This MetaTrader 4 expert advisor functions as an automated trading robot using the Average Directional Index (ADX) to identify trend strength and direction. It executes trades based on ADX crossovers and specific level thresholds. The EA provides essential risk management tools, including stop loss, take profit, and a
Trading robot · MT4
Daily Momentum EA
Daily Momentum EA is a MetaTrader 4 robot that automates trading based on the Moving Average Convergence Divergence (MACD) indicator.
GitHub stars1
Forks0
Last update6 years ago15 Sep 2020
LicenceNone stated
Overview
Daily Momentum EA identifies entry points by analyzing the sequence of the MACD histogram over three periods to find momentum shifts. The EA specifically targets the daily timeframe and includes a validation check to ensure it is not used on lower periods. Trades are managed using fixed stop loss and take profit levels, along with an optional trailing stop. It features fixed lot sizing and time-of-day filters for execution.
- MACD histogram sequence analysis
- Automated daily timeframe validation
- Time-restricted trade entry filter
- Optional trailing stop loss
- ECN execution compatibility
Details
Author
leocasanova on GitHub
Type
Trading robot
Platform
MetaTrader 4 (MQL4)
Strategy
Trend following
Markets
Any symbol
Timeframes
H4 and above
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
Input parameters
Read from DailyMomentumEA.mq4. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
StartHour | int | 0 | |
TakeProfit | int | 100 | |
StopLoss | int | 100 | |
Lots | double | 0.1 | |
Slippage | int | 5 | |
Magic | int | 777777 | |
ECNExecution | bool | false | |
TrailingStopLoss | bool | true | |
TrailValue | int | 10 | |
AutoAdjustTo5Digits | bool | true | |
MACD_FastPeriod | int | 12 | |
MACD_SlowPeriod | int | 26 |
Show all 13 inputs
| Name | Type | Default | Description |
|---|---|---|---|
MACD_SignalPeriod | int | 9 |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone leocasanova/Momentum-Trading 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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