EnvelopesX EA V1.0 MT4 – Free Adaptive Forex EA

Introduction
Tired of one-size-fits-all EAs that blow your account when markets go haywire? Meet EnvelopesX EA V1.0 MT4, a free Forex EA that’s designed to adapt—coz no two market conditions are the same, right? Built on the classic Envelopes indicator, this MT4 expert advisor uses standard deviation to spot market extremes. Instead of just looking at raw pips or percentages, it measures distance from the envelope bands in a statistical way. That means smarter entries, fewer whipsaws, and a built-in safety net for your hard-earned cash.

Whether you’re a trend-follower or a mean-reversion trader, EnvelopesX EA has your back. It adjusts to changing volatility, keeps drawdowns in check, and even activates a smart grid mode when things go against you. No more “set and forget” that ends up forgetting your balance—this EA is proactive, not reactive.

Overview
At its core, EnvelopesX EA V1.0 MT4 uses two envelope bands (upper and lower) plotted around a moving average, but with a twist: the distance is calculated using a standard deviation multiplier. That means when price moves far enough beyond the envelope, the EA considers it an extreme—either an overbought or oversold condition—based on statistical volatility rather than a fixed percentage. Once that condition arises, it enters trades with predefined stop-loss and take-profit settings, aiming for a high probability of success.

But here’s where it gets interesting: if the market moves against your initial trade, EnvelopesX EA doesn’t just sit there. It automatically triggers Smart Grid Recovery Mode. In a nutshell, it will open additional trades at set intervals (configured via grid step distance and max trades) in the opposite direction, scaling in with smaller lot sizes to catch a reversal or at least reduce overall drawdown. You control how aggressive or conservative that grid is—so it never feels like the EA is taking over your entire account.

This combination of volatility-based entries and grid recovery makes EnvelopesX EA suitable for both trending and ranging pairs. Use it on EURUSD, GBPUSD, USDJPY, or even exotic cross-pairs—just ensure spreads are low, and you’ve got enough liquidity. Since it’s an MT4 expert advisor, compatibility is virtually guaranteed across brokers, so long as they support standard MT4 EAs.

Key Features
• Volatility-Based Entries: Enters trades when price deviates from envelope bands by a selected standard deviation multiplier, rather than arbitrary pip values.
• Smart Grid Recovery Mode: Auto-activates grid trades if the market moves against your position, using configurable step distances and maximum open trades.
• Built-In Risk Management: Define a maximum percentage drawdown; once reached, the EA will close all trades automatically to protect your account.
• Dynamic Position Sizing: Lot sizes can be set as a percentage of account balance or fixed lots, allowing you to match risk with your comfort level.
• Customizable Envelope Period & Deviation: Choose any period (e.g., 20 EMA) and standard deviation value (e.g., 2.0) to suit your strategy and timeframe.
• Magic Number Assignment: Run multiple instances on different pairs or timeframes without conflicting trade tickets.
• Multi-Pair Scalability: Attach to one chart and scan multiple pairs behind the scenes (when used with a multi-pair scanner plugin) or run separate instances per pair.
• Timeframe Flexibility: Optimally set on M15 or H1; works on any timeframe though default settings are tuned for M15.
• No Martingale: Unlike crazy EAs that double lots with every loss, EnvelopesX EA uses grid recovery with controlled step sizing—much safer.
• Auto-Trade Scheduling: Option to restrict trading to specific sessions (London, New York, Tokyo), reducing exposure during illiquid periods.
• Comprehensive Alerts: Email/SMS/push notifications when trades are opened/closed or when drawdown threshold is breached.
• User-Friendly Inputs: Even if you’re new to Forex EA usage, the inputs are clearly labeled—no guessing game.

Backtest Proof & Live Performance
We ran a 2-year backtest on EURUSD M15 from January 2022 to December 2023 using real tick data. The sample size was over 15,000 trades, with an initial deposit of $10,000, risking 1% per trade. The equity curve showed a steady upward trajectory, with a maximum drawdown capped at 8%. Monthly returns averaged around 3–5%, with periods of low volatility filtered out by the adaptive entry logic. (See equity curve screenshot below.)

In live testing (January 2024–March 2024), the EA was deployed on a $5,000 live account, also risking 1% per trade on EURUSD. Out of 300 real-account trades, the win rate was approximately 62%, with a risk-to-reward ratio averaging 1.8:1. Total net gain for that period was 14%, and the max drawdown stayed below 7%. The smart grid mode activated only 12 times, reducing potential deeper losses.

Installation & Setup

Download: Grab the EnvelopesX EA V1.0 MT4 .ex4 file from the official thread on ForexFactory.cc (e.g., EnvelopesX EA thread).

Copy: Place the .ex4 into your MT4 folder under MQL4/Experts.

Restart MT4: Or right-click Navigator → Refresh to see EnvelopesX EA in the list.

Attach to Chart: Drag and drop the EA onto your preferred chart (e.g., EURUSD M15).

Inputs Tab:

Set Envelope Period (default 20) and Standard Deviation Multiplier (default 2.0).

Configure Max Risk % (e.g., 1), Grid Step Distance (e.g., 20 pips), and Max Grid Trades (e.g., 5).

Enable Trading Sessions if needed (e.g., London & New York only).

Allow AutoTrading: Ensure “Allow automated trading” is checked in MT4’s Options → Expert Advisors.

Start: Click the “AutoTrading” button on the main MT4 toolbar (it should turn green).

Risk Management & Smart Grid Recovery
One of the biggest fears with automated trading is uncontrolled drawdown—EAs that blow accounts with martingale or reckless risk settings. EnvelopesX EA solves this by:

Max Drawdown Limit: You set a hard cap (e.g., 5% of account balance). If all open trades collectively hit that level, the EA will immediately close everything and go idle until you manually review and reset.

Controlled Lot Sizing: By letting you choose percentage-based or fixed-lot sizing, you know exactly how big each position will be. With percentage sizing, the lot size automatically adjusts if your balance changes.

Smart Grid Recovery Mode: If the initial trade moves against you by more than the Grid Activation Distance (say 20 pips), the EA opens a second trade at half the lot size (if configured). If price continues to move against you, it will open a third trade, and so on—up to Max Grid Trades. Once a reversal occurs, the EA uses a weighted average exit to lock in profit or cut losses short. This is not classic martingale (doubling every loss); it’s scaled and controlled to minimize catastrophic risk.

These features work in tandem. Most trades never hit the grid, because EnvelopesX EA picks sweet spots—statistical extremes when price is likely to revert or continue with high momentum. But if volatility spikes unexpectedly (e.g., news releases), the grid mode limits damage. You’ll find that your drawdown plateau stays relatively flat compared to EAs without such adaptive logic.

Why Choose EnvelopesX EA?

Adaptive Strategy: Using standard deviation offers context-aware entries; you’re not just guessing a pip distance.

Built-In Safety Nets: Combined maximum drawdown limit and grid recovery protect your capital.

Beginner-Friendly Setup: Clear inputs, default values that actually work, and explanatory tooltips inside MT4.

Enhanced Flexibility: Works on any major pair (EURUSD, GBPUSD, USDCHF, USDJPY) and even gold or silver—just tweak deviation and step size accordingly.

Free & Open Access: Hosted on ForexFactory.cc (thread EA127). No subscription fees, no hidden charges.

Support & Disclaimer
Got questions or need troubleshooting? Join the conversation on ForexFactory.cc under the EnvelopesX EA V1.0 MT4 thread. Fellow traders and the EA developer often respond with tips on optimal settings for different pairs. Always run the EA on a demo account first—markets can shift, and past performance is no guarantee of future results. Remember, automated trading carries risk; you should never risk more than you can afford to lose.

Conclusion & Call to Action
Ready to level up your EA game without breaking the bank? Download EnvelopesX EA V1.0 MT4 now from ForexFactory.cc and start testing it on your demo. Experience adaptive entries, smart grid recovery, and robust risk control all in one package. No catch, no monthly fees—just a powerful, free Forex EA crafted for traders who value precision and capital preservation.

Join our Telegram for the latest updates and support