AUDUSD Butterfly Options EA: Free MT5 Expert Advisor

Overview

AUDUSD Butterfly Options EA utilizes a multi-timeframe approach, requiring bullish trend confirmation on H1 and H4 charts using exponential moving averages before entering positions. The logic identifies favorable volatility conditions through a contango skew proxy. Risk management is handled via a fixed 2:1 reward-to-risk ratio, a 10% decay-based exit threshold, and an equity protector that pauses or terminates trading during significant drawdowns. The code requires manual configuration of broker-specific option symbols for live execution.

Multi-leg butterfly option execution

Integrated equity drawdown protection

Multi-timeframe trend confirmation filters

Vega-neutral position balancing logic

Details

Author

st-techno on GitHub

Type

Trading robot

Platform

MetaTrader 5 (MQL5)

Strategy

Trend following, Mean reversion

Markets

Forex

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

AUDUSD_Butterfly_Options_EA.mq5

Source

github.com/st-techno/AUDUSD-long-butterflies-in-contango-skew---METATRADER

Input parameters

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

Name	Type	Default	Description
`InpAccountSize`	`double`	`50000.0`	Account size USD
`InpRiskPerTrade`	`double`	`0.02`	2% risk per trade
`InpConfirmTF`	`ENUM_TIMEFRAMES`	`PERIOD_H1`	MTF confirmation TF
`InpATM_Delta`	`double`	`0.5`	ATM delta target
`InpWing_Delta`	`double`	`0.16`	Wing delta (OTM/ITM)
`InpSkewThreshold`	`double`	`0.05`	Contango skew threshold (put skew > call)
`InpVegaNeutral`	`double`	`0.1`	Max vega deviation for neutral
`InpRRRatio`	`double`	`2.0`	2:1 RR target
`InpDecayExit`	`double`	`0.10`	10% decay exit threshold
`InpMaxDDPercent`	`double`	`0.15`	Max 15% drawdown
`InpPauseDDPercent`	`double`	`0.10`	Pause at 10% interim DD
`InpMaxPositions`	`int`	`3`	Max concurrent butterflies

Show all 14 inputs

Name	Type	Default	Description
`InpEnableOpt`	`bool`	`true`	Enable genetic opt mode
`InpOptPeriodYears`	`int`	`3`	Opt over 3 years

How to install it

1Download the sourceUse "Download source (.zip)" above, or clone st-techno/AUDUSD-long-butterflies-in-contango-skew---METATRADER from GitHub, and unzip it.

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

3Copy the filesCopy the .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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