Arbitrage Expert: Free MT4 Expert Advisor

Overview

Based on the OGT Zone Recovery system, it manages trades by opening counter-positions within a defined price zone when an initial trade goes into drawdown. The system employs a lot multiplier to facilitate basket exits at a combined take profit level. Trading can be initiated manually or automatically using a multi-timeframe RSI strategy. Risk controls include an optional maximum loss in deposit currency, a trade timer, and dynamic zone adjustments.

Zone recovery hedging mechanism

Multi-timeframe RSI signal entry

Dynamic ATR-based zone sizing

Configurable lot size multiplier

Details

Author

wawaw237zz on GitHub

Type

Trading robot

Platform

MetaTrader 4 (MQL4)

Strategy

Hedging, Martingale, Mean reversion

Markets

Any symbol

Timeframes

Any timeframe

Risk profile

Uses martingale lot scaling: losses can grow fast
Holds opposite positions at once
Trades without a fixed stop loss

EA files

Locking System.mq4

Source

github.com/wawaw237zz/Arbitrage-Expert

Input parameters

Read from Locking System.mq4. Defaults are the author's; change them in the EA's Inputs tab.

Name	Type	Default	Description
`RecoverySettings`	`string`	`—`	ZONE RECOVERY SETTINGS
`RecoveryZoneSize`	`int`	`200`	Recovery Zone Size (points)
`TakeProfit`	`int`	`200`	Take Profit (points)
`MaxTrades`	`int`	`0`	Max Trades (0 for unlimited)
`SetMaxLoss`	`bool`	`false`	Max Loss after Max Trades reached?
`MaxLoss`	`double`	`0`	Max Loss after Max Trades (0 for unlimted) in deposit currency.
`UseRecoveryTakeProfit`	`bool`	`true`	Use a Recovery Take Profit
`RecoveryTakeProfit`	`int`	`50`	Recovery Take Profit (points).
`PendingPrice`	`double`	`0`	Price for pending orders
`ATRHeader`	`string`	`—`	ATR Dynamic Zone Sizing
`UseATR`	`bool`	`false`	Use ATR?
`ATRPeriod`	`int`	`14`	ATR Period

Show all 40 inputs

Name	Type	Default	Description
`ATRZoneFraction`	`double`	`0.2`	Fraction of ATR to use as Recovery Zone
`ATRTPFraction`	`double`	`0.3`	Fraction or ATR to use for TP sizes
`ATRRecoveryZone`	`double`	`0.15`	Fraction of ATR to use for recovery TP.
`MoneyManagement`	`string`	`—`	MONEY MANAGEMENT SETTINGS
`RiskPercent`	`double`	`0`	Account % Initial Lot Size (set to 0 if not used)
`InitialLotSize`	`double`	`0.1`	Initial Lot Size (if % not used)
`LotMultiplier`	`double`	`2`	Multiplier for Lots
`LotAdditions`	`double`	`0`
`CustomLotSizing`	`string`	`—`	CUSTOM LOT SIZES
`CustomLotSize1`	`double`	`0`
`CustomLotSize2`	`double`	`0`
`CustomLotSize3`	`double`	`0`
`CustomLotSize4`	`double`	`0`
`CustomLotSize5`	`double`	`0`
`CustomLotSize6`	`double`	`0`
`CustomLotSize7`	`double`	`0`
`CustomLotSize8`	`double`	`0`
`CustomLotSize9`	`double`	`0`
`CustomLotSize10`	`double`	`0`
`TimerSettings`	`string`	`—`	TIMER SETTINGS
`UseTimer`	`bool`	`false`	Use a Trade Timer?
`StartHour`	`int`	`0`	Start Hour
`StartMinute`	`int`	`0`	Start Minute
`EndHour`	`int`	`0`	End Hour
`EndMinute`	`int`	`0`	End Minute
`UseLocalTime`	`bool`	`false`	Use local time?
`TradeSettings`	`string`	`—`	EA SETTINGS
`EA_Mode`	`EA_Setting`	`Manual`

How to install it

1Download the sourceUse "Download source (.zip)" above, or clone wawaw237zz/Arbitrage-Expert 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.

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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