Falcon D: Free MT4 Expert Advisor

Overview

Falcon D opens positions when price deviates significantly from the daily start point in opposition to the established trend. The system incorporates filters including a long-period Moving Average and RSI overbought or oversold levels. Risk management is handled through volatility-based or fixed stop losses and take profits, along with a time-based automated exit strategy that closes orders after a set duration.

Volatility-based stop loss and take profit

RSI and Moving Average trend filters

Integration with R-based Decision Support Centre

Time-based order expiration in minutes

Percentage-based risk lot sizing

Details

Author

vzhomeexperiments on GitHub

Type

Trading robot

Platform

MetaTrader 4 (MQL4)

Strategy

Mean reversion, Indicator crossover

Markets

Forex

Timeframes

M15-H1

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

Falcon_D.mq4

Source

github.com/vzhomeexperiments/FALCON_D

Input parameters

Read from Falcon_D.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`	`9142201`
`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`	`false`	Add EA updates in the Journal Tab
`EnableDashboard`	`bool`	`True`	Turn on Dashboard
`Header2`	`string`	`----------Trading Rules Variables -----------`
`StartHour`	`int`	`10`
`MinPipLimit`	`int`	`0`
`UseMAFilter`	`bool`	`True`

Show all 40 inputs

Name	Type	Default	Description
`FastMAPeriod`	`int`	`1`
`SlowMAPeriod`	`int`	`950`
`RSI_NoBuyFilter`	`int`	`70`
`RSI_NoSellFilter`	`int`	`30`
`TimeMaxHold`	`int`	`1440`	max order close time in minutes
`Buy_True`	`bool`	`True`
`Sell_True`	`bool`	`True`
`closeAllOnFridays`	`bool`	`False`	close all orders on Friday 1hr before market closure
`use_market_type`	`bool`	`False`	use market type trading policy
`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`	`6`	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`

How to install it

1Download the sourceUse "Download source (.zip)" above, or clone vzhomeexperiments/FALCON_D 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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Overview

Details

Author

Type

Platform

Strategy

Markets

Timeframes

Risk profile

EA files

Source

Input parameters

How to install it

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