Incognito EA V1.23 MT5 – The Ultimate Forex Trading Robot for Major Pairs & Indices

By: Swarnalata

Published on: Apr 01, 2025

Incognito EA V1.23 MT5 – The Smart Way to Trade Forex & Indices

Automated trading is revolutionizing Forex markets, and Incognito EA V1.23 MT5 is a powerful Expert Advisor (EA) designed for MetaTrader 5. This EA specializes in trading AUDUSD, GBPUSD, USDCHF, USDJPY, US30 (Dow Jones), USTEC (Nasdaq), and US500 (S&P 500) on M1 and M30 timeframes, making it ideal for both scalpers and short-term traders.

With a minimum deposit of just $100, this EA offers an accessible entry point for traders looking to automate their strategies. In this guide, we’ll cover:

✔ What is Incognito EA V1.23 MT5?
✔ Best Currency Pairs & Timeframes
✔ Key Features & Benefits
✔ How to Install & Optimize
✔ Free Download & Performance Tips

Why Choose Incognito EA V1.23 MT5?

This EA is optimized for fast execution and high accuracy, making it perfect for:
✅ Scalping (M1 charts) – Quick trades with small profit targets
✅ Short-term trading (M30 charts) – Capturing intraday trends
✅ Multi-asset trading – Works on Forex pairs & US indices

Key Features of Incognito EA V1.23 MT5

Optimized for Fast Markets – Works best on M1 & M30 charts
Low Minimum Deposit ($100) – Accessible for beginners
Multi-Asset Support – Trades Forex & US indices
Smart Risk Management – Adjustable stop-loss & take-profit
High Win Rate – Backtested for consistent performance

Latest Upgrade (V1.23) Improvements

✔ Faster execution – Reduced slippage on M1 scalping
✔ Improved trend detection – Better entries on US indices
✔ Reduced drawdown – More stable equity growth

How to Install & Set Up Incognito EA V1.23 MT5

Step 1: Install on MetaTrader 5

Open MT5 → File → Open Data Folder

Go to MQL5 > Experts → Paste the .ex5 file

Restart MT5

Step 2: Attach to a Chart & Configure

Drag & drop the EA onto AUDUSD M1 (or your preferred pair)

Adjust settings:

Lot Size: 0.01- $100, 0.1 -$ 1000 (risk-adjusted)

Stop Loss: 30-50 pips (for M30 trading)

Take Profit: 15-20 pips (for M1 scalping)

3. Enable AutoTrading (click the "Play" button)

Best Trading Strategies for Incognito EA V1.23 MT5

1. M1 Scalping (AUDUSD, GBPUSD)

Trades per day: 10-20

Profit Target: 5-10 pips per trade

Best Session: London/New York overlap

2. M30 Breakout Trading (US30, US500)

Holds trades for 2-4 hours

Uses ATR-based stops

Best Time: US Market Open (9:30 AM EST)

3. USDJPY Momentum Trading

Follows BoJ intervention trends

Works best during Asian session

Pro Tips for Best Results

✔ Run on a VPS – Ensures 24/5 uptime
✔ Start with $100 -$ 500 – Allows proper risk management
✔ Avoid high-impact news – Turn off EA during NFP, FOMC

Final Verdict – Is Incognito EA V1.23 MT5 Worth It?

Pros:

Works on 7 major pairs/indices

Optimized for M1 & M30

Low $100 minimum deposit

Free to download

Cons:

Not suitable for long-term trading

Requires VPS for best performance

Who Should Use This EA?

Scalpers looking for fast M1 trades

Day traders focusing on US indices

Beginners wanting automated trading

FAQ

❓ Is this EA free?
Yes, the V1.23 version is completely free.

❓ Can I use it on MT4?
No, this EA is exclusively for MT5.

❓ What’s the recommended broker?
Use a low-spread ECN broker like IC Markets or Pepperstone.

❓ Does it work on Gold/XAUUSD?
No, it’s optimized only for the listed pairs & indices.

Conclusion

Incognito EA V1.23 MT5 is a high-performance trading robot for Forex and US indices. With its scalping & short-term trading edge, it’s perfect for traders who want automated profits without manual effort.