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BananaEA Version 5

Version 5 — FTMO Algo — is the BananaEA MT4 line built specifically for FTMO-style prop-firm challenges and similar funded-account programs. Its presets, Smart Risk Monitor, and trade-management workflow are designed around challenge rules: drawdown limits, profit targets, equity protection, and disciplined scaling—not around replacing Version 4 as a general “newer” build.

Version 4 — Dax Algo — is a separate stable MT4 line with its own documentation, presets, and Dax-oriented workflow. Both versions are stable and supported. Pick the line that matches what you trade, not which one is “newer.”

Two versions, different purposes
  • Version 5 (FTMO Algo) — prop-firm / FTMO-style challenges, Smart Risk Monitor, challenge-mode risk controls.
  • Version 4 (Dax Algo) — Dax-oriented automation with the established Version 4 preset and settings path.

Version 4 and Version 5 can run in the same MT4 terminal on separate charts with version-specific presets and intentional Magic Numbers. Do not load Version 4 .set files into Version 5, or the reverse.

Built For FTMO-Style Challenges​

Version 5 exists because funded-account trading is a different job than open-ended live automation. Challenge accounts impose daily and overall drawdown caps, profit objectives, consistency expectations, and hard stops when limits are breached. Version 5’s risk layer is built to help you operate inside those constraints while the EA manages entries, scaling, partials, and exits.

Start with Smart Risk Monitor for the challenge-oriented dashboard and protection features, then load an FTMO-oriented preset from Presets And Set Files.

What Version 5 Adds For Challenge Trading​

  • Smart Risk Monitor window for challenge-style risk tracking.
  • Challenge Mode progress compounding.
  • Progressive risk reduction and peak giveback protection.
  • Trailing high-water-mark drawdown control.
  • Weekly drawdown cap.
  • Consecutive loss circuit breaker.
  • Session profit lock.
  • Day-of-week trading controls.
  • Multi-level partial close: PC1, PC2, and PC3.
  • Exit templates after partial close.
  • Conditional scale-in modes.
  • Conditional trailing activation.
  • Pending order cancellation and lifecycle changes.
  • Version 5 presets that are not interchangeable with Version 4 presets.

Start Here​

  1. Install And Upgrade
  2. Quick Start
  3. Presets And Set Files
  4. Settings Overview
  5. Smart Risk Monitor
  6. Backtesting Version 5

Coexistence Rules​

  • Version 4 and Version 5 can be installed in the same MT4 terminal.
  • Run Version 4 and Version 5 on separate charts.
  • Use version-specific presets.
  • Use separate or intentionally planned Magic Numbers.
  • Do not load Version 4 .set files into Version 5.
  • Do not load Version 5 .set files into Version 4.

Version Details​

The Version 5 source currently reports release version 5.0 and build date 2026.04.30.

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