The RealProfit pro.mq4 is a forex trading robot designed for MetaTrader 4 (MT4). It uses a combination of technical indicators, time filters, and money management rules to automate trading decisions. The EA claims to be a "RealProfit" system, suggesting it aims for consistent profitability with controlled risk.

How It Works

1. Core Trading Strategy

The EA employs a multi-indicator approach to generate trade signals:

Bollinger Bands (iBands) – Detects overbought/oversold conditions.

Williams' Percent Range (iWPR) – Confirms trend strength.

Awesome Oscillator (iAO) – Used as a trend filter (if enabled).

Simple Moving Average (iMA) – Acts as a dynamic support/resistance level.

Entry Conditions:

Buy Signal:

Price is near the lower Bollinger Band.

WPR confirms an oversold condition (below -80).

AO is above zero (if trend filter is on).

Price is above the MA (if MA filter is enabled).

Sell Signal:

Price is near the upper Bollinger Band.

WPR confirms an overbought condition (above -20).

AO is below zero (if trend filter is on).

Price is below the MA (if MA filter is enabled).

2. Money Management

Fixed Lot or Risk-Based Sizing:

If MoneyManagement = TRUE, it calculates lot size based on account balance/equity and risk percentage.

If MoneyManagement = FALSE, it uses a fixed lot size (Set_Lots).

Stop Loss (SL) & Take Profit (TP):

Adjusts SL/TP based on spread and market conditions.

Works differently for 4-digit vs. 5-digit brokers (scales SL/TP by 10x for 5-digit).

3. Time & Spread Filters

Trading Hours:

Only trades within user-defined hours (Set_StartHour to Set_EndHour).

Can auto-adjust for GMT differences (UseAutoGMT).

Spread Control:

Avoids trading if spread exceeds Set_MaxSpread.

Calculates average spread over time for better filtering.

4. Risk Controls

Maximum Daily Loss Protection:

Stops trading if daily losses exceed a threshold (based on AFMP).

NFA Mode:

If NFA = TRUE, it avoids opening multiple trades in the same direction.

5. Trade Execution & Management

Trailing Stop (if enabled):

Moves SL to lock in profits as trade moves favorably.

Invisible Mode:

If InvisibleMode = TRUE, it does not modify SL/TP visibly (useful for brokers rejecting SL/TP changes).

Slippage Control:

Uses Set_Slippage to manage execution delays.

Key Advantages

Multi-Indicator Confirmation

Reduces false signals by requiring multiple indicators to align.

Flexible Money Management

Supports fixed lots or risk-based sizing (percentage of account).

Spread & Time Filters

Avoids bad market conditions (high spread, off-hours).

Broker Compatibility

Works on both 4-digit & 5-digit brokers (auto-adjusts SL/TP).

Protection Features

Max Daily Loss Limit (AFMP).

NFA Compliance Mode (no hedging).

No Expiry (Unlocked)

Unlike some EAs, this version does not expire (no hardcoded time lock).

Potential Weaknesses

Over-Optimization Risk

Some parameters (like P01 = 12) seem arbitrary—may be curve-fitted.

Complex Logic

Hard to debug due to poor variable naming (e.g., gi_224, gd_332).

No Clear Trend-Following Mechanism

Relies on mean-reversion (Bollinger Bands + WPR), which may struggle in strong trends.

Hidden Code Sections

Contains obfuscated strings (e.g., I_B_A, I_B_B)—possibly license checks or anti-tampering.

No Recovery System

Loses will not trigger a martingale/grid recovery.

Conclusion

The RealProfit pro EA is a Bollinger Bands-based scalper with strong risk management and time/spread filters. It is best suited for ranging markets and traders who prefer low-risk, controlled strategies.

Recommended for:

✔ Conservative traders

✔ Forex pairs with low spreads (EURUSD, GBPUSD)

✔ Short-term (M15-H1) timeframes