Who this EA is designed for
The main audience is a prop firm candidate who needs to respect daily and maximum drawdown rules while still trading actively. If you have passed an evaluation before and failed on risk limits, or if you simply prefer a system that cuts losing trades early, this tool is aimed at you. It is less suitable for traders who want long swing positions or who prefer to let trades breathe over several days — everything here happens on the one-minute chart.
Because the prescribed position sizing assumes a $5,000 starting balance and 1:20 leverage, the account requirements are not flexible. A smaller account would either need manual lot adjustment or would take positions disproportionate to its equity. The vendor markets it as a way to handle the constraints of evaluation programmes such as FTMO or MFF, which typically reward consistency over large gains.
Mechanics of the trading approach
Entries are generated from a combination of three Elliott Wave strategies and two additional proprietary models. The software then uses a Fibonacci speed resistance fan to confirm support and resistance zones before executing. That means signals are not simply price breaks or indicator crossovers; the EA is looking for a convergence between wave structure and Fibonacci geometry before it commits capital.
Every trade carries a take profit and a stop loss from the moment it is opened. A trailing stop then manages the position as it moves in the desired direction. More importantly for prop firm conditions, there is a forced exit parameter that closes all orders when a drawdown threshold is hit. The default is set to a 3% maximum drawdown, which aligns with common evaluation account rules. That forced exit is a hard parameter, not a suggestion — once triggered, the EA stops trading until it is reset.
Instruments, timeframe and files
The EA is installed on MetaTrader 4 only and operates on the M1 timeframe. The recommended instruments are GBPUSD, EURNZD, EURAUD and GBPCAD. Set files are provided for each of these pairs, so the user does not need to tune the parameters manually. The package also includes a news filter indicator named urdala_news.ex4, which can be used to prevent the EA from trading around scheduled high-impact events. This is a practical addition for a one-minute system, where spreads and slippage spike during news releases.
The license is a NoDLL / Fix model. In practice this means the EA files are locked to a specific account or terminal configuration and cannot be copied freely across multiple live accounts. Source code is not included. Users should expect to request a licence update if they move the EA to a new broker or account number.
Account requirements and position sizing
The vendor states a minimum deposit of $5,000, with a lot size of 0.10 or 0.15 for every $100,000 of account balance. At 1:20 leverage, that is a deliberately conservative sizing model. On a $5,000 account the effective lot size would be approximately 0.005 to 0.0075 lots if you followed the same ratio, but the recommended starting point is a 0.10 lot. That discrepancy means the EA is really intended for accounts of at least $100,000, or for traders who are willing to ignore the vendor's suggested risk per trade on smaller balances.
Because the EA runs on M1, the choice of broker and execution type matters. High spread or slow execution accounts will degrade performance. The developer has not specified a single broker, but the documentation assumes a raw spread or ECN environment where one-minute scalping is viable. A standard retail account with fixed spreads may produce materially different results.
Drawdown control and forced exit
The forced exit at 3% drawdown is the defining risk feature. It is not a gradual de-risking mechanism; it is a hard stop that closes everything once equity falls by 3% from its peak. For prop firm challenges this is often exactly what is needed, since many evaluations fail at 4-5% maximum drawdown. However, the same feature can be frustrating on a live account where a temporary retracement triggers a full stop and leaves the EA idle until manual intervention.
The stop trailing and automatic TP/SL reduce the need for constant monitoring, but they do not eliminate risk. A losing streak can still occur, and the 3% drawdown limit does not guarantee the EA will not suffer smaller but repeated losses that accumulate over time. Users should test the EA on a demo account with the exact pair, timeframe and leverage they intend to use before committing real funds.
