Icaro EA MT4 (Official version) | Unbounded

Product Overview

Icaro EA MT4 is an automated trading Expert Advisor developed specifically for the NAS100 index on the MetaTrader 4 platform. Designed to operate on the M1 (1-minute) timeframe, this trading robot provides an automated approach for traders interested in short-term NAS100 market movements.

The Expert Advisor comes with recommended configuration parameters, including lot size, take profit, stop loss, and spread settings. Its focus on a single trading instrument allows users to configure their trading environment specifically for NAS100 rather than managing multiple currency pairs.

According to the developer, Icaro EA MT4 has been tested with Vantage FX, although actual trading results may vary depending on broker conditions, account specifications, market volatility, and execution quality.

With its automated trading functionality and developer-assisted installation support, Icaro EA MT4 is intended for traders who want to explore algorithmic trading on the NAS100 index.

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About the Developer

• Author: Christian Ricci
• Experience: Over + 5 years of experience on MQL5.
• Notable Products: Icaro EA MT4 and other advisors.
• Flagship Product: Icaro EA MT4 is rated as the best performing product of the year.

>>> Delivery time 24h-48h after payment.
>>> Refund if not delivered.
>>> You will receive the latest version without any limitations (ID+Time).

> Reviewed by Jason Stap <<<

Icaro EA MT4 Overview

Key Features of Icaro EA MT4

Dedicated NAS100 Trading Robot

Icaro EA MT4 is designed exclusively for NAS100 trading. The developer recommends using the Expert Advisor only on this instrument.

NAS100 tracks the Nasdaq-100 index, which includes many major non-financial companies listed on the Nasdaq exchange.

Optimized for the M1 Timeframe

The recommended trading timeframe is M1, allowing the EA to operate on one-minute price charts.

This short timeframe is commonly associated with fast-paced trading environments where execution speed, spreads, and market volatility are particularly important.

Automated Trading Execution

Icaro EA MT4 is designed to automate trading operations through MetaTrader 4, reducing the need to place every trade manually.

However, the developer has not provided detailed information about its internal entry signals or trade execution algorithms.

Configurable Position Sizing

The Expert Advisor includes a lot-size parameter that traders can adjust according to their account balance and risk tolerance.

The developer’s suggested configuration is one lot for every €100 in account balance.

For example, a €1,000 account would correspond to 10 lots under the provided settings.

This is an aggressive example rather than a generally safe position-sizing recommendation. Contract specifications and margin requirements must be reviewed before using it.

Customizable Take Profit and Stop Loss

The provided configuration includes:

• Take Profit (TP): 5
• Stop Loss (SL): 0

The exact price or point interpretation of these values depends on the EA’s programming and broker specifications.

A stop-loss value of zero may disable the fixed stop loss, depending on how the EA interprets this parameter.

Broker Testing Reference

The developer identifies Vantage FX as the broker used for testing Icaro EA MT4.

This information provides a reference trading environment but does not guarantee identical execution or performance with other brokers.

Installation and Configuration Support

The developer offers direct assistance to buyers after purchase.

Users are encouraged to contact the seller through private messages to receive help with installation and configuration.

How It Works

Icaro EA MT4 operates within the MetaTrader 4 trading platform and is intended to automate NAS100 trading on the one-minute chart.

Once installed and configured, the EA can execute trading operations according to its programmed strategy.

The general operating process includes:

Step 1 – NAS100 Chart Setup

The trader opens the NAS100 instrument on MetaTrader 4 and selects the M1 timeframe.

Step 2 – EA Initialization

Icaro EA is attached to the NAS100 chart, and its trading parameters are configured.

Step 3 – Trading Configuration

The user enters the recommended or individually adjusted lot size, take-profit value, stop-loss value, and other available settings.

Step 4 – Automated Trading

With automated trading enabled, the EA can execute trades according to its internal trading rules.

Step 5 – Trade Monitoring

The trader monitors open positions, account equity, broker execution, and overall trading exposure.

The exact trading strategy, market-entry conditions, exit algorithm, and position management system have not been disclosed in the supplied product information.

Therefore, traders should evaluate its behavior through demo testing before using real capital.

Why Choose Icaro EA MT4?

Icaro EA MT4 offers a specialized approach to automated index trading, with a primary focus on NAS100 and short-term market activity.

Specialized Trading Instrument

Rather than targeting numerous Forex pairs, Icaro EA concentrates on NAS100, making it suitable for traders specifically interested in this market.

Simple Recommended Configuration

The developer provides a concise set of parameters, allowing users to begin testing without having to design a complete trading configuration independently.

Automated Trading Convenience

The EA can reduce manual order-entry requirements and support traders who prefer algorithmic execution.

Short-Term Trading Environment

The M1 timeframe provides opportunities to evaluate frequent market movements, although it also increases sensitivity to spreads, slippage, and execution delays.

Developer Assistance

Buyers can contact the developer for assistance with installation and configuration, which may be particularly useful for users unfamiliar with MetaTrader 4 Expert Advisors.

Icaro EA MT4 may appeal to traders seeking a dedicated NAS100 automation tool, but its profitability and reliability require independent verification.

Icaro EA MT4 Backtest Results

🔺NAS100

• Initial Deposit: $10,000
• Total Net Profit: $10.349.80
• Win Rate (% of total): 100%
• Maximum Drawdown: 36.88%

Icaro EA MT4 backtets

Risk Management & Alerts

Risk management is especially important when trading NAS100 on the M1 timeframe because rapid price fluctuations can cause significant changes in account equity.

Recommended Icaro EA MT4 Settings

The meaning of the Min parameter is not explained in the provided documentation and should be confirmed with the developer.

Lot Size and Account Exposure

The developer’s example specifies:

• €100 balance: 1 lot
• €500 balance: 5 lots
• €1,000 balance: 10 lots

These values are reproduced from the developer’s configuration instructions and should not be treated as suitable risk levels for every trading account.

NAS100 contract sizes differ between brokers. A lot size that is acceptable with one broker may create excessive margin requirements or significant losses with another.

Stop-Loss Considerations

The recommended SL value is zero.

If this value disables the stop loss, positions may remain exposed to substantial adverse price movements unless another protective mechanism is present.

Traders should verify whether the EA includes alternative risk controls before using this configuration.

Spread and Slippage

The recommended spread parameter is 80, but its measurement unit is not specified.

NAS100 spreads can widen during periods of market volatility, major economic announcements, or reduced liquidity.

Execution slippage may also cause trades to open or close at prices different from those expected.

Recommended Safety Practices

• Test Icaro EA MT4 on a demo account before live deployment.
• Verify NAS100 contract specifications and margin requirements.
• Evaluate smaller lot sizes based on acceptable risk per trade.
• Confirm how TP, SL, spread, and Min parameters are interpreted.
• Monitor account drawdown and available margin.
• Avoid assuming that broker testing guarantees profitable results.
• Use appropriate account-level protection and maintain sufficient free margin.

Important Risk Warning: Automated NAS100 trading involves substantial financial risk. Aggressive position sizing and trading without a protective stop loss can result in rapid losses or account liquidation.

Pros and Cons

Pros

• Developed specifically for NAS100 automated trading.
• Designed for the M1 timeframe.
• Compatible with MetaTrader 4.
• Provides configurable lot-size and trade management parameters.
• Offers a straightforward recommended setup.
• Includes a reference broker used for developer testing.
• Automates trading operations according to its internal strategy.
• Developer offers installation and configuration assistance.

Cons

• Limited to NAS100 rather than multiple trading instruments.
• M1 trading is highly sensitive to volatility and execution conditions.
• The developer’s lot-size recommendation creates potentially excessive exposure.
• The recommended SL value of zero may mean there is no fixed stop loss.
• The meanings and units of certain settings are not fully documented.
• Internal trading algorithms and entry conditions are not disclosed.
• No independently verified performance records are provided.
• Trading results may vary significantly between brokers.

How to Install Icaro EA MT4

Installing Icaro EA MT4 requires MetaTrader 4, the Expert Advisor installation file, and access to a broker offering NAS100 trading.

Step 1: Download Icaro EA MT4

After purchasing the Expert Advisor, obtain the installation file or follow the official product installation procedure supplied by the seller.

Step 2: Launch MetaTrader 4

Open MetaTrader 4 and log in to your trading account.

Ensure that your broker provides access to NAS100 or its equivalent instrument name.

Step 3: Install the Expert Advisor

If the developer supplies an EX4 file:

1. Click File → Open Data Folder.
2. Navigate to MQL4 → Experts.
3. Copy the Icaro EA file into the Experts folder.
4. Restart MetaTrader 4 or refresh the Navigator panel.

If the EA is purchased through the MQL5 Market, follow the marketplace installation process instead.

Step 4: Open NAS100 Chart

Locate NAS100 in the Market Watch panel.

Open the trading chart and select the M1 timeframe.

Step 5: Attach Icaro EA

Find Icaro EA in the Navigator panel under Expert Advisors.

Drag it onto the NAS100 M1 chart.

Step 6: Configure EA Parameters

Open the EA Inputs tab and enter the developer’s recommended settings where applicable:

• Lots: 1 per €100 account balance
• TP: 5
• SL: 0
• Min: 10
• Spread: 80

These are the developer’s example settings, not risk-optimized defaults. Confirm the exact parameter names, units, and effects before use.

Step 7: Enable Automated Trading

Allow automated trading in MetaTrader 4 and verify that the EA is correctly initialized.

Review the Experts and Journal tabs for any installation or trading errors.

Step 8: Test the Trading Setup

Before using a live account, operate the EA in a demo environment and evaluate:

• Trade opening and closing behavior
• Profit and loss distribution
• Maximum drawdown
• Margin consumption
• Spread sensitivity
• Stop-loss behavior
• Broker execution quality

Step 9: Contact the Developer

After purchasing Icaro EA MT4, the seller requests that buyers contact them through private messages.

The developer offers assistance with installation and configuration to help users set up the Expert Advisor correctly.

What’s Included in the Download Package?

• Expertsp: Icaro EA MT4.ex4

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Final Thoughts

Icaro EA MT4 is a specialized automated trading robot developed for NAS100 on the MetaTrader 4 platform. With its recommended M1 timeframe, configurable trading parameters, and developer installation support, it offers an accessible configuration process for traders interested in automated index trading.

Its dedicated NAS100 focus and short-term trading approach may appeal to users who prefer a narrowly defined trading instrument rather than a multi-asset Expert Advisor.

However, the developer’s recommended position sizing is highly aggressive, and the suggested SL value of zero raises important risk management concerns.

Additionally, the available documentation does not include independently verified profitability, drawdown statistics, or detailed descriptions of the trading algorithm.

For these reasons, Icaro EA MT4 should be evaluated carefully through demo testing, with particular attention to position sizing, margin requirements, execution quality, and downside protection.

If you are considering Icaro EA MT4, review the developer’s specifications and contact the seller for installation assistance before deploying the robot on a live trading account.

Disclaimer: Forex and CFD trading involves significant risk and may result in the loss of invested capital. Automated trading systems do not guarantee profits. The settings described in this article are provided by the developer and do not constitute financial advice.