Ariel Turtle Bot Collection: Free MT4 Expert Advisor

Overview

The primary logic utilizes Donchian Channel breakouts combined with Simple Moving Average filters to identify trend-following entries. The software includes comprehensive risk management tools such as ATR-based stop losses, percentage-based position sizing, and trailing stops. It also provides options for hidden exit levels and breakeven buffers. The repository is likely part of an educational course and lacks a README to explain the specific differences between the various files.

Donchian Channel breakout system

Simple Moving Average trend filtering

Percentage-based position sizing

Volatility-based ATR stop loss

Hidden take profit and stop loss options

Details

Input parameters

Read from Ariel 2.00.mq4. Defaults are the author's; change them in the EA's Inputs tab.

Name	Type	Default
`Header1`	`string`	`----------Trading Rules Variables-----------`
`Entry_SMA_Fast_Period`	`int`	`40`
`Entry_SMA_Slow_Period`	`int`	`80`
`Donchian_Period`	`int`	`20`
`Donchian_Extremes`	`int`	`3`
`Donchian_Margins`	`int`	`-2`
`Donchian_Advance`	`int`	`0`
`Donchian_max_bars`	`int`	`1000`
`Header2`	`string`	`----------Position Sizing Settings-----------`
`Lot_explanation`	`string`	`If IsSizingOn = true, Lots variable will be ignored`
`Lots`	`double`	`0`
`IsSizingOn`	`bool`	`True`

Show all 40 inputs

Name	Type	Default	Description
`Risk`	`double`	`1`	Risk per trade (in percentage)
`Header3`	`string`	`----------TP & SL Settings-----------`
`UseFixedStopLoss`	`bool`	`True`	if False, Risk will be sized to ATR StopLoss and FixedStopLoss is ignored; if True, Risk will be sized to FixedStopLoss
`FixedStopLoss`	`double`	`0`	Hard Stop in Pips. Will be overridden if Is_SL_ATR_On is true
`Is_SL_ATR_On`	`bool`	`True`	if this is True, UseFixedStopLoss must be set to True
`SL_ATR_Multiplier`	`double`	`2`
`SL_ATR_Period`	`int`	`20`
`UseFixedTakeProfit`	`bool`	`False`
`FixedTakeProfit`	`double`	`0`	Hard Take Profit in Pips. Will be overridden if vol-based TP is true
`IsVolatilityTakeProfitOn`	`bool`	`False`
`VolBasedTPMultiplier`	`double`	`0`	Take Profit Amount in units of Volatility
`Header4`	`string`	`----------Hidden TP & SL Settings-----------`
`UseHiddenStopLoss`	`bool`	`False`
`FixedStopLoss_Hidden`	`double`	`0`	In Pips. Will be overridden if hidden vol-based SL is true
`IsVolatilityStopLossOn_Hidden`	`bool`	`False`
`VolBasedSLMultiplier_Hidden`	`double`	`0`	Stop Loss Amount in units of Volatility
`UseHiddenTakeProfit`	`bool`	`False`
`FixedTakeProfit_Hidden`	`double`	`0`	In Pips. Will be overridden if hidden vol-based TP is true
`IsVolatilityTakeProfitOn_Hidden`	`bool`	`False`
`VolBasedTPMultiplier_Hidden`	`double`	`0`	Take Profit Amount in units of Volatility
`Header5`	`string`	`----------Breakeven Stops Settings-----------`
`UseBreakevenStops`	`bool`	`False`
`BreakevenBuffer`	`double`	`20`	In pips
`Header6`	`string`	`----------Hidden Breakeven Stops Settings-----------`
`UseHiddenBreakevenStops`	`bool`	`False`
`BreakevenBuffer_Hidden`	`double`	`20`	In pips
`Header7`	`string`	`----------Trailing Stops Settings-----------`
`UseTrailingStops`	`bool`	`False`

How to install it

1Download the sourceUse "Download source (.zip)" above, or clone Lucas170/Bonus-Chapter 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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Ariel Turtle Bot Collection

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