This MetaTrader 5 expert advisor provides a versatile trading framework featuring nine selectable entry signals, including Ichimoku, RSI, Bollinger Bands, and EMA crossovers. It employs a Dollar Cost Averaging strategy with configurable lot multipliers and distance scaling to manage positions. A notable feature is the
Trading robot · MT5
Currency Strength EA
This MetaTrader 5 expert advisor utilizes a multicurrency strength system to identify trading opportunities by comparing relative currency values.
High risk
GitHub stars6
Forks3
Last update4 years ago18 Apr 2022
LicenceGPL-3.0
Overview
Currency Strength EA calculates strength based on a configurable lookback period, typically using H4 data, and includes triangular weighting and smoothing options. The robot manages exits using either fixed point values or ATR-based calculations for stop loss and take profit. It incorporates a martingale lot scaling system for position averaging. Risk management features include automated lot sizing based on account balance and a daily target profit percentage limit.
- Multicurrency relative strength calculation
- ATR or fixed point SL/TP calculation
- Martingale-style position averaging system
- Daily profit target management
Details
Author
drdz9876 on GitHub
Type
Trading robot
Platform
Strategy
Martingale, Multi-strategy, Grid
Markets
Forex
Timeframes
M15-H1, H4 and above
Risk Profile
- Uses martingale lot scaling: losses can grow fast
- Opens a grid of orders: exposure builds up in a trend
- Trades without a fixed stop loss
EA Files
Input Parameters
Read from Currency Strength EA 3.0.mq5. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
Timer | const string | //---------------- Time Settings ----------------// | |
TimeMode | timer | Server | Time Mode |
StartTime | string | 10:00 | Opening Time |
EndTime | string | 16:00 | End Time |
CStrength | const string | //---------------- Currency Strength Settings -------------- | |
tmf | ENUM_TIMEFRAMES | PERIOD_H4 | Strength Period Calculation |
NumberOfCandles | int | 55 | Number of Candle to Calculate |
ApplySmoothing | bool | true | Apply Smoothing |
TriangularWeighting | bool | true | Triangular Weighting |
HistoricalShift | int | 0 | Shift |
UpperLimit | double | 7.2 | Upper Limit Value |
LowerLimit | double | 3.3 | Lower Limit Value |
Show all 40 inputs
| Name | Type | Default | Description |
|---|---|---|---|
Indi | const string | //---------------- Indicator Settings ----------------// | |
ATRTF | ENUM_TIMEFRAMES | PERIOD_CURRENT | ATR Timeframe |
ATRPeriod | int | 14 | ATR Period |
SLTP | StepMode | inATR | SLTP Type |
Stoploss | double | 0.0 | Stoploss |
Takeprofit | double | 1.0 | Takeprofit |
TrailingStop | int | 30 | Trailing Stop (in Points) |
TrailingStep | int | 5 | Trailing Step (in Points) |
Martingale | const string | //---------------- Martingale Settings ----------------// | |
EnableAveraging | bool | true | Enable Martingale |
Multiplier | double | 1.3 | Lot Multiplier |
PipStepMode | StepMode | inATR | PipStep Type |
PipStep | double | 0.8 | Pip Step |
TPPlus | int | 20 | TP Average in Pips |
MM | const string | //---------------- Money Management Settings --------------- | |
Autolot | bool | true | Enable AutoLot |
Lot | double | 0.01 | Constant Lot |
RiskPercent | double | 0.1 | Risk in Percent |
UseTargetPercent | bool | true | Use Daily Target Percent |
ProfitType | PType | inPercent | Profit Close Type |
DailyProfit | double | 0.05 | Daily Target Profit Percentage |
Other | const string | //---------------- Other Settings ----------------// | |
iMagicNumber | int | 227 | Magic Number |
iSlippage | int | 3 | Slippage |
Commentary | string | Currency Strength EA | Order Comment |
prefix | string | | If have Prefix, else leave Blank |
postfix | string | | If have Postfix, else leave Blank |
maxTradedSymbols | int | 2 | Max Simultaneous Traded Symbols |
How to Install It
- 1Download the sourceUse "Download source (.zip)" above, or clone drdz9876/Currency-Strength-EA-MT5 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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