

Forex Pro Island EA can analyze market data in real-time and executes market entries based on its own analysis. The software uses a number of technical indicators to identify market momentums and chart patterns in the market and then generates buy or sell signals accordingly. This strategy allows the EA to take advantage of significant market movements and price volatilities. Besides, Forex Pro Island comes with a user-friendly interface allowing beginners to settle into automated trading quickly. It is easy to install and allows a number of customizable settings, enabling traders to adjust it to their specific trading style and preferences.

Free Forex Robot