Ilan EA MT5 (Official version) | Unbounded

Product Overview

Ilan EA MT5 is an advanced Expert Advisor designed around a virtual trading system that allows the strategy to manage Buy and Sell directions simultaneously on MetaTrader 5.

By using virtual trades, Ilan can adapt strategies commonly associated with position netting while providing its own internal trade-management framework. The Expert Advisor tracks its virtual positions independently, allowing traders to run multiple Ilan instances on the same account without the individual instances interfering with one another.

The system provides flexible controls for trade direction, entry step, Take Profit, starting lot size, lot coefficient, maximum trades, and maximum loss of the last trade. These settings allow traders to adapt the EA to different account sizes and trading preferences.

Ilan can also operate alongside manual trades and other Expert Advisors because it manages its own virtual trading logic independently.

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About the Developer

• Author: Andrey Khatimlianskii.
• Experience: Over +11 years of experience on MQL5.
• Notable Products: Ilan MT5, Ilan MT4, Market Screener EA and others.
• Flagship Product:  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 <<

Key Features of Ilan EA MT5

• Virtual Trading System: Uses virtual positions to manage the trading strategy.
• Simultaneous Buy and Sell: Can operate in both directions at the same time.
• Flexible Trade Direction: Choose Buy only, Sell only, or both directions.
• MagicNumber: Provides a unique identifier for the EA’s trades.
• Adjustable Step: Controls the distance between trade entries.
• Automatic Digit Adaptation: Step and Take Profit automatically adapt to 4- or 5-digit quotes.
• Adjustable Take Profit: Allows traders to configure the desired profit target.
• Start Lot: Configurable initial trading volume.
• Lot Coefficient: Controls lot-size incrementation.
• Maximum Trades: Limits the number of trades allowed in one direction.
• Maximum Loss of Last Trade: Provides an additional risk-control parameter.
• Multiple Instances: Multiple Ilan EAs can be used on one account.
• Independent Operation: Each EA instance manages its own virtual trades.
• Manual Trading Compatibility: Manual positions do not affect Ilan’s internal strategy.
• Other EA Compatibility: Other Expert Advisors can operate on the same account without directly interfering with Ilan’s virtual trades.
• Virtual Position Display: The EA displays virtual positions directly on the chart.
• CloseAndStopNow: Allows all Ilan trades to be closed and the EA to stop operation.
• Series Management: New trade series or new trades can be disabled while the EA waits for an existing profitable series to finish.

How Does Ilan EA MT5 Work?

The main concept behind Ilan EA MT5 is its virtual trading mechanism.

Instead of relying exclusively on conventional visible positions, the EA maintains its own internal list of virtual positions. This allows it to track the strategy independently and determine how many lots are currently being managed.

For example, the chart can display information such as:

• Trade direction
• Opening time
• Virtual volume
• Opening price

This provides traders with a visual representation of the virtual positions currently managed by the EA.

Trade Direction

Ilan provides three trading-direction options:

• Buy only
• Sell only
• Buy and Sell simultaneously

The third option allows the EA to manage both market directions within its virtual trading framework.

Trade Step and Take Profit

The Step parameter controls the spacing between new trades, while TakeProfit defines the intended profit target.

Both parameters automatically adapt to 4-digit and 5-digit price quotations, making the configuration more convenient across different broker environments.

Lot Management

The EA provides two important lot-related parameters:

• Start Lot – defines the initial trading volume.
• Lot Coefficient – determines how the lot size increases according to the strategy’s configuration.

These settings should be selected carefully because increasing lot sizes can significantly increase account exposure.

Trade Limits

Ilan also provides:

• Max Trades in One Direction
• Max Loss of Last Trade

These parameters can be used to limit the number of positions and provide additional control over the risk of an ongoing trade series.

Why Choose Ilan EA MT5?

Virtual Trade Management

The virtual trading architecture is one of the key characteristics of Ilan. It allows the EA to maintain its own strategy state while displaying virtual positions directly on the chart.

Buy and Sell Flexibility

Traders can select one direction or enable both directions simultaneously. This gives users greater flexibility when configuring the strategy for different market conditions.

Multiple EA Instances

One of the notable features of Ilan is the ability to run multiple instances on a single account. Each instance operates using its own virtual trades and does not directly interfere with another Ilan instance.

This can also allow different configurations to be applied to the same financial instrument, provided the trader understands the combined exposure.

Compatible With Manual Trading

Manual positions and trades opened by other Expert Advisors do not affect Ilan’s internal virtual-trading strategy. This makes it possible to use Ilan as part of a broader automated or discretionary trading setup.

Flexible Configuration

Although the basic setup is relatively simple, the EA exposes important strategy parameters, including trade direction, Step, Take Profit, Start Lot, Lot Coefficient, maximum trades, and maximum loss.

Operational Control

The CloseAndStopNow function gives traders a dedicated way to close Ilan-managed trades and stop the EA’s operation.

Ilan EA MT5 Backtest Results

🔺EURUSD 4-Month Performance

• Initial deposit: $1,000
• Net profit: $3,601.69
• Win rate: 79.72%
• Drawdown: 30.31%

Ilan EA MT5 Backtest Results with EURUSD

🔺GBPUSD 4-Month Performance

• Initial deposit: $1,000
• Net profit: $2,268.83
• Win rate: 80.35%
• Drawdown: 34.98%

Ilan EA MT5 Backtest Results with GBPUSD

Performance and Risk Management

Ilan EA MT5 provides several parameters that can influence its risk profile.

The most important include:

Start Lot

The starting lot determines the initial position size. A larger starting lot increases exposure from the beginning of a trading series.

Lot Coefficient

The Lot Coefficient controls the increase in position size according to the strategy. Traders should pay particular attention to this parameter because increasing position sizes can cause exposure to grow rapidly during extended adverse market movements.

Maximum Trades in One Direction

This parameter limits the number of trades that can be opened in a particular direction. A lower limit can help restrict the maximum number of positions in a series.

Maximum Loss of Last Trade

The Max Loss of Last Trade parameter provides an additional loss-management mechanism for the final trade in a series.

Trade Direction

Running both Buy and Sell directions simultaneously can provide flexibility, but it does not eliminate market risk. The combined exposure of multiple directions and multiple EA instances should always be evaluated at the account level.

The EA’s actual trading results should be evaluated using the MetaTrader 5 Strategy Tester, as recommended by the developer. Backtest results can vary depending on historical data quality, spread, commission, execution assumptions, and testing parameters.

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Weaknesses and Risk Warnings

Despite its flexible virtual-trading architecture, Ilan EA MT5 involves significant risks that traders should understand.

Increasing Lot Exposure

The combination of Start Lot and Lot Coefficient can increase trading volume during a series. If the market continues moving against the strategy, exposure may become substantially larger.

Multiple Positions

Allowing multiple trades in one direction can increase the account’s total market exposure. Traders should not evaluate the risk of an individual position separately from the entire trade series.

Virtual Trades Require Attention

The positions displayed by Ilan are part of its internal virtual-trading system. Traders should understand the difference between the EA’s virtual positions and the actual positions shown in the MetaTrader 5 account.

Manual and Other EA Positions

Manual trades and positions opened by other Expert Advisors do not form part of Ilan’s internal trading process. Therefore, traders must independently monitor the total account exposure.

Do Not Use Conventional SL/TP Without Understanding the System

The developer specifically warns against applying conventional Stop Loss and Take Profit settings to the positions managed by Ilan because doing so may close positions without the EA accounting for those closures within its trading process.

The recommended approach is to use the EA’s own position-management and CloseAndStop functionality when closing Ilan-managed positions.

Market Conditions

No automated strategy performs identically in every market environment. Strong trends, volatility changes, spreads, slippage, and unexpected market events can negatively affect results.

No Guaranteed Profit

Testing results do not guarantee future live performance. Traders should always test the EA carefully and use appropriate risk management before deploying it with real capital.

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Pros and Cons

Pros

• Uses a virtual trading mechanism
• Supports simultaneous Buy and Sell directions
• Buy-only and Sell-only modes available
• Adjustable Step and Take Profit
• Automatically adapts to 4- and 5-digit quotes
• Adjustable Start Lot
• Configurable Lot Coefficient
• Maximum trades can be limited
• Maximum loss of the last trade can be configured
• Multiple Ilan instances can run on one account
• Each instance manages its own virtual trades
• Can operate alongside manual trading
• Can operate alongside other Expert Advisors
• Displays virtual positions directly on the chart
• Includes CloseAndStopNow functionality
• Allows traders to control new series and new trades

Cons

• Increasing lot sizes can substantially increase exposure
• Multiple trades can accumulate during an adverse market movement
• Running multiple EA instances requires careful account-level risk management
• Virtual positions must be understood separately from actual broker positions
• Market conditions can significantly affect results
• Improper use of conventional SL/TP can interfere with the EA’s trade-management logic
• Backtest performance does not guarantee live performance

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How to Install Ilan EA MT5

To install Ilan EA MT5 on MetaTrader 5:

1. Download the Ilan EA MT5 file.
2. Open MetaTrader 5.
3. Select File → Open Data Folder.
4. Open the MQL5 → Experts folder.
5. Copy the Ilan EA file into the Experts directory.
6. Restart MetaTrader 5 or refresh the Navigator panel.
7. Open the desired trading instrument and timeframe.
8. Drag Ilan EA MT5 onto the chart.
9. Enable Algo Trading.
10. Configure the MagicNumber.
11. Select the desired Trade Direction.
12. Configure Step and Take Profit.
13. Set an appropriate Start Lot.
14. Configure the Lot Coefficient according to your risk tolerance.
15. Set Max Trades in One Direction.
16. Configure Max Loss of Last Trade if required.
17. Monitor the virtual positions displayed on the chart.
18. Test the configuration using the MetaTrader 5 Strategy Tester before moving to a live account.

If running multiple Ilan instances, use separate configurations and carefully monitor the combined exposure.

Real User Reviews and Feedback

🔺Ilan EA MT5 is highly appreciated by the MQL5 community for bringing stable and reliable profits. Below are 5 star reviews from users:

User Reviews

What’s Included in the Download Package?

• Setting (If Any).docx
• Installation Guide.docx

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Final Thoughts

Ilan EA MT5 is a specialized Expert Advisor built around a virtual trading system that enables flexible management of Buy and Sell directions on MetaTrader 5.

Its key advantages include simultaneous directional trading, configurable lot management, adjustable trade limits, virtual-position monitoring, and the ability to run multiple independent instances on the same account.

The EA also provides useful operational controls such as CloseAndStopNow, while allowing users to stop new trade series and let existing series finish according to the configured strategy.

However, traders should pay particular attention to the Start Lot, Lot Coefficient, maximum trade count, and overall exposure. Increasing position sizes and accumulating multiple trades can create substantial risk during prolonged adverse market conditions.

For this reason, Ilan EA MT5 should be thoroughly tested in the MetaTrader 5 Strategy Tester and on a demo account before live deployment. Proper position sizing and account-level risk management remain essential.

Ilan EA MT5 is a trading tool, not a guarantee of profitability. Past backtest or trading results do not guarantee future performance.