by 
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
Falcon B
Falcon B is an automated trading robot for MetaTrader 4 that utilizes moving average crossovers and Keltner Channels for market entries.
GitHub stars3
Forks55
Last update5 years ago27 May 2021
LicenceMIT
Latest release1.0107 years ago
Overview
Falcon B is specifically designed to function within a larger framework, integrating with R-based decision support software through CSV command files. The EA provides robust risk management options, including fixed or percentage-based position sizing, volatility-based stop loss and take profit levels, and hidden exit points. Users can configure the EA in master or slave modes to synchronize across multiple terminal instances.
- R based decision support integration
- Volatility based stop loss and take profit
- Master and slave terminal synchronization
- Percentage based position sizing
- Moving average and Keltner Channel logic
Details
Author
vzhomeexperiments on GitHub
Type
Trading robot
Platform
MetaTrader 4 (MQL4)
Strategy
Indicator crossover, Trend following
Markets
Any symbol
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.
EA files
Input parameters
Read from Falcon_B.mq4. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
Header1 | string | ----------EA General Settings----------- | |
MagicNumber | int | 8118201 | |
TerminalType | int | 1 | 0 mean slave, 1 mean master |
R_Management | bool | true | R_Management true will enable Decision Support Centre (using R) |
Slippage | int | 3 | In Pips |
IsECNbroker | bool | false | Is your broker an ECN |
OnJournaling | bool | true | Add EA updates in the Journal Tab |
Header2 | string | ----------Trading Rules Variables----------- | |
FastMAPeriod | int | 10 | |
SlowMAPeriod | int | 40 | |
KeltnerPeriod | int | 15 | |
KeltnerMulti | int | 3 |
Show all 40 inputs
| Name | Type | Default | Description |
|---|---|---|---|
Header3 | string | ----------Position Sizing Settings----------- | |
Lot_explanation | string | If IsSizingOn = true, Lots variable will be ignored | |
Lots | double | 0.01 | |
IsSizingOn | bool | False | |
Risk | double | 1 | Risk per trade (in percentage) |
MaxPositionsAllowed | int | 1 | |
Header4 | string | ----------TP & SL Settings----------- | |
UseFixedStopLoss | bool | True | If this is false and IsSizingOn = True, sizing algo will not be able to calculate correct lot size. |
FixedStopLoss | double | 0 | Hard Stop in Pips. Will be overridden if vol-based SL is true |
IsVolatilityStopOn | bool | True | |
VolBasedSLMultiplier | double | 3 | Stop Loss Amount in units of Volatility |
UseFixedTakeProfit | bool | True | |
FixedTakeProfit | double | 0 | Hard Take Profit in Pips. Will be overridden if vol-based TP is true |
IsVolatilityTakeProfitOn | bool | True | |
VolBasedTPMultiplier | double | 6 | Take Profit Amount in units of Volatility |
Header5 | string | ----------Hidden TP & SL Settings----------- | |
UseHiddenStopLoss | bool | False | |
FixedStopLoss_Hidden | double | 0 | In Pips. Will be overridden if hidden vol-based SL is true |
IsVolatilityStopLossOn_Hidden | bool | False | |
VolBasedSLMultiplier_Hidden | double | 0 | Stop Loss Amount in units of Volatility |
UseHiddenTakeProfit | bool | False | |
FixedTakeProfit_Hidden | double | 0 | In Pips. Will be overridden if hidden vol-based TP is true |
IsVolatilityTakeProfitOn_Hidden | bool | False | |
VolBasedTPMultiplier_Hidden | double | 0 | Take Profit Amount in units of Volatility |
Header6 | string | ----------Breakeven Stops Settings----------- | |
UseBreakevenStops | bool | False | |
BreakevenBuffer | double | 0 | In pips |
Header7 | string | ----------Hidden Breakeven Stops Settings----------- |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone vzhomeexperiments/FALCON_B 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.
Similar expert advisors
SuperMao is an automated trading robot for MetaTrader 4 that executes trades based on technical indicator configurations. The repository includes variations of the strategy, specifically utilizing Ichimoku Kinko Hyo for trend identification and a combination of Bollinger Bands with MACD crossovers for momentum-based en
This MetaTrader 4 expert advisor is an automated trading system designed for technical analysis using trend and momentum indicators. It incorporates multiple exponential and simple moving averages, RSI with integrated smoothing periods, and MACD. The EA manages risk through dynamic lot sizing based on account percentag
This expert advisor for MetaTrader 4 automates trading using five Exponential Moving Average periods to determine market direction. The developer notes an integration between C# and MQL4 for its operation. It manages trades with fixed stop loss and take profit parameters, ensuring each position has defined risk boundar
Max Profit is a trend-following expert advisor for MetaTrader 4, specifically optimized for the M1 timeframe. It utilizes a combination of technical indicators, including Parabolic SAR and MACD, to identify market trends and execute trades. The software includes dedicated modules for lot management, symbol analysis, an
This MetaTrader 4 expert advisor implements a classic moving average crossover strategy to automate trade entries. The robot monitors two user-defined simple moving averages of different periods. It enters a trade when the faster moving average crosses above or below the slower moving average on a new bar. Risk managem
Need a broker for MT4?
Compare regulated brokers that support MetaTrader, with spreads, minimum deposits and leverage side by side.
Compare brokers