Leprechaun EA MT4 + Setfiles

Leprechaun EA MT4 Introduction

Leprechaun EA MT4 is a sophisticated breakout-based trading system designed to capture powerful price movements in the forex market. This fully automated MetaTrader 4 Expert Advisor implements a precise strategy that identifies key price levels using ZigZag and Fractals indicators, placing pending orders at strategic breakout points to capitalize on impulsive price movements. Specialized for currency pairs including EURUSD, GBPUSD, and USDJPY, Leprechaun distinguishes itself by trading selectively only during significant price level breaks rather than continuously, avoiding the common pitfalls of overtrading. The EA offers traders freedom from emotional decision-making and constant market monitoring while delivering impressive backtested performance metrics including a profit factor exceeding 2.34 and an average monthly gain of 14.77%. Ultimately, Leprechaun EA MT4 represents a balanced approach to automated forex trading with a focus on sustainable growth through intelligent breakout detection and adaptive trend following.

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About the Leprechaun EA MT4’s Author

Leprechaun EA MT4 is developed by Aleksandr Somov, who is recognized as the author on official MQL5 listings. Some variants of the EA may be attributed to Aleksei Zaitsev on certain platforms.

Key Highlights

• Intelligent Breakout Detection: Utilizes ZigZag and Fractals indicators to identify key price levels and places pending orders only when price decisively breaks through these levels
• Trend-Adaptive Trading: Features smart trailing stop functionality that follows price impulses after breakouts while adapting to trend changes by automatically reversing positions and closing grids
• Risk Management Focus: Avoids risky martingale or grid strategies that trade against the trend, supporting fixed lot trading to maintain controlled exposure and limit drawdowns
• Flexible Operation: Can be configured for time-based trading during high-volatility sessions (like US market hours) or continuous 24/5 operation based on trader preference
• Proven Performance: Backtesting shows a profit factor of 2.89 with a relatively low maximum drawdown of 4.59%, with core currency pairs showing consistent profitability across extended testing periods
• Win Rate Efficacy: Demonstrates an impressive 66.13% win rate on long positions while maintaining overall profitability despite a lower 29.94% win rate on shorts, indicating efficient entry/exit mechanics

Leprechaun EA MT4 Recommended

• Trading Platform: MetaTrader 4 (MT4)
• Pairs: GBPUSD, EURUSD, USDJPY (core version); XAUUSD/XAGUSD (some variants)
• Supported Accounts: Any MT4 ECN/STP account (low spread recommended)
• Timeframe: H1 (default for FX pairs); M5 (XAUUSD/XAGUSD variant)
• Trading Time: Breakout-triggered (optimal during high volatility sessions like US market hours)
• Leverage: Minimum 1:500; 1:2000 recommended for precious metals variants
• Minimum Deposit: $100 for core currency pairs; $300 for XAUUSD/XAGUSD variant

Installation and Usage Tips

• ZigZag Sensitivity Settings:
  • Leg Range: 13 (defines the minimum price movement for ZigZag detection)
  • BJ Bars: 8 (determines the lookback period for pattern formation)
• Moving Average Configuration:
  • MA Period 1: 8 (fast moving average for trend detection)
  • MA Period 2: 42 (slow moving average for trend confirmation)
  • MA Period 4: 13 (medium-term reference for entry validation)
• Order Management Parameters:
  • Take Profit: 50 pips on standard settings
  • Stop Loss: 60 pips as default protection
  • Step Trail: 12 (controls trailing stop behavior after breakout)
  • Magic Number: 555 (identifies EA trades in terminal)
• Risk Management Controls:
  • Fixed Lot Size: 0.01 (conservative default setting)
  • Risk Percentage Option: 16 (alternative percentage-based position sizing)
  • Maximum Orders: 2 (limits concurrent exposure)

Leprechaun EA MT4 Review

Leprechaun EA MT4 delivers consistent results through its disciplined breakout approach, addressing the common trader challenge of timing market entries effectively. The EA’s selective trading style means it doesn’t overtrade during choppy markets, helping eliminate emotional trading decisions. Performance metrics show substantial profit potential with managed risk, though the 38.45% maximum drawdown indicates some volatility during adverse conditions. Best suited for traders with patience who understand breakout mechanics, this system requires proper broker selection with low spreads for optimal execution.

Live signal on myfxbook

• Risk-Adjusted Performance: Maintains a profit factor of 2.34, indicating solid risk management despite aggressive profit-taking

• Real Account Performance: Live results demonstrate $8,074 profit using conservative 0.01 lot sizing, validating strategy effectiveness
• Drawdown Management: Maximum recorded drawdown of 38.45% suggests moderate risk exposure during adverse market conditions

Users reviews here

Why Choose Leprechaun EA MT4

• Pure Price Action Strategy: Relies on actual market breakouts rather than lagging indicators, capturing genuine market momentum when it matters most
• Adaptive Position Management: Automatically reverses trading direction when the trend changes, helping maintain alignment with current market conditions
• No Dangerous Risk Amplification: Avoids martingale and risky grid strategies that can lead to catastrophic account losses during extended market moves
• Verified Long-Term Performance: Extensive backtesting from 2010-2022 demonstrates strategy robustness through various market conditions
• Time-Saving Automation: Eliminates the need for constant market monitoring while maintaining disciplined execution of a proven breakout strategy

Conclusion

Leprechaun EA MT4 offers a methodical approach to breakout trading with a demonstrated track record of profitability and reasonable risk management. It’s best suited for intermediate traders with at least $100-300 capital who appreciate selective, momentum-based strategies rather than high-frequency systems. While performance is strong, users should be prepared for periodic drawdowns and should select brokers with tight spreads for optimal execution quality.

Ready to Use Leprechaun EA MT4?

• Website: cheapforexea.com
• Email: [email protected]
• Telegram: https://t.me/+TT_oy2yBiQZjZjE1
• Phone: (510) 555-2412
• Address: 1161 36th St, Emeryville, CA 94608

Leprechaun EA MT4 Download Packages:

• Link download experts:
  • Leprechaun EA MT4 (unlimited).ex4
• Presets