Eve EA MT4 (Official version) | Unbounded

Product Overview

Eve EA MT4 is a fully automated Forex trading Expert Advisor designed for MetaTrader 4 (MT4), combining intelligent Price Action analysis with advanced market filters and automated position management.

The EA analyzes market conditions to identify potentially rewarding trading opportunities while filtering out unfavorable entry signals. Its internal trading logic evaluates each potential setup before executing trades, helping reduce unnecessary market exposure.

Designed with a focus on long-term stability and strategy robustness, Eve EA MT4 incorporates several advanced trading technologies, including High Spread Protection, Two-Level Trailing Stop, FIFO Compatibility, and an integrated Smart Recovery Module.

One of its key features is the Smart Recovery Module, which provides an alternative position management mechanism during sudden and short-term market movements. Instead of relying exclusively on a conventional visual Stop Loss, the EA can activate its recovery logic to manage positions using additional orders in the same direction with a moderate lot multiplier.

With flexible trading filters, pending order execution, and customizable money management, Eve EA MT4 offers a comprehensive automated Forex trading solution for traders seeking intelligent trade selection and dynamic position management.

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About the Developer

• Author: Oeyvind Borgsoe.
• Experience: Over +4 years of experience on MQL5.
• Notable Products: Eve EA MT4, Opal EA MT4, Opal MT5, Tree Of Life MT5, Adama MT5 and other advisors.
• Flagship Product: Eve 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 <<<

Eve EA MT4 Overview

Key Features of Eve EA MT4

Intelligent Price Action Strategy

Eve EA MT4 uses a Price Action-based trading strategy to analyze market behavior and identify potential trading opportunities.

Its advanced internal filters evaluate market conditions before entering trades, helping exclude unfavorable setups and focus on higher-quality trading signals.

Advanced Entry Filters

The EA incorporates flexible trading filters to evaluate potential entries and avoid unsuitable market conditions.

Each trading opportunity is analyzed before execution, allowing the system to operate selectively rather than opening positions continuously.

Smart Recovery Module

The Smart Recovery Module is one of the distinctive features of Eve EA MT4.

When necessary, the EA can activate this secondary management system instead of relying on the conventional visual Stop Loss.

The module opens additional orders in the same direction using a soft lot multiplier, with individual currency pair multipliers generally ranging from 1.1 to 1.2.

This mechanism is designed to manage positions during sudden and short-term market fluctuations.

Traders can configure the maximum number of trades according to their preferences.

The Smart Recovery Module can also be disabled by setting the MaxTrades parameter to 0 in the EA Inputs. When disabled, the EA uses its visual Stop Loss mechanism.

The Smart Recovery Module can increase total market exposure because it adds positions during unfavorable market movements. It should not be considered a guaranteed loss-recovery or capital-protection mechanism.

Two-Level Trailing Stop

Eve EA MT4 features a Two-Level Trailing Stop system designed to manage open positions dynamically.

The system uses two trailing stages to adjust Stop Loss levels as the market moves in a favorable direction.

This helps manage accumulated profits while allowing trades to remain open when market conditions support further movement.

High Spread Protection

The built-in High Spread Protection monitors current trading spreads and helps prevent trade execution when spread conditions exceed the configured limits.

This feature is particularly useful during periods of low liquidity, market openings, or sudden volatility.

Pending Order Execution

Instead of relying exclusively on immediate market execution, Eve EA MT4 uses pending orders for trade entries.

This approach is designed to improve entry precision and reduce exposure to certain forms of execution slippage.

However, pending orders do not eliminate slippage, gaps, or execution differences.

FIFO Compatibility

Eve EA MT4 supports FIFO-compatible trading logic, making it suitable for accounts operating under First In, First Out execution requirements.

Actual compatibility should still be verified with the broker’s account rules and execution environment.

Flexible Money Management

The integrated Money Management module allows traders to configure position sizing according to their preferred risk level and account balance.

Combined with flexible trading filters, the EA offers customizable settings for different trading preferences.

How It Works

Eve EA MT4 follows an automated trading process based on Price Action analysis, entry filtering, and dynamic position management.

Step 1: Analyze Market Conditions

The EA continuously monitors the selected currency pair and evaluates price movements using its internal Price Action strategy.

Step 2: Evaluate Trading Opportunities

Advanced filters analyze potential trading setups and exclude entries that do not meet the EA’s internal conditions.

Step 3: Place Pending Orders

When a valid setup is identified, the EA places pending orders according to its predefined entry logic.

Step 4: Execute and Manage Positions

Once a pending order is triggered, the EA automatically manages the position using its internal trade management system.

Step 5: Apply Trailing Stop Protection

The Two-Level Trailing Stop adjusts Stop Loss levels according to predefined trading conditions as the position moves into profit.

Step 6: Activate Smart Recovery When Necessary

During certain sudden or short-term market movements, the Smart Recovery Module may activate additional orders in the same direction using the configured soft lot multiplier.

Step 7: Apply Risk and Spread Controls

The EA continuously applies its configured trading filters, spread protection, and money management parameters.

This automated process is designed to maintain structured trade execution while adapting position management to changing market conditions.

Why Choose Eve EA MT4?

Selecting a Forex Expert Advisor requires considering its entry strategy, execution method, and ability to manage open positions.

Eve EA MT4 combines several trading and management technologies in one automated system.

Key advantages include:

• Intelligent Price Action Trading: Analyzes market behavior to identify potential trading opportunities.

• Advanced Entry Filters: Evaluates setups and filters out unfavorable entries.

• Smart Recovery Technology: Includes a secondary position management module for certain market conditions.

• Two-Level Trailing Stop: Provides two stages of automated Stop Loss adjustment.

• High Spread Protection: Helps avoid unfavorable spread conditions.

• Pending Order Execution: Uses pending orders for structured trade entries.

• FIFO Compatibility: Supports FIFO-compatible trading requirements.

• Flexible Money Management: Allows traders to configure position sizing and risk preferences.

• Customizable Trading Filters: Offers flexibility when adapting the EA to different trading conditions.

• MT4 Compatibility: Runs directly on the MetaTrader 4 platform.

Eve EA MT4 is designed for traders who value automated Price Action analysis combined with flexible trade management and additional recovery functionality.

Eve EA MT4 Backtest Results

Eve EA Backtets

🔺EURUSD – 3Year

• Initial Deposit: $10.000
• Total Net Profit: $6.076,53
• Win Rate (% of total): 90.76%
• Maximum Drawdown: 16.17%

Eve EA MT4 Backtets

Risk Management & Alerts

Risk management is an essential part of operating Eve EA MT4, particularly because the Smart Recovery Module can increase exposure through additional positions.

The EA provides configurable money management and recovery parameters to help traders control their trading settings.

Recommended Trading Settings

Recommended Risk Levels

Risk percentages are suggested classifications, not guaranteed maximum drawdown limits. Actual exposure may be higher when the Smart Recovery Module opens additional positions.

Smart Recovery Module Settings

The Smart Recovery Module uses a soft lot multiplier to manage additional positions.

Important Risk Considerations

1. Smart Recovery Exposure

The Recovery Module can increase the total number of open positions and overall account exposure. A sequence of unfavorable market movements may result in substantial drawdown.

2. Risk Percentage

High-risk settings above 2% can significantly increase potential losses. Conservative settings are preferable when initially testing the EA.

3. Spread and Slippage

Although High Spread Protection is included, spreads can change rapidly, and pending orders may still experience execution slippage.

4. Market News and Volatility

Unexpected economic announcements can cause sharp price movements and affect both pending order execution and recovery positions.

5. Maximum Trades Configuration

Traders should carefully configure the MaxTrades parameter to avoid excessive position accumulation.

6. Visual Stop Loss

When the Recovery Module is disabled by setting MaxTrades to zero, the EA uses the visual Stop Loss mechanism. Traders should verify how this mechanism operates under their broker’s execution conditions.

News Protection Filter

Eve EA MT4 also offers the possibility of using a news protection filter.

Traders who require this functionality should contact the developer after purchase for assistance and configuration information.

Risk Disclaimer: Eve EA MT4 does not guarantee profits or eliminate trading risks. Always test the default settings on a demo account before using real capital. Never assume that a recovery strategy can guarantee the recovery of previous losses.

Pros and Cons

Overall, Eve EA MT4 offers a combination of intelligent trade selection and dynamic position management. Its Smart Recovery functionality provides additional flexibility but requires careful risk configuration.

How to Install Eve EA MT4

Installing Eve EA MT4 on MetaTrader 4 is simple. Follow the steps below to get started.

Step 1: Download the Expert Advisor

Download the Eve EA MT4 file provided by the developer.

The file should normally have an .ex4 extension.

Step 2: Open MetaTrader 4

Launch MetaTrader 4 and log in to your trading account.

Step 3: Open the Data Folder

Navigate to:

File → Open Data Folder

Open the following directory:

MQL4 → Experts

Step 4: Install Eve EA MT4

Copy the downloaded .ex4 file into the Experts folder.

Step 5: Refresh the Navigator

Return to MT4, open the Navigator panel, right-click on Expert Advisors, and select Refresh.

Eve EA MT4 should now appear in your Expert Advisors list.

Step 6: Open the EURUSD H1 Chart

Open the EURUSD chart and set the timeframe to H1.

EURUSD is the recommended trading pair and H1 is the recommended timeframe.

Step 7: Attach the EA to the Chart

Drag Eve EA MT4 onto the EURUSD H1 chart.

Review the available Inputs and configure:

• Money Management parameters.

• Risk settings.

• Smart Recovery Module.

• Maximum Trades (MaxTrades).

• Trading filters.

• Trailing Stop parameters.

• Spread protection settings.

You may use the default settings or adjust the parameters according to your trading preferences.

Step 8: Enable Automated Trading

Make sure the following settings are enabled:

• Allow live trading in the EA settings.

• Enable AutoTrading on the MT4 toolbar.

• Confirm that automated trading permissions are correctly configured.

Step 9: Monitor the EA

Check the Experts and Journal tabs to confirm that Eve EA MT4 is operating correctly.

For continuous automated trading, a reliable VPS is recommended.

Additional Support: If you need assistance with recommended brokers, VPS services, installation, or configuration, contact the developer.

What’s Included in the Download Package?

• Experts:  Eve EA.ex4

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Final Thoughts

Eve EA MT4 is an intelligent automated Forex trading system that combines Price Action analysis, advanced entry filters, and dynamic position management within the MetaTrader 4 platform.

Its Two-Level Trailing Stop, High Spread Protection, FIFO compatibility, and flexible Money Management module provide a comprehensive set of automated trading features.

One of its most distinctive components is the Smart Recovery Module, which introduces an alternative approach to managing positions during sudden and short-term market fluctuations.

However, traders should understand that recovery-based position management can increase exposure and does not guarantee the recovery of losses. Proper configuration of risk settings and maximum trade limits is therefore essential.

For traders looking for an automated EURUSD trading solution with intelligent entry filtering and customizable position management, Eve EA MT4 is a system worth evaluating through careful demo testing.

Smart Entries. Dynamic Management. Flexible Risk Control.