Daily Straddle Basket EA: Free MT5 Expert Advisor

Overview

The core system establishes a reference price based on a specific hourly candle to initiate buy and sell grids. It manages risk using volume-weighted basket targets for take profit and stop loss. The EA employs aggressive lot scaling and dynamic grid spacing multipliers. It also features time-based filters, including a specific window for closing trades at reduced profit targets before the end of the trading session.

Reference price-based entry logic

Configurable martingale lot multipliers

Dynamic grid step scaling

Volume-weighted basket take profit and stop loss

Time-window based profit closing

Details

Author

shibu1x on GitHub

Type

Collection

Platform

MetaTrader 5 (MQL5)

Strategy

Grid, Martingale, News, Mean reversion, Hedging

Markets

Any symbol

Timeframes

M15-H1

Risk Profile

Uses martingale lot scaling: losses can grow fast
Opens a grid of orders: exposure builds up in a trend
Holds opposite positions at once
Trades without a fixed stop loss

EA Files

Source

github.com/shibu1x/mt5-ea

Input Parameters

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

Name	Type	Default	Description
`ReferenceHour`	`int`	`1`	Reference Hour (server time, 0-23): the close of this hour's bar becomes the reference price
`ReferenceMaxDistancePips`	`int`	`130`	Max Distance from Reference Price to Allow Nanpin (pips, 0 = no limit)
`LotSize`	`double`	`0.01`	Initial Lot Size
`LotMultiplier`	`double`	`1.5`	Lot Multiplier per Grid Level (1.0 = fixed lot)
`GridStepPips`	`int`	`10`	Grid Step (pips)
`GridStepMultiplier`	`double`	`1.2`	Grid Step Multiplier per Grid Level (1.0 = fixed step)
`MaxGridLevels`	`int`	`16`	Max Grid Levels (common, 0 = unlimited; used unless a per-direction value is set)
`BasketTakeProfitPips`	`int`	`100`	Basket Take Profit (pips, volume-weighted avg, 0 = disabled)
`BasketStopLossPips`	`int`	`0`	Basket Stop Loss (pips, volume-weighted avg, 0 = disabled)
`MaxSpreadPips`	`double`	`1.0`	Max Spread to Allow New Entries (pips, 0 = no limit)
`MagicNumber`	`int`	`8007`	Magic Number
`TradingStartHour`	`int`	`1`	Trading Start Hour (server time, 0-23)

Show all 24 inputs

Name	Type	Default	Description
`TradingEndHour`	`int`	`0`	Trading End Hour (server time, 0-23; start == end means no restriction)
`ProfitCloseStartHour`	`int`	`21`	Profit Close Window Start Hour (server time, 0-23; start == end disables this feature)
`ProfitCloseEndHour`	`int`	`23`	Profit Close Window End Hour (server time, 0-23)
`ProfitCloseTargetPips`	`int`	`10`	Profit Close Target (pips, volume-weighted avg, 0 = disabled)
`BuyOpenNew`	`bool`	`true`	Open New Buy Baskets (false = close-only for an open basket)
`BuyMaxGridLevels`	`int`	`0`	Buy Max Grid Levels (0 = use common MaxGridLevels; >=1 overrides it)
`BuyUpperLimitPrice`	`double`	`0`	Buy Upper Limit Price (0 = no limit)
`BuyEntryDistancePips`	`int`	`0`	Buy Level-0 Entry Distance Below Reference Price (pips, 0 = open at/below reference price; negative = allow entry above
`SellOpenNew`	`bool`	`true`	Open New Sell Baskets (false = close-only for an open basket)
`SellMaxGridLevels`	`int`	`0`	Sell Max Grid Levels (0 = use common MaxGridLevels; >=1 overrides it)
`SellLowerLimitPrice`	`double`	`0`	Sell Lower Limit Price (0 = no limit)
`SellEntryDistancePips`	`int`	`0`	Sell Level-0 Entry Distance Above Reference Price (pips, 0 = open at/above reference price; negative = allow entry below

How to Install It

1Download the sourceUse "Download source (.zip)" above, or clone shibu1x/mt5-ea 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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