Icarus is an automated trading system for MetaTrader 4 that employs a grid strategy with Martingale lot scaling. It utilizes Bollinger Bands and the Stochastic Oscillator to identify entry points, offering a conjunctive mode for filtered execution. The EA manages risk through maximum position limits, equity warning thr
Trading robot · MT4
Ario Averaging
This MetaTrader 4 expert advisor implements an averaging strategy that manages trades by opening additional layers at predefined intervals when the market moves against the initial position.
High risk
GitHub stars2
Forks0
Last update2 years ago1 Sep 2024
LicenceNone stated
Overview
Ario Averaging features modes for both averaging up and down, with the ability to alternate between buy and sell orders. The EA includes risk controls such as a lot size multiplier for incremental orders and basket-level exit logic based on equity percentage or fixed dollar amounts. It is presented as a proof of concept for managing multi-layered order grids.
- Averaging up and down modes
- Percentage or amount based cut loss
- Multi-layered pending order system
- Adjustable lot size multiplier
- Alternate buy and sell order balancing
Details
Author
ariogunawan on GitHub
Type
Trading robot
Platform
MetaTrader 4 (MQL4)
Strategy
Grid, Martingale, Hedging
Markets
Any symbol
Timeframes
Any timeframe
Risk profile
- Uses martingale lot scaling: losses can grow fast
- Opens a grid of orders: exposure builds up in a trend
- Holds opposite positions at once
- Trades without a fixed stop loss
EA files
Input parameters
Read from EA-Averaging-Ario.mq4. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
separator1 | string | ******************************* | [ BASIC SETTINGS ] |
AveragingMode | ENUM_AVERAGING_MODE | Down | Averaging Mode |
AlternateOrdersMode | bool | false | Open new layers alternatively on buy and sell |
FirstStepInPips | int | 500 | First step in points |
NextStepInPips | int | 700 | Next step in points |
MaxSlippage | int | 5 | Maximum slippage tolerant in points |
MaxNumberOfOrders | int | 11 | Maximum number of layers (pending orders) |
Multiplier | double | 1 | Multiplier for incremental lots |
separator2 | string | ******************************* | [ CUT LOSS SETTINGS ] |
CutLossMode | ENUM_SET_CUT_LOSS_TAKE_PROFIT | None | Cut Loss Mode |
CutLossPercent | double | 20 | Cut loss when total loss >= this NEGATIVE percent of balance(-%) |
CutLossAmount | double | 400 | Cut loss when total loss >= this NEGATIVE amount(-$) |
Show all 19 inputs
| Name | Type | Default | Description |
|---|---|---|---|
separator3 | string | ******************************* | [ TAKE PROFIT SETTINGS ] |
TakeProfitMode | ENUM_SET_CUT_LOSS_TAKE_PROFIT | None | Take Profit Mode |
TakeProfitPercent | double | 5 | Take profit when total profit >= this percent of balance(%) |
TakeProfitAmount | double | 20 | Take profit when total profit >= this amount($) |
separator4 | string | ******************************* | [ AUTO TRADE SETTINGS ] |
AutoTradeMode | bool | false | Auto Trade Mode |
AutoTradeVolume | double | 0.01 | Auto Trade Lots (Volume) |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone ariogunawan/POC-MetaTrader4-Trading-Robot-AVG 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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