Introduction

Ilan EA V6.10 is a MetaTrader 4 Expert Advisor that uses a classic grid trading strategy with optional lot averaging. It opens an initial trade and adds positions at set intervals when price moves against the first order, then closes the entire basket once a collective profit target is reached. The EA is designed mainly for ranging or mean-reverting market conditions on liquid currency pairs.

Key Features

Fully automated grid trading on MT4
Adjustable grid step size (fixed or adaptive)
Optional lot multiplier or fixed-lot mode
Maximum open trades limit
Basket take-profit function
Equity and daily loss protection options
Magic number support for multiple charts
Ready-to-use set files for selected pairs
Lightweight design suitable for VPS

Recommended Settings

Platform: MetaTrader 4
Preferred pairs: EURUSD, EURGBP, CADCHF
Timeframes: M5, M15 or H1 (depending on the set file)
Minimum account balance: $1,000 recommended (higher is safer)
Lot size: Start with 0.01 or very small risk percentage
Max open trades: Keep limited (commonly 5–7 levels)
Prefer low-spread ECN or raw accounts
Use a reliable VPS for continuous operation
Always test on demo first with conservative parameters

Advantages

Removes the need for constant manual monitoring
Clear and transparent grid logic
Flexible risk controls through max trades and lot settings
Ready set files reduce initial setup time
Works well in ranging market conditions when properly configured

Disadvantages

Can experience larger drawdowns during strong trending markets
Requires careful risk management and sufficient capital
Not suitable for traders who dislike multiple open positions
Performance depends heavily on broker spreads, execution quality and chosen settings
No strategy guarantees consistent results

Conclusion

Ilan EA V6.10 MT4 is a practical grid-based Expert Advisor for traders who understand averaging strategies and are willing to manage risk carefully. It offers automation and structure for range-focused trading but demands proper testing, conservative settings and realistic expectations. Always start on a demo account and never risk more capital than you can afford to lose.

Support & Disclaimer

Support

If you need help installing or configuring your EA, or face any kind of bug, feel free to reach out on:

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Telegram Group: Join our community

Disclaimer:

Forex and gold trading involve risk. Past performance doesn’t guarantee future results. Always test robots on demo before live trading and use proper risk management.