This MetaTrader 4 expert advisor functions as an automated trading robot using the Average Directional Index (ADX) to identify trend strength and direction. It executes trades based on ADX crossovers and specific level thresholds. The EA provides essential risk management tools, including stop loss, take profit, and a
Trading robot · MT4
Algo 01
Algo 01 is a MetaTrader 4 expert advisor that executes trades based on moving average crossover signals.
GitHub stars1
Forks0
Last update6 years ago16 Aug 2020
LicenceNone stated
Overview
Algo 01 references an external custom indicator path for signal generation and allows users to define fast and slow moving average periods for its logic. The robot includes risk management features such as percentage-based position sizing, fixed pip-based stop loss and take profit levels, and a specific reward-to-risk ratio. It also features trade frequency filters to prevent opening new positions within a certain number of candles or hours from the last trade. The repository does not include a README.
- Moving average crossover signals
- Percentage-based lot sizing
- Fixed or percentage stop loss
- Order frequency limiting logic
Details
Author
expdal3 on GitHub
Type
Trading robot
Platform
MetaTrader 4 (MQL4)
Strategy
Indicator crossover, Trend following
Markets
Any symbol
Timeframes
M15-H1
Risk profile
No grid, martingale or hedging logic was found in its code or README. That says nothing about how it performs: backtest it first.
EA files
Input parameters
Read from Algo_01.mq4. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
Main1 | string | ---General settings--- | |
MACrossSignalTimeFrame | ENUM_TIMEFRAMES | PERIOD_H1 | |
MACrossIndiPath | string | CustomIndi\\Trend and stochastics\\MACrossIndi | |
IsTradingAllowed | bool | false | IsTradingAllowed |
FixProfitPips | int | 500 | |
FixStopPips | int | 600 | |
EATimeframe | int | PERIOD_H1 | Seting the Timeframe which the the EA MA will be drawn on |
Main2 | string | ---Risk Management Placing Order--- | |
UsePercentStop | bool | True | |
UsePercentTakeProfit | bool | True | |
RiskPcnt | int | 2 | |
Reward_ratio | double | 2 |
Show all 19 inputs
| Name | Type | Default | Description |
|---|---|---|---|
Main3 | string | Positions management 1: No new order after a newly opened po | |
UseLimitOrder | bool | true | |
LastOrderLimit | int | 18 | number of candles from the last opened order |
FastMA | int | 5; extern int FastMAShift=0; extern int FastMAMethod=1; exte | |
SlowMA | int | 21; extern int SlowMAShift=0; extern int SlowMAMethod=1; ext | |
BarsToCheckRecentMACross | int | 10 | number of bars to lookback for recent MA cross |
HourFromLastPosition | int | 2 |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone expdal3/mql4-ea-algo01 from GitHub, and unzip it.
- 2Open the data folderIn MetaTrader choose File, then Open Data Folder, and go to MQL4/Experts.
- 3Copy the filesCopy the .mq4 file into Experts, and any .mqh files into the Include folder the code expects.
- 4Compile in MetaEditorOpen the file in MetaEditor and press Compile. Fix any missing includes the compiler reports.
- 5Test before you tradeRun it in the Strategy Tester, then attach it to a demo chart and allow algorithmic trading.
Third-party code. ForexR did not write, test or endorse this EA, and the summary above was generated automatically from its README and code. ForexR lists only repositories with readable source code and never hosts files. Read the code, backtest it and use a demo account first; automated trading can lose money quickly.
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