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This collection for MetaTrader 4 provides a variety of expert advisors and utilities intended for automated trading and educational use. The primary component is a moving average crossover robot that opens positions based on trend direction. It features risk management tools including percentage-based stop losses, take
Collection · MT4
Banik MQL4 EA Collection
This MetaTrader 4 repository features a collection of expert advisors, including a dual moving average retracement strategy and a Morning Star candlestick pattern robot.
GitHub stars3
Forks6
Last update3 years ago7 Aug 2023
LicenceNone stated
Overview
The primary moving average EA identifies trends using fast and slow Simple Moving Averages, entering trades when price retraces to the short-term average. It manages risk by placing stop losses relative to the long-term average and calculating lot sizes based on a maximum risk parameter. The system includes hard take profit targets defined by a risk-to-reward ratio. The README documentation provided for the collection is minimal.
- Dual Simple Moving Average trend filtering
- Automated stop loss and take profit calculation
- Risk-based position sizing via input parameters
- Candlestick pattern recognition strategy
Details
Author
Chiradeep-Banik on GitHub
Type
Collection
Platform
MetaTrader 4 (MQL4)
Strategy
Trend following, Indicator crossover
Markets
Forex
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.
Input parameters
Read from 2MA_Retracement.mq4. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
slow_ma_period | int | 50 | |
fast_ma_period | int | 20 | |
risk_reward | double | 3 | |
max_risk | double | 100 |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone Chiradeep-Banik/MQL4_Codes 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, and any .mqh files into the Include folder the code expects.
- 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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