How to Download Boring Pips EA MT4 (2026 Guide)

Last updated: February 2026 • Latest Version analysis

30 Second Overview of Boring Pips EA

Boring Pips EA is a fully automated forex trading system for MetaTrader 4 that combines deep-learning momentum detection with supply and demand zone analysis across four timeframes. Developed by Thi Thu Ha Hoang (known as Andy) — a Vietnamese algorithmic trader who manages a hedge fund based in Japan and New Zealand — the EA is built around a core philosophy: avoid overfitting at all costs, and prove it with years of live results.

The philosophy: The name says it all. Boring Pips is designed to be boring — no flashy win rates, no overnight millions, no dangerous recovery mechanisms. It trades AUDNZD, NZDCAD, and AUDCAD on M5, looking for moments when price momentum exhausts at supply/demand zones across multiple timeframes. The developer has written extensively about the overfitting problem in EA development and built a three-stage anti-overfitting optimisation process that is genuinely more rigorous than what most competitors offer. His rule: never use an EA without at least 5 months of live results or 300 tracked trades.

The developer: Thi Thu Ha Hoang started trading forex in 2014, switched to quantitative trading in 2018, and began managing funds around 2020. He developed Boring Pips to eliminate the psychological factors he encountered as a discretionary trader. His MQL5 portfolio includes Boring Pips (MT4 and MT5) and Dynamic Pips (MT4 and MT5), with live signals running on all products. He’s well-known in the MQL5 community for responsive support and educational blog posts about overfitting prevention.

How it works: The EA runs a 4-step automated process. First, it scans for supply and demand zones where price is likely to react. Second, a deep-learning algorithm monitors momentum across 4 timeframes to detect exhaustion. Third, trades are entered when momentum dies at a previously identified zone, predicting a reversal. Fourth, positions are managed using probability-based exit logic with fixed stop loss and trailing take profit. The system is multi-currency — one chart handles up to 3 pairs simultaneously.

The numbers: MT4 and MT5 versions available, priced at $599 on MQL5 (periodically discounted to $399), with 4.54★ from 18 MQL5 reviews on MT4 and 4.82★ from 44 reviews on MT5 — making it one of the most reviewed EAs on the marketplace. The verified MQL5 Medium Risk signal shows +1,407% growth over 172 weeks on IC Markets with a 2.34 profit factor, 67.8% win rate across 969 trades, and a 25.12 recovery factor. The separate Low Risk signal shows +165% over 125 weeks with 22% max equity drawdown. The 2010–2023 backtest on 100% real ticks returned a 2.98 profit factor across 8,079 trades with 7.53% max drawdown.

Our call: Boring Pips has one of the longest and most transparent live track records of any EA on MQL5. Over 172 weeks of verified Medium Risk trading on IC Markets — not a no-name broker — with 1,407% growth is the kind of evidence that makes most competitors look like science projects. The developer maintains multiple signals at different risk levels, writes educational content, and has earned genuinely positive reviews from long-term users. The concerns are real but measured: the Medium Risk signal carries 37.8% max equity drawdown (not small), and grid/martingale are technically available as optional settings. At $169.95 through CheaperForex (MQL5: $599), it’s one of the best value propositions in automated forex trading.

Rating: 4/5 ⭐⭐⭐⭐ — Established Multi-Pair Momentum EA With 3+ Years of Verified Live Results

The Developer: Thi Thu Ha Hoang (Andy)

Thi Thu Ha Hoang (MQL5 username: tai_hoang), known to his community as Andy, is a Vietnamese algorithmic trader who currently manages a hedge fund based in Japan and New Zealand. He started trading forex in 2014, transitioned to quantitative and algorithmic trading in 2018, and took on the fund management role around 2020.

What sets Andy apart from most MQL5 developers is his emphasis on education. He has published detailed blog posts on MQL5 covering the overfitting problem in EA development — not generic marketing content, but technical articles explaining in-sample/out-of-sample testing, walk-forward analysis, and stress testing methodology. This isn’t typical behaviour for someone trying to sell a trading robot; it’s the kind of content you’d expect from someone who genuinely understands what makes an EA fail in live trading versus succeed in backtesting.

His current MQL5 product and signal lineup:

The Boring Pips ecosystem has earned 62+ reviews across both platforms — making it one of the most community-validated EAs on the MQL5 marketplace. Long-term users consistently praise the EA’s reliability, the simplicity of its setup, and Andy’s responsiveness to questions. Multiple reviewers specifically mention using it on prop firm accounts.

A note on Dynamic Pips: The Dynamic Pips signal is currently showing -19% growth with 40% drawdown after 35 weeks. This is Andy’s newer product, designed for volatile geopolitical markets. The negative result doesn’t invalidate Boring Pips — they’re different strategies — but it’s worth noting that not everything the developer touches turns to gold. The Boring Pips signals, by contrast, have been running profitably for 2–3+ years.

How Boring Pips Trades

Boring Pips uses a hybrid AI + classical strategy approach that combines deep-learning momentum analysis with supply/demand zone detection and Fibonacci retracement. Here’s how the 4-step process works:

Step 1 — Zone Detection: An algorithm continuously scans for supply and demand zones — price levels where historical buying or selling pressure has created zones likely to produce reactions. These aren’t static lines drawn once; they’re recalculated as price develops.

Step 2 — Momentum Analysis: This is where the AI component operates. A deep-learning algorithm monitors price momentum across 4 timeframes simultaneously. It’s looking for synchronised momentum exhaustion — moments when price is losing steam across multiple timeframes at the same time, typically near a previously identified supply or demand zone.

Step 3 — Trade Entry: The EA enters a trade when momentum dies at a supply or demand zone, predicting a reversal. This is a mean-reversion approach at its core — the system expects price to bounce from zones of exhaustion. Entries come with a fixed stop loss.

Step 4 — Trade Management: Open trades are managed using probability distribution rules. The system uses trailing take profit to maximise winning trades and fixed stop losses to cap losses. The exit logic aims to extract the most value from each entry’s statistical edge.

Multi-Currency Operation: Boring Pips is a multi-currency EA — you install it on one chart and it trades up to 3 pairs from that single instance. The optimised pairs are AUDNZD, NZDCAD, and AUDCAD. The live signal confirms roughly equal distribution across all three: ~333, ~324, and ~310 trades respectively out of 969 total.

Trade Frequency: The EA averages 18 trades per week on the Medium Risk signal, with an average holding time of 3 days. This is low-frequency swing trading, not scalping. Some weeks will be busier than others — the signal history shows periodic “no trading activity” warnings during quiet market phases, which is the system working as designed.

Important Note on Grid/Martingale: The MQL5 product listing states that grid and martingale are “optional” features. The developer’s default settings and recommended presets do not use these, and the live signals appear to operate without them. However, the fact that they exist as configurable options means users can enable dangerous position-sizing strategies. Our recommendation: leave them off. The live results were achieved without them.

Live Signal Performance

The developer maintains two verified live signals for Boring Pips on MQL5 — a Medium Risk and a Low Risk account. Both are running on mainstream brokers with full trade history available for verification. The Medium Risk signal is the primary reference, running continuously since 2022.

Medium Risk Signal — 172 Weeks (IC Markets)

Metric	Value
Platform	MQL5 Signals (verified)
Signal Age	172 weeks (~3.3 years)
Growth	+1,407%
Initial Deposit	$100
Current Equity	$1,416.81
Current Balance	$1,530.66
Profit	$1,422.07
Total Trades	969
Win Rate	67.80% (657 wins / 312 losses)
Profit Factor	2.34
Recovery Factor	25.12
Expected Payoff	$1.47 per trade
Max Equity Drawdown	37.81%
Max Balance Drawdown	6.71%
Avg Profit / Avg Loss	$3.78 / -$3.40
Max Consecutive Wins	22
Max Consecutive Losses	4
Trades Per Week	18
Avg Holding Time	3 days
Max Deposit Load	12.07%
Long/Short Split	42.93% Long / 57.07% Short
Monthly Growth	2.88%
Algo Trading	99%
Broker	ICMarketsSC-Live33 (1:500)
Pair Distribution	AUDCAD: 333 / AUDNZD: 324 / NZDCAD: 310

Low Risk Signal — 125 Weeks (RoboForex)

Metric	Value
Growth	+165%
Signal Age	125 weeks (~2.4 years)
Initial Deposit	$500
Current Equity	$1,238.44
Total Trades	585
Win Rate	63.76%
Profit Factor	1.98
Recovery Factor	12.94
Max Equity Drawdown	22.07%
Max Balance Drawdown	6.87%
Monthly Growth	1.31%
Annual Forecast	15.87%
Algo Trading	100%
Deposits/Withdrawals	None — clean account
Broker	RoboForex-Pro (1:1000)

What’s Encouraging

Signal maturity is exceptional. 172 weeks on the Medium Risk signal (started June 2023, trading since late 2022 per growth label) makes this one of the longest-running verified EA signals on MQL5. Most EAs don’t survive 6 months of live trading. Boring Pips has survived over 3 years.

IC Markets as broker. The main signal runs on IC Markets — a major, well-regulated, institutional-grade broker. This eliminates concerns about cherry-picked fills or exotic broker conditions.

Two signals at different risk levels. The Medium Risk signal shows what the EA can do with higher position sizing (1,407% growth, 37.8% DD). The Low Risk signal shows a more conservative profile (165% growth, 22% DD, $500 deposit). Having both gives traders a realistic preview of what to expect at different settings.

Balanced pair distribution. The signal trades all three pairs almost equally (333/324/310 trades). No single pair dominates, which means the system isn’t dependent on one currency dynamic.

Balanced directional split. Unlike many EAs that have extreme directional bias, Boring Pips runs 43% long and 57% short — genuinely bi-directional.

What’s Concerning

37.8% max equity drawdown on Medium Risk is substantial. That means at its worst point, the account was down nearly 38% from equity peak. While the 6.71% balance drawdown looks tidy, it’s the equity drawdown that matters — that’s the unrealised pain you’d actually experience. Traders with lower risk tolerance should use the Low or Boring risk presets.

Small initial deposit on main signal. The Medium Risk signal started with just $100. Showing 1,407% on $100 is less impressive than showing it on $10,000. Percentage returns on micro accounts can be achieved with position sizing that wouldn’t scale to larger capitals. The Low Risk signal’s $500 starting balance is somewhat better.

$8.59 deposit added. The Medium Risk signal shows an additional $8.59 deposit — small enough to be insignificant, but it means the account isn’t perfectly clean. No withdrawals have been made.

Backtest Results

The developer provides a detailed backtest spanning 2010 to 2023 using 100% real tick data from third-party providers (Tick Data Suite / Tickstory). This isn’t MetaTrader’s default modelling — it’s the highest-quality backtest data available.

Backtest Overview — 2010 to 2023

Metric	Value
Period	2010–2023 (13 years)
Starting Capital	$1,000
Total Net Profit	$87,675,588
Max Drawdown	7.53%
Profit Factor	2.98
Total Trades	8,079
Win Rate	~72.6%
Data Quality	100% real ticks

Important backtest context: The $87.6 million profit figure from a $1,000 starting balance uses aggressive compounding — the EA reinvests profits at an increasing rate. This makes for an impressive screenshot but doesn’t reflect realistic expectations. What matters more is the structural quality: 2.98 profit factor across 8,079 trades over 13 years with 7.53% max drawdown. These are the metrics that indicate genuine edge.

The 3-stage anti-overfitting process is particularly relevant here. The parameters were initially optimised on 2010–2019 data, then walk-forward tested on 2019–2022 data the system had never seen, then stress-tested with simulated noise and lag. This is rigorous methodology — and the fact that the live signal (running since 2022/2023) has continued performing broadly in line with the backtest profile suggests the anti-overfitting process works as advertised.

Backtest vs Live Comparison: Backtest win rate (~72.6%) is higher than the live Medium Risk signal (67.8%), which is normal and expected — live trading introduces slippage, spread variation, and market conditions that backtests can’t perfectly capture. The important thing is that the live metrics are in the same ballpark, not dramatically worse.

Risk Modes & Configuration

Boring Pips offers four risk modes, each progressively more aggressive. The developer recommends starting with Boring, Low Risk, or Medium Risk for the first 2–3 months.

Risk Mode	Characteristics	Best For
Boring	Lowest risk, fewest trades, smallest positions	Conservative traders, prop firms
Low Risk	~165% growth / 125 weeks, ~22% max DD	Long-term accounts, moderate risk tolerance
Medium Risk	~1,407% growth / 172 weeks, ~38% max DD	Growth accounts, higher risk tolerance
High Risk	Largest positions, highest potential DD	Aggressive compounding, experienced traders only

The developer also provides ready-to-use .set files for Low Risk and Medium Risk presets, included with the CheaperForex download package. The CheaperForex version additionally includes a custom profitable preset with performance improvements.

Settings & Requirements

Parameter	Detail
Platform	MetaTrader 4 (MT5 version also available)
Optimised Pairs	AUDNZD, NZDCAD, AUDCAD
Timeframe	M5
Multi-Currency	Yes — one chart trades up to 3 pairs
Minimum Deposit	$100 (recommended $500+)
Recommended Broker	ECN/Raw spread (IC Markets, Pepperstone, etc.)
Stop Loss	Yes — fixed on every trade
Take Profit	Yes — trailing
Grid	Optional (NOT recommended)
Martingale	Optional (NOT recommended)
VPS	Recommended for 24/5 uptime
Risk Modes	Boring / Low Risk / Medium Risk / High Risk
Prop Firm Compatible	Yes — built-in frequency modes for prop firm rules
Setup Time	1–2 minutes with preset file

How to Download Boring Pips EA MT4

There are two legitimate ways to purchase Boring Pips EA:

Feature	MQL5 Marketplace	CheaperForex
Price	$599	$169.95
Savings	—	~72% (~$429 saved)
Product	Official EA (.ex4)	Official EA (.ex4)
Updates	Automatic	Free lifetime updates
Preset Files	Available from developer	Custom profitable preset included
Installation Help	Developer support	Free remote installation via AnyDesk
Refund Policy	MetaQuotes policy	7-day money-back guarantee
Account Limits	8 activations	Unlimited accounts
Crypto Discount	No	Extra 20% off

Frequently Asked Questions

What currency pairs does Boring Pips trade?

The EA is optimised for three pairs: AUDNZD, NZDCAD, and AUDCAD. It trades up to 3 pairs from a single chart. The developer’s live signals trade these three pairs almost equally. GBPUSD has also been mentioned as compatible but is not part of the core optimisation. You can enter pair names with any broker-specific suffix or prefix.

Does Boring Pips use martingale or grid?

Both are listed as “optional” in the MQL5 product specifications — but the developer’s default presets and live signals do NOT use them. The live results (1,407% growth over 172 weeks) were achieved without grid or martingale. We strongly recommend leaving these options disabled.

Can I use Boring Pips on a prop firm account?

Yes. Multiple verified users report running Boring Pips on prop firm accounts. The EA includes built-in frequency modes and risk management settings that can be configured to meet prop firm drawdown limits. The “Boring” risk mode is specifically designed for conservative setups like prop firm challenges.

What’s the minimum deposit to run Boring Pips?

The EA can run on as little as $100, as demonstrated by the Medium Risk signal. However, $500 or more is recommended for stability and to allow proper position sizing across all three pairs. The Low Risk signal runs on $500 and provides a more realistic baseline for expectation setting.

How often does Boring Pips trade?

On the Medium Risk signal, the EA averages 18 trades per week across three pairs (roughly 6 per pair). Average holding time is 3 days. On Low Risk, it’s about 10 trades per week with a 4-day average hold. There will be periods of inactivity — the signal history shows occasional warnings of 6+ days without trades. This is normal; the system waits for qualifying setups.

Is a VPS required?

Not strictly required, but strongly recommended. The EA needs a stable internet connection and a running MetaTrader 4 instance 24 hours a day during trading days. A VPS ensures uninterrupted execution and prevents missed trades from disconnections or computer shutdowns.

What’s the difference between the MT4 and MT5 versions?

Same trading logic and strategy. The MT5 version is priced at $399 on MQL5 (vs $599 for MT4) and has more reviews (44 vs 18). Both share the same signal infrastructure. Choose based on which MetaTrader platform your broker supports. CheaperForex offers both versions at their respective discounted prices.

Our Assessment

Strengths

✅ 172 weeks of verified live trading on IC Markets — one of the longest MQL5 EA signal track records available

✅ 1,407% growth with 2.34 PF and 25.12 recovery factor on the Medium Risk signal — strong structural metrics

✅ Two live signals at different risk levels — transparent performance across conservative and aggressive settings

✅ 62+ reviews across MT4/MT5 — extensive community validation from long-term users

✅ 3-stage anti-overfitting optimisation — well-documented methodology (in-sample, walk-forward, stress test)

✅ Balanced pair and directional distribution — not dependent on one currency or one direction

✅ Prop firm compatible with built-in frequency and risk modes

✅ Developer responsiveness — consistently praised across reviews for fast, helpful support

Concerns

⚠️ 37.8% max equity drawdown on Medium Risk — this is a significant dip; traders need to understand what they’re signing up for

⚠️ Optional grid and martingale features — not used in live signals, but their availability could tempt inexperienced users into dangerous settings

⚠️ $100 starting balance on main signal — impressive percentage returns are easier on micro accounts; may not scale identically to larger capital

⚠️ Dynamic Pips signal at -19% — developer’s newer product is underperforming, which is relevant context

⚠️ Periodic inactivity — signal history shows recurring “no trading activity” warnings; this is by design but can be frustrating

Bottom Line

Boring Pips is exactly what its name promises — boring, in the best possible way. It doesn’t chase headlines or fake impressive backtests with unreplicable conditions. Instead, it trades three Oceanic cross pairs on M5 using a momentum-exhaustion strategy, and it’s been doing so profitably for over 172 weeks on IC Markets with a verified MQL5 signal. That kind of longevity is rare. The 1,407% growth figure grabs attention, but the real story is in the structural metrics: 2.34 profit factor, 25.12 recovery factor, 67.8% win rate across 969 trades, and a well-balanced distribution across pairs and directions. Add 62+ genuine reviews from long-term users, a developer who publishes educational anti-overfitting content, and a 3-stage optimisation process that demonstrably translates from backtest to live — and you have one of the more credible EAs on the MQL5 marketplace.

The concerns are real but context-dependent. The 37.8% equity drawdown on the Medium Risk signal is substantial — if that number makes you uncomfortable, use the Low Risk or Boring presets (the Low Risk signal keeps equity DD at 22%). The optional grid/martingale features shouldn’t exist in a product that markets itself on anti-overfitting principles, but they’re disabled by default and the live signals don’t use them. At $169.95 through CheaperForex versus $599 on MQL5, it’s a 72% discount on an EA with more verified live history than products costing three times as much. For traders who want a set-and-forget system with genuine long-term credibility, Boring Pips earns its reputation.