The Ilan MT4 is a well-known grid and Martingale-based trading robot designed to maximize profit through layered orders, dynamic lot sizing, and flexible money management. Below is a detailed breakdown of the settings shown in the configuration panel.
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⚙️ Main Properties
- Magic Number: 6006 → Unique ID for trade tracking.
- Trade Mode: Allow live trading → EA is enabled for live execution.
- Trade Direction: Both (Buy & Sell) → Operates in both directions, adapting to market swings.
✅ Conclusion: The EA runs automatically with full dual-direction trading capability.
📌 Strategy Properties
- Start Signal: No signal (just trade) → Trades without waiting for a special indicator signal.
- Step (points): 105 → Distance between grid orders.
- Take Profit: 20 points → Closes baskets once profit target is reached.
- Take Profit Mode: From average open price → Uses a grid averaging system for exits.
- Max Spread: 3.0 → Trades only in low-spread conditions, reducing slippage risks.
- Close on Opposite Signal: False → Keeps trades open until grid cycle completes.
- Trailing Stop & Trailing Settings: Disabled (0) → Focused on grid TP rather than trailing exit.
⚡ Insight: The EA is configured as a classic grid system, prioritizing basket TP rather than trailing profits.
💹 Lot Properties
- Start Lot: 0.01 → Conservative entry size.
- Lot Risk Factor: 0.0 → Fixed lot size (not balance-based).
- Lot Coefficient: 2.1 → Martingale multiplier, aggressively increases lot sizes after losses.
⚠️ Note: The 2.1 multiplier means risk can escalate quickly during extended drawdowns.
📊 Risk Properties
- Max Trades in One Direction: 25 → Allows up to 25 layered positions.
- Max Loss of Last Trade (points): 100 → Risk control on individual positions.
- Global Stop Loss: 0.0 (disabled) → No hard stop; relies on grid recovery.
🔒 Conclusion: High risk–reward settings, suitable for aggressive traders.
⏱️ Work Time Properties
- Custom Time Use: False → Runs continuously.
- Trading Days: Sunday to Saturday (00:00–23:59) → Operates 24/7 without restriction.
- Time to Use: Server time → Syncs with broker server clock.
✅ Conclusion: EA is designed for round-the-clock trading with no downtime.
📉 Signal Filters (MA & TraderDream)
- Fast MA (13 EMA) vs Slow MA (36 EMA): Exponential moving averages used as optional filters.
- TraderDream Signal: MA period 2 (Simple) → Extra filter for trend direction.
⚡ Insight: Though the EA primarily runs on grid logic, moving averages add basic trend confirmation.
✅ Final Verdict on Ilan MT4 Settings
The Ilan MT4 configuration shown is set up for aggressive Martingale grid trading with a 2.1 lot multiplier, 25 maximum trades per direction, and small TP targets. It is designed to exploit market pullbacks and mean reversion while running 24/7 trading cycles.
👉 Best suited for traders seeking high-profit potential who can handle large drawdowns. Risk management should be carefully considered, preferably on low-spread pairs like EURUSD with VPS hosting for 24/7 stability.