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
Buy Low Sell High EA
This MetaTrader 4 expert advisor implements a cumulative profit strategy based on support and resistance levels.
GitHub stars2
Forks0
Last update1 year ago30 Jan 2025
LicenceNone stated
Overview
The system identifies potential trade entries by analyzing historical price extremes over a defined lookback period while excluding recent price action. It manages trade exits collectively, closing the entire basket of orders once a predefined aggregate profit target or maximum loss threshold is met. Risk management features include a limit on total open orders and fixed lot sizing. The repository provides minimal documentation and lacks a README file.
- Support and resistance level detection
- Aggregate profit and loss basket management
- Maximum concurrent open order limit
- Customizable lookback and exclusion periods
Details
Author
yeainshukla on GitHub
Type
Trading robot
Platform
MetaTrader 4 (MQL4)
Strategy
Mean reversion, Hedging
Markets
Any symbol
Timeframes
Any timeframe
Risk profile
- Holds opposite positions at once
- Trades without a fixed stop loss
EA files
Input parameters
Read from BuyLowSellHigh.mq4. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
minLossTarget | double | -100.0 | Minimum total open trade loss target to close all orders |
profitTarget | double | 25.0 | Maximum total open trade profit target to close all orders |
lotSize | double | 0.01 | Lot size |
maxOpenOrders | int | 10 | Maximum number of open orders |
overlay | bool | false | Disable overlay chart |
SR_LookBack | int | 1440 | Lookback period for support and resistance calculation |
ExcludeRecent | int | 96 | Number of recent candles to exclude from S&R calculation |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone yeainshukla/Automated-Forex-Trading-EA 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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