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Challenger EA is a fully automated MT4 expert advisor that looks for pullbacks within a larger trend and can add to positions with a distance filter. It offers fixed or risk-based lot sizing, spread limits and basket close levels.
Get one message the moment it launches, with its price.
Challenger EA is a fully automated expert advisor for MetaTrader 4. It looks for pullbacks inside a prevailing trend, waits for signs that the pullback is ending, and then enters in the direction of the larger move. It can run with a single order per symbol or build a small basket of orders, depending on how you set it up.
The EA first identifies a main trend. It then waits for a medium-term move against that trend to become stretched at overbought or oversold levels. Before it opens a trade, it checks that the medium-term move is turning back, using its built-in indicator filters. A take profit can be attached to the order or left off.
If Max Orders is set to 1, each symbol holds one trade, protected by the stop loss and take profit you choose. If you allow more orders, the EA disables the stop loss on the first trade and may add further trades in the same direction while the first is losing. It does not add trades purely because price moved a set distance. It also needs a fresh entry signal, and the Min Distance setting must have been reached first. The take profit on the first order is cleared once a second order is opened.
The EA checks floating profit and loss on every tick. When the amount you set in Profit To Close or Loss To Close is reached, it closes all of that symbol's orders. The developer cautions against very small Loss To Close values, because the recovery logic relies on having room to work.
The EA is designed for forex pairs. The developer suggests specific combinations, mostly on M15 and H1, for pairs including:
Each pair has its own suggested lot type, such as no martingale or lot multiplier, so check the settings against the pair and timeframe you plan to use. Combinations that are not suggested are best avoided.
Exact defaults can change, so open the inputs tab and review each value before going live.
| Setting | Purpose |
|---|---|
| Take Profit and Stop Loss (pips) | Levels for the first order |
| Fixed Lot Size | Used when the risk value is 0 |
| Risk | Lot size based on free margin; 0.01 means 1 percent |
| Max Spread | Blocks entries when the spread is too wide; 0 turns it off |
| Max Orders | Orders per symbol; 1 means no multiple orders, 0 means unlimited |
| Min Distance in Orders | Minimum pips between entries; 0 turns it off |
| Lot Martingale Type | No martingale, lot multiplier or lot addition |
| Max Lot | Upper limit on any order's size when using risk-based lots |
| Profit To Close / Loss To Close | Basket close levels in account currency |
| Magic Number and Order Comment | Identify the EA's trades |
Adding to losing positions can turn a small loss into a large one if the market keeps moving against you. Lot multiplier and lot addition increase that exposure further. Set a Max Lot value, keep the number of orders modest, and check the worst drawdown in the strategy tester before using real money.
Trading carries risk, and you can lose part or all of your capital. Past results, including backtests, do not predict future results. Test on a demo account first and only trade with money you can afford to lose.
Run it on a VPS with low latency to your broker if you want continuous operation.
| Product type | Expert Advisor |
|---|---|
| Platform | MetaTrader 4 |
| Strategy focus | Scalping, Trend |
| Delivery | Download from your account after purchase |
| License key | Not needed |
| Status | Launching soon |
| Category | Expert advisor (fully automated) |
| Trade style | Medium-term scalping, trend pullback, optional averaging |
| Markets | Major and cross forex pairs such as AUDUSD, GBPUSD, USDJPY, EURCHF |
| Timeframes | M15 and H1, depending on the pair |
| Broker type | ECN or standard, any digits |
| Hosting | VPS with low latency to the broker is advised |
| Lot modes | No martingale, lot multiplier, lot addition |
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No. This listing is for MetaTrader 4 only. It will not load in MT5, which uses a different program format. Check that your broker offers MT4 before buying.
The developer states that ECN and standard accounts both work, with any number of digits. A reliable connection and a low spread matter more than the account label. Use the Max Spread setting to avoid entries when spreads widen.
It depends on your broker's minimum lot and on the risk or lot settings you choose. The developer gives a rough guide of about 1,000 USD for 0.01 lot when the minimum lot is 0.01, and much more if the minimum lot is 0.10. Treat that as a starting point and test in the strategy tester first.
The developer recommends specific pair, timeframe and lot-type combinations, mostly on M15 and H1 for major and cross pairs. Some pairs are suggested with no martingale only, others with a lot multiplier. Run your own tests on your broker's data before choosing.
Multiplying lots increases exposure quickly when trades go against you and can lead to large drawdowns. It is especially awkward on brokers with a 0.1 lot step. Use the Max Lot setting and test carefully, or choose the no martingale option.
A VPS is advised because the EA checks profit and loss on every tick and needs a steady connection. Pick one with low ping to your broker's server.
Challenger EA
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