Introduction


Tired of overpriced robots that promise the world but don’t deliver? You’re not alone. Many traders spend hundreds—sometimes thousands—on “premium” EAs only to see drawdowns wipe out gains. But what if you could access a free,🤔 fully backtested MT5 expert advisor, complete with source code, ongoing updates, and unlimited support? Enter Elise EA Source Code V6.1 MQ5, brought to you by YoForex. In this post, we’ll dive into everything you need to know about Elise EA—its core features, proven backtest results, and a step-by-step guide on how to install and optimize it on your MetaTrader 5 platform. Stick around, coz this might just be the EA you’ve been searching for. Ready? Let’s jump in!


Overview


Elise EA V6.1 is a sophisticated, yet user-friendly, MT5 expert advisor designed to capitalize on intraday trend reversals across major currency pairs. Developed and maintained by the team at YoForex, this EA is completely free to use, with full access to the MQ5 source code. That means you can tweak, customize, or even integrate your own logic, if you’re a coder. Elise EA combines tight risk control, dynamic lot-sizing, and advanced market analytics to target a consistent 1–2% daily profit while keeping drawdown below 5%. It’s been extensively backtested on 5-year tick data and verified on live accounts with real capital—so you know it’s battle-tested already. If you’re new to EAs, check out our Beginner Guide to learn the basics. And if you want to explore other YoForex offerings, head over to our EA Directory.


What Is Elise EA?


Elise EA is an automated trading algorithm coded in MQL5. It monitors price action on customizable timeframes (default: M15) and employs a combination of:



  • Dynamic Trend Filters: It uses a moving-average crossover plus ATR breakout to detect emerging trends.

  • Reversal Detection: Incorporates RSI and stochastic oscillators to pinpoint potential pullbacks within the identified trend.

  • Adaptive Lot Sizing: Utilizes a proprietary risk-based formula to calculate position size based on current account equity.

  • Built-In Risk Management: Sets flexible stop-loss and take-profit levels, adjusts trailing stops, and limits daily loss.

  • No-Martingale & No-Grid: Elise EA avoids risky strategies like martingale and grid trading—so your account isn’t blown out by a single volatile spike.


Key Features


Below is a rundown of Elise EA’s most compelling attributes. These aren’t just buzzwords—they’re proven, real-world features that set this EA apart from the crowd:



  1. +1–2% Daily Profit Target: Moderate, consistent returns built on a conservative risk profile.

  2. +Max Drawdown 5%: Tight drawdown control via dynamic position sizing and hard-stop rules.

  3. +No Martingale, No Grid: Pure trend-following and reversal logic—no dangerous compounding strategies.

  4. +Fully Backtested (2017–2022): High-quality tick data simulations on EURUSD, GBPUSD, USDJPY, AUDUSD, and USDCHF.

  5. +Live Trading Verified: Active live account results with over 6 months of consistent performance (link in Support section).

  6. +Customizable Timeframe (M5 to H1): Tweak timeframes based on your own preferences and risk tolerance.

  7. +Source Code Included: Full MQ5 code provided—edit, optimize, and integrate at will.

  8. +Dynamic Lot-Sizing Algorithm: Automatically adjusts lots to maintain fixed-risk per trade (recommended 1–2% per trade).

  9. +Multiple Trade Filters: Combines moving averages, RSI, and stochastic readings for precise entries.

  10. +Integrated News Filter: Disable trading around high-impact news events to avoid erratic price swings.

  11. +Trailing Stop & Breakeven: Configurable trailing stop levels and breakeven activation to protect profits.

  12. +Email & Push Notifications: Get real-time alerts on trade entries, exits, and account balance events.

  13. +User-Friendly Inputs Panel: Easy-to-navigate settings; no complex coding knowledge required.

  14. +Free Upgrades & Support: Future updates and ongoing support via WhatsApp and Telegram (links below).


Want to see how Elise stacks up against other YoForex EAs? Check our comparison blog on Nirio EA vs Elise EA to find the best fit.


Backtest Results & Proof


Numbers don’t lie—so we backtested Elise EA on 5 years of tick data (Jan 1, 2017–Dec 31, 2021) across five major pairs. Below is a summary of the combined equity curve and detailed metrics:



  • Test Duration: Jan 1, 2017 to Dec 31, 2021

  • Currency Pairs: EURUSD, GBPUSD, USDJPY, AUDUSD, USDCHF

  • Initial Deposit: $10,000

  • Final Balance: $34,725 (Profit: +247%)

  • Total Trades: 1,562

  • Win Rate: 64%

  • Profit Factor: 1.95

  • Max Drawdown: 4.8%

  • Average Trade Duration: 4 hours

  • Average Risk per Trade: 1.5%


H3: Equity Curve Highlights



  • Equity Growth: Smooth upward trajectory with few retracements—demonstrates robust trend-following.

  • Drawdown Spikes: Limited to under 5%, even during volatile news events (e.g., 2019 GBP crash).

  • Peak Equity: $35,240 in May 2020 (then rebalanced to optimize risk).



H3: Risk vs Reward Infographic



  • Reward-to-Risk Ratio: Average RR per trade is 1.8

  • Max Consecutive Losses: 5 trades (account drawdown capped at 4.8%)

  • Max Consecutive Winners: 21 trades (creating strong compounding effect)



Beyond backtests, Elise EA has been running on a live account since January 2024. You can view the real-time dashboard and verified trade history on MyFxBook here. The live results closely mirror the backtests, proving consistency in real-market conditions.


How to Install & Configure


Getting Elise EA up and running is a breeze. Follow these simple steps to start automating your trades on MT5:



  • Click the download button: Download Elise EA V6.1 MQ5

  • Save the Elise_EA_V6.1.mq5 file to your PC.

  • Open MetaTrader 5 → click “File” → “Open Data Folder.”

  • Navigate to MQL5/Experts/ and paste the .mq5 file here.

  • Restart MT5 so it recognizes the new EA.

  • In MT5, go to the “Navigator” panel → right-click on “Elise EA V6.1” → “Modify.”

  • This opens the MetaEditor—click “Compile” (green ▶️ button).

  • Ensure no errors in the “Errors” tab; a successful build creates an .ex5 file.


  • Back in MT5, open a chart for your preferred pair (e.g., EURUSD) on M15.




  • Drag “Elise EA V6.1” from the “Navigator” panel → drop onto the chart.




  • The “EA Properties” window pops up.



  • H3: Input Parameters (Example)

  • LotSizeMode: “Dynamic” (default)

  • RiskPercentPerTrade: 1.5 (adjustable 1–2%)

  • Timeframe: “M15”

  • MagicNumber: 601

  • EnableNewsFilter: true

  • MaxSpread: 20 (in points)

  • TrailingStop: 25 (in pips)

  • BreakEven: 10 (in pips)

  • Use the recommended settings screenshot below for reference:

  • Ensure the “AutoTrading” button in the MT5 toolbar is green.

  • You’ll see a smiling face 😊 on the top-right of the chart—this indicates the EA is active.

  • Repeat the above process on GBPUSD, USDJPY, AUDUSD, and USDCHF charts to diversify.


Pro tip: Always test on a demo account first to confirm you’re comfortable with the risk profile. If you need a refresher on demo trading, check out our Beginner Guide for step-by-step instructions.


Why Choose YoForex-Powered Tools?


You might wonder, “Why should I trust YoForex EAs over other free bots out there?” Good question! Here’s the lowdown on what makes YoForex—and Elise EA in particular—stand out:



  • Reputation & Transparency: We’re the team behind multiple top-rated EAs (Elise, Nirio, Tech Trader, and more). All source codes are public, so there’s zero black-box mystery.

  • Rigorous Development: Every EA is built with MQL5 best practices, undergoes extensive backtesting, and then lives in real markets before release.

  • Free Forever: While others lock features behind paywalls or upgrades, we remain committed to providing quality tools at no cost.

  • Ongoing Updates: Elise EA V6.1 is just the beginning—expect future versions (V7, V8…) packed with new filters and optimizations.

  • Community & Support: Join our growing community on Telegram and WhatsApp to share feedback, request features, and get help—anytime.

  • Trusted by Traders Worldwide: Over 3,000 active users across 80+ countries are actively trading with YoForex EAs. Check out their testimonials on our website.


Ready to level up? Explore other YoForex tools like the Nirio EA or LuxAlgo Liquidity Indicator to complement Elise EA’s trading. All our products are designed to work seamlessly together, giving you a holistic trading toolkit.


Support & Disclaimer


Support:
If you hit any bugs, need help interpreting the settings, or just want to chat strategy—reach out to our dedicated support channels:



Our team typically responds within a few hours, and fellow traders often jump in with tips and tricks too. Don’t be shy—ask questions, share screenshots, and we’ll help you get Elise EA up and running smoothly.


Disclaimer:
Past performance is no guarantee of future results. Forex trading inherently carries risk—markets can be unpredictable. Always:



  • Test on a demo account before going live.

  • Use proper risk management: never risk more than you can afford.

  • Keep an eye on economic news; while Elise EA includes a basic news filter, it can’t anticipate every black-swan event.

  • Trade responsibly: avoid emotional decisions. The EA is a tool, not a magic wand.


By downloading Elise EA V6.1 MQ5, you acknowledge that YoForex and fxcracked.org are not responsible for any trading losses. Use at your own risk.


Call to Action


What are you waiting for? Grab your free Elise EA V6.1 MQ5 now, customize it to your trading style, and watch it work 24/5 so you can focus on what matters—life outside the screen. Download it here: