Leprechaun EA MT4 Unlimited
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What is Leprechaun EA?
Leprechaun EA is an automated forex trading tool that leverages the power of ZigZag and Fractals indicators to identify key support and resistance levels. This Expert Advisor (EA) places pending orders at these levels and uses trailing stops to maximize profits from price breakouts. Leprechaun EA is the ideal solution for traders looking to take advantage of market impulses.
🔶 Vendor Website: View here
About the Author
This product is compiled by Aleksandr Somov. This Russia author has more than +5 years of experience working on MQL5 with many famous products such as Leprechaun EA MT4, Leprechaun EA MT5, Trend Market EA MT4 and other advisors. Among them, Leprechaun EA is his best performing products.
Leprechaun EA Review
Key Features of Leprechaun EA for MT4
🔹 ZigZag & Fractals Indicators: Identifies important swing levels and market structures to detect potential breakout opportunities.
🔹 Selective Trading: Focuses on meaningful level breakouts instead of continuously opening trades in normal market conditions.
🔹 Trailing Management: Uses trailing functionality to follow price momentum after a breakout while helping protect accumulated gains.
🔹 Flexible Lot Management: Supports fixed lot trading and automatic position sizing for greater control over trading risk.
🔹 Risk Management: Uses predefined Stop Loss levels and controlled position sizing to maintain a structured trading approach.
🔹 Multi-Pair Compatibility: Primarily designed for GBPUSD, EURUSD, and USDJPY with an H1 trading timeframe.
🔹 Simple Installation: Requires no additional settings files, while broker suffixes and prefixes do not affect operation.
🔹 Fully Automated Trading: Executes breakout entries and position management automatically without requiring constant manual intervention.
What is the Leprechaun EA Trading Strategy?
🔹 Breakout Strategy: Detects significant price levels formed by ZigZag and Fractals before waiting for a confirmed level breakout.
🔹 Pending Order Execution: Uses Buy Stop and Sell Stop orders to participate when price moves beyond identified market levels.
🔹 Two-Sided Market Approach: Configures BuyStop and SellStop orders to capture potential upward or downward breakout movements.
🔹 Momentum Following: After a level is broken, the trailing mechanism follows the resulting price impulse instead of exiting too early.
🔹 Controlled Trade Frequency: Trades selectively because valid breakout levels occur periodically rather than continuously.
Leprechaun EA MT4 Review
🔶 The Leprechaun EA backtest trading results achieved impressive profit performance for 12 consecutive years on the USDJPY.
The advisor showed the ability to maintain safe stars on the 60-minute chart.
✅ Initial Deposit: $100
✅ Total Net Profit: $91,692.29
✅ Win Rate: 69.69%
✅ Maximum Drawdown: 6.14%
Leprechaun EA Backtest Results with USDJPY
🔶 The Leprechaun EA backtest trading results achieved impressive profit performance for 12 consecutive years on the EURUSD.
The advisor showed the ability to maintain safe stars on the 60-minute chart.
✅ Initial Deposit: $100
✅ Total Net Profit: $767,664.54
✅ Win Rate: 70.94%
✅ Maximum Drawdown: 6.35%
Leprechaun EA Backtest Results with EURUSD
🔶 The Leprechaun EA backtest trading results achieved impressive profit performance for 12 consecutive years on the GBPUSD.
The advisor showed the ability to maintain safe stars on the 60-minute chart.
✅ Initial Deposit: $100
✅ Total Net Profit: $1.05 million
✅ Win Rate: 67.55%
✅ Maximum Drawdown: 4.95%
Leprechaun EA Backtest Results with GBPUSD
Recommended settings
Recommended settings and parameters to pay attention to from developers and experts:
| Features | Type |
|---|---|
| Trading platform | MetaTrader 4 (MT4) |
| Currency pairs | GBPUSD, EURUSD, USDJPY |
| Time frames | H1 (60 minute chart) |
| Minimum / Recommended deposit | $100+ |
| Minimum / Recommended leverage | 1:30+ |
| Product type | NoDLL / Unlimited |
| Additional services | Unlock and Decompile |
| Recommended brokers | Exness Broker, Icmarkets Broker |
| Recommended VPS | MyfxVPS.com ( Blue VPS, Golden VPS). Lowest Latency, 2 week Free Trial, 100% Free for 12-18 Months. |
Product Download Package?
The download package of the product suite includes:
✅ Experts: Leprechaun EA_fix.ex4
➡️ Reviewed by David Easton
Conclusion
In short, LepreChaun EA invites traders to dance with magic in the forex market. With its enchanting features, spellbinding performance, and promises of profitability, this EA adds a whimsical touch to the trader’s spellbook of automated solutions. Whether you’re a seasoned wizard or a novice spellcaster, the magic of Lepre Chaun EA might just be the potion you need for a spellbinding forex journey.
🔢 Leprechaun EA MT4 Settings Guide
Leprechaun EA is an automated trading Expert Advisor designed with configurable order-entry, indicator, risk-management and position-management parameters. Its settings provide control over trading timeframes, Buy/Sell shifts, indicator detection, pending orders, stop loss, take profit, lot sizing and automated money management.
Leprechaun EA MT4 Settings Panel
🔄 Core Trading Settings
🔹 Order unique identifier: 17062017 — A unique identifier used by the EA to distinguish its orders from positions managed by other EAs.
🔹 Operating time frame: current — Uses the currently active chart timeframe for the EA’s trading calculations.
🔹 BuyShift: 2 — Defines the Buy-side shift value used by the EA when evaluating its trading conditions.
🔹 SellShift: 2 — Defines the Sell-side shift value used for determining the relevant trading conditions.
🔹 Back loss: 0 — Sets the Back Loss parameter to 0, according to the supplied configuration.
🔹 Trall: 15 — Sets the EA’s Trall parameter to 15, controlling the corresponding trailing/position-management behavior.
🔹 trall step: 2 — Sets the trailing step to 2, defining the incremental distance used when the trailing mechanism adjusts a position.
🔄 Indicator Settings
🔹 Depth: 12 — Defines the indicator depth used for identifying relevant market points or structures.
🔹 Deviation: 5 — Sets the indicator deviation parameter to 5, controlling the required price deviation for signal identification.
🔹 Backstep: 3 — Sets the indicator backstep to 3, determining the minimum separation used when processing detected indicator points.
🔹 Maximal number of indicator tops: 2 — Limits the number of indicator tops considered by the EA to 2.
🔄 Top Order Settings
🔹 Upper Order 1: BuyStop — Configures the first upper pending order as a Buy Stop order.
🔹 Shift in points: 0 — Sets the price shift for the upper order to 0 points.
🔹 Order volume in lots: 0.01 — Sets the upper pending order volume to 0.01 lots.
🔹 StopLoss in points: 20 — Sets the Stop Loss distance for the upper order to 20 points.
🔹 TakeProfit in points: 200 — Sets the Take Profit distance for the upper order to 200 points.
🔄 Lower Order Settings
🔹 Bottom order 1: SellStop — Configures the first lower pending order as a Sell Stop order.
🔹 Shift in points: 0 — Sets the lower order price shift to 0 points.
🔹 Order volume in lots: 0.01 — Sets the lower pending order volume to 0.01 lots.
🔹 StopLoss in points: 20 — Sets the Stop Loss distance for the lower order to 20 points.
🔹 TakeProfit in points: 200 — Sets the Take Profit distance for the lower order to 200 points.
🔄 General Settings
🔹 Lot increase coefficient: 1.0 — Sets the lot-size increase coefficient to 1.0, meaning the configured lot progression does not apply an additional multiplier above the base coefficient.
🔹 Closing Profit, in deposit currency: 0.0 — Sets the closing profit target in the account’s deposit currency to 0.0.
🔹 Profit of closing, in points: 0 — Sets the closing profit threshold in points to 0, according to the supplied settings.
🔹 AutoLot: true — Enables automatic lot-size calculation.
🔹 Deposit for AutoLot: 200.0 — Defines the deposit reference value for automatic lot calculation as 200.0.
🔹 Lot for AutoLot: 0.03 — Sets the lot-size reference used by the AutoLot calculation to 0.03 lots.
🔄 Leprechaun EA Settings Summary
🔹 Order Identifier: 17062017 — Unique order-management identifier.
🔹 Timeframe: current — Uses the active chart timeframe.
🔹 BuyShift / SellShift: 2 / 2 — Configures the Buy and Sell signal shifts.
🔹 Back loss: 0 — Configured Back Loss value.
🔹 Trall / Trall Step: 15 / 2 — Configures the corresponding trailing-management parameters.
🔹 Indicator Depth / Deviation / Backstep: 12 / 5 / 3 — Controls the indicator’s structural detection parameters.
🔹 Maximum Indicator Tops: 2 — Limits detected indicator tops to 2.
🔹 Upper Pending Order: BuyStop — Uses a Buy Stop for the upper order.
🔹 Upper Order Volume: 0.01 lots — Initial upper pending-order volume.
🔹 Upper Stop Loss / Take Profit: 20 / 200 points — Defines the upper order’s SL and TP distances.
🔹 Lower Pending Order: SellStop — Uses a Sell Stop for the lower order.
🔹 Lower Order Volume: 0.01 lots — Initial lower pending-order volume.
🔹 Lower Stop Loss / Take Profit: 20 / 200 points — Defines the lower order’s SL and TP distances.
🔹 Lot Increase Coefficient: 1.0 — Configured lot progression coefficient.
🔹 Closing Profit: 0.0 deposit currency — No positive deposit-currency closing target is configured.
🔹 Closing Profit: 0 points — Closing-profit point threshold is set to 0.
🔹 AutoLot: true — Automatic position sizing is enabled.
🔹 AutoLot Deposit: 200.0 — Reference deposit value for AutoLot calculation.
🔹 AutoLot Volume: 0.03 lots — Reference lot size for the automatic lot calculation.
🔢 How the Leprechaun EA Configuration Works
The configuration combines indicator-based market detection with two-sided pending orders. The upper order is configured as a BuyStop, while the lower order uses a SellStop, both with a volume of 0.01 lots.
Both order types use the same predefined 20-point Stop Loss and 200-point Take Profit, creating a clearly defined risk/reward structure at the individual order level.
The indicator configuration uses Depth 12, Deviation 5, Backstep 3, and a maximum of 2 indicator tops, while the EA operates on the current timeframe.
With AutoLot = true, the EA is configured to calculate position sizing automatically using the supplied Deposit for AutoLot = 200.0 and Lot for AutoLot = 0.03 parameters.
🔢 Conclusion
Leprechaun EA MT4 offers a structured configuration system combining indicator detection, Buy Stop and Sell Stop pending orders, predefined Stop Loss and Take Profit levels, trailing-related parameters, and automatic lot management.
The supplied configuration uses 0.01 lots for both upper and lower pending orders, with 20 points Stop Loss and 200 points Take Profit. The indicator engine is configured with Depth 12, Deviation 5, and Backstep 3, while AutoLot is enabled with a reference deposit of 200.0 and a reference lot value of 0.03.
Before deploying Leprechaun EA MT4 on a live account, traders should test the configuration under their specific broker’s contract specifications, spreads, execution conditions, and account size. Particular attention should be paid to the automatic lot-sizing behavior because AutoLot = true.
🔢 FAQs
❓ What is the Magic Number of Leprechaun EA MT4?
The supplied configuration uses Order unique identifier 17062017, which is used to distinguish the EA’s orders.
❓ What type of pending orders does Leprechaun EA MT4 use?
The configuration uses BuyStop for the Upper Order 1 and SellStop for the Bottom Order 1.
❓ What are the Stop Loss and Take Profit settings?
Both the upper and lower orders use Stop Loss 20 points and Take Profit 200 points.
❓ Is automatic lot sizing enabled?
Yes. AutoLot = true, with Deposit for AutoLot = 200.0 and Lot for AutoLot = 0.03.
❓ What are the main indicator settings?
The indicator uses Depth 12, Deviation 5, Backstep 3, and allows a maximum of 2 indicator tops.
User Reviews
Only logged in customers who have purchased this product may leave a review.
❓ What is Leprechaun EA and how does it work?
Leprechaun EA is an automated trading robot for MetaTrader 4 that uses ZigZag and Fractals indicators to detect key support and resistance levels. It places pending orders at breakout zones and uses trailing stops to lock in profits.
❓ Which currency pairs are supported by Leprechaun EA?
The EA is optimized to trade GBPUSD, EURUSD, and USDJPY on the H1 timeframe, offering a solid mix of volatility and liquidity.
❓ What is the minimum deposit required to use Leprechaun EA?
The minimum recommended deposit is $100, making it a budget-friendly option for both beginners and experienced traders.
❓ Does Leprechaun EA require a specific type of broker?
Yes, it’s recommended to use an ECN broker with low spreads, such as Exness or HTFX, to ensure maximum efficiency and better trade execution.
❓ Is Leprechaun EA beginner-friendly?
Absolutely. The EA features automatic risk management, built-in TP, and no complicated setup. It can be easily installed on any chart without needing special suffixes or broker customizations.
❓ What is the trading strategy behind Leprechaun EA?
It uses a breakout-based strategy by identifying strong support and resistance zones through ZigZag and Fractals, placing pending orders, and managing positions with adaptive trailing stops.
❓ Do I need a VPS to run Leprechaun EA?
While not mandatory, it is strongly recommended to run the EA on a reliable low-latency VPS like MyfxVPS (Blue or Golden VPS), especially if trading 24/5.
❓ What timeframe does the EA operate on?
Leprechaun EA is optimized for the H1 (1-hour) timeframe, balancing signal reliability with trade frequency.
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