Algotrader Germany Samples: Free MT4/MT5 Expert Advisor

Overview

The robot identifies entries based on price breaking through the highest high or lowest low of a defined lookback period. Risk management is handled through percentage-based stop losses, take profits, and trailing stops. It also offers an optional exit strategy using the Parabolic SAR indicator. Lot sizing can be configured as a fixed amount or scaled according to the account balance. The provided README is minimal and focuses on installation rather than strategy details.

Donchian Channel breakout logic

Percentage-based risk management

Dynamic position sizing based on balance

Optional Parabolic SAR exit strategy

Details

Author

algotrader-germany on GitHub

Type

Collection

Platform

MetaTrader 4 (MQL4) and MetaTrader 5 (MQL5)

Strategy

Breakout, Trend following

Markets

Any symbol

Timeframes

Any timeframe

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

Source

github.com/algotrader-germany/samples

Input parameters

Read from donchian.mq5. Defaults are the author's; change them in the EA's Inputs tab.

Name	Type	Default
`fixedLots`	`double`	`0.0`
`accountBalancePerLot`	`double`	`2000.0`
`trailingStopPercent`	`double`	`0.2`
`initialStopPercent`	`double`	`0.6`
`profitLockIn`	`bool`	`true`
`useSARForExit`	`bool`	`false`
`sarStep`	`double`	`0.02`
`sarMax`	`double`	`0.2`
`takeProfitPercent`	`double`	`5.0`
`period`	`int`	`250`
`loglevel`	`int`	`0`
`myMagic`	`int`	`20201229`

How to install it

1Download the sourceUse "Download source (.zip)" above, or clone algotrader-germany/samples from GitHub, and unzip it.

2Open the data folderIn MetaTrader choose File, then Open Data Folder, and go to MQL4/Experts or MQL5/Experts.

3Copy the filesCopy the .mq4 / .mq5 file into Experts.

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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