IS Purple EA v1.2 Source Code MQ4 with SetFiles (Available)

What is IS Purple EA?

IS Purple EA is an Expert Advisor (EA) designed with a flexible and risk-managed configuration to enhance Forex trading performance. Combining a scalping and grid hybrid strategy, this EA captures small yet frequent profits while ensuring controlled risk levels.

• Vender Website

About the Developer

•  Author: InvestSniper.
•  Experience: Over +8 years of experience on MQL5.
•  Notable Products: IS Purple EA, IS Yellow EA, IS Red EA, IS White EA, IS Grey EA, IS Blue EA, IS Green EA and other advisors. 
•  Flagship Product: IS Purple EA is the best performing product.

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IS Purple EA setting

Key Features of IS Purple EA

🔻Scalping & Grid Hybrid Strategy:

• The scalping strategy focuses on quick gains, while the grid system ensures risk management through position spacing.

🔻Dynamic Lot Sizing:

• Automatically calculates lot sizes based on account balance and risk settings, allowing for an adaptive trading approach.

🔻Percentage-Based Stop Loss:

• Each trade is protected with a stop loss (SL) set as a percentage of account equity, ensuring a balanced risk-reward ratio.

🔻Dynamic Trailing Stop:

• The trailing stop locks in profits as the market moves in the trader’s favor, maximizing gains during favorable price trends.

Additional Features of IS Purple EA

🔻Time-Based Trading:

• Trading is restricted to specific hours, avoiding low-liquidity periods to enhance trade execution and minimize slippage.

🔻Strategic Grid Spacing:

• The minimum pip distance between grid trades prevents overtrading and reduces risk of clustering during ranging markets.

🔻Position Duration Control:

• Ensures positions do not remain open for too long, reducing overnight risk and exposure to volatile conditions.

🔻Unique Trade Identifier:

• A magic number ensures no conflicts with other expert advisors (EAs) or manual trades on the same account.

Why Use IS Purple EA?

🔻Enhanced Risk Control:

• The combination of dynamic lot sizing, percentage-based stop losses, and strategic grid spacing makes it an excellent tool for risk-managed trading.

🔻Consistent Performance:

• Optimized for low drawdowns and steady profits, making it ideal for traders looking for consistent returns over time.

🔻High Adaptability:

• The EA’s adaptive lot sizing and time-based trading filters ensure it works effectively across different account sizes and market conditions.

🔻Ideal for All Accounts:

• Its conservative trading approach makes it suitable for both small personal accounts and larger prop firm challenges.

IS Purple EA Performance Review

🟢 GBP/USD Performance (Myfxbook Results)

• Initial Deposit: $100
• Total Gain: +742,198.25%
• Monthly Growth: 15.04%
• Maximum Drawdown: 1.55%
• Proven Track Record: Verified live performance on GBP/USD.

IS Purple EA Myfxbook Trading Results

🟢 XAU/USD Performance (Myfxbook Results)

• Initial Deposit: $100
• Total Gain: +1.76M%
• Monthly Growth: 16.57%
• Maximum Drawdown: 1.52%
• Proven Track Record: Verified live performance on XAU/USD (Gold).

IS Purple EA Myfxbook Signal Results

🟢 EUR/USD & XAU/USD Performance

• Initial Deposit: $100
• Total Gain: +335,110.32%
• Monthly Growth: 13.96%
• Maximum Drawdown: 0.94%
• Multiple Pair Verification: Verified results for Gold and EUR/USD pairs.

IS Purple EA Myfxbook Results

What’s Included in the Download Package?

🟥Source Code MQ4:

• IS Purple EA.mq4
• IS Purple EA 1.1.mq4
• IS Purple EA 1.2.mq4

🟥Experts:

• IS Purple EA.ex4
• IS Purple EA 1.1.ex4
• IS Purple EA 1.2.ex4

🟥Presets:

• Purple_Gold.set
• Purple_Major_Pairs.set

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How To Set Up EA

🔻The IS Purple EA is an advanced Expert Advisor (EA) designed for MetaTrader 4 (MT4), aimed at traders who prefer automated trading with adjustable risk management parameters. This EA is optimized for traders looking for consistent returns while controlling exposure through customizable settings.

IS Purple EA setting

♦️Step 1: Download IS Purple EA 1.2

• Visit the official website or trusted source to download the IS Purple EA 1.2 file compatible with MetaTrader 4 (MT4).

♦️Step 2: Install the Expert Advisor (EA)

1. Open MetaTrader 4.
2. In the File menu, select Open Data Folder.
3. Navigate to the MQL4 folder, then the Experts folder.
4. Copy the downloaded IS Purple EA 1.2 file into the Experts folder.

♦️Step 3: Activate the EA

• Restart MetaTrader 4.
• Go to the Navigator window (Ctrl+N).
• Under Expert Advisors, find IS Purple EA 1.2.
• Drag the EA onto the chart of your desired currency pair.

♦️Step 4: Set Up Key Parameters for Optimal Performance

• Risk: 0.01 (1% of account balance per trade)
• UseManualLot: false (EA will calculate lot sizes automatically)
• Lots: 0.01 (micro lot size for low-risk exposure)
• StopLossPercent: 10% (automatically closes if loss exceeds 10% of account balance)
• TakeProfit: 10 pips (target for short-term profit)
• Trailing Stop: 20 pips (locks in profit once price moves 20 pips in favor)
• TimeStart: 02:00 & TimeEnd: 23:00 (active trading hours)
• PipsStep: 26 (ensures significant price movement before placing trades)
• OpenTime: 10 (10-minute delay before opening new trade)
• Magic Number: 2023 (unique identifier for trades)

♦️Step 5: Enable Automated Trading

• Make sure that AutoTrading is enabled in MetaTrader 4 by clicking the AutoTrading button at the top of the platform.

Conclusion

In summary, IS Purple EA stands out as a versatile and risk-managed Expert Advisor, offering a powerful hybrid strategy that combines scalping and grid techniques. With its dynamic lot sizing, percentage-based stop losses, and strategic grid spacing, IS Purple EA ensures a balanced approach to trading while maximizing short-term profits. The inclusion of a dynamic trailing stop, time-based trading filters, and position duration control helps maintain a favorable risk-reward ratio, allowing traders to capture consistent returns with minimized exposure to risk.
This EA is well-suited for both small personal accounts and larger trading setups, providing flexibility with its adaptive features. Its proven performance on major pairs like GBP/USD, EUR/USD, and XAU/USD (Gold) showcases its ability to deliver substantial gains with low drawdowns, as evidenced by verified MyfxBook results. Whether you’re a beginner or an experienced trader, IS Purple EA’s conservative yet effective trading approach can fit various trading styles and risk tolerances.

>>> Reviewed by Jason Stap <<<