Falcon S: Free MT4 Expert Advisor

Overview

Falcon S functions as a production bridge for decisions generated in external environments like R, reading trade triggers from CSV files. The robot operates primarily on the H1 timeframe with scheduled trading windows. It includes comprehensive risk management features such as volatility-based stop loss and take profit levels, hidden order settings, breakeven stops, and a maximum trade duration limit. It supports both fixed lot sizing and percentage-based risk calculation.

External sentiment analysis trigger integration

Volatility-based dynamic exit levels

Hidden stop loss and take profit

Automated CSV command processing

Time-based trade duration management

Details

Author

vzhomeexperiments on GitHub

Type

Trading robot

Platform

MetaTrader 4 (MQL4)

Strategy

News, AI / machine learning

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_S.mq4

Topics

mql4algorithmic-tradingnewssentiment-analysistrading-algorithmstrading-bottrading-strategiesmt4mt4-ea

Source

github.com/vzhomeexperiments/FALCON_S

Input parameters

Read from Falcon_S.mq4. Defaults are the author's; change them in the EA's Inputs tab.

Name	Type	Default	Description
`Header15`	`string`	`----------EA General Settings-----------`
`MagicNumber`	`int`	`8136201`
`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
`Header1`	`string`	`----------Trading Rules Variables-----------`
`StartTradeHour08`	`bool`	`TRUE`
`StartTradeHour16`	`bool`	`TRUE`
`StartTradeHour24`	`bool`	`TRUE`
`TradeMaxDurationHrs`	`int`	`7`

Show all 40 inputs

Name	Type	Default	Description
`Header2`	`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)
`Header3`	`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
`Header4`	`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
`Header5`	`string`	`----------Breakeven Stops Settings-----------`
`UseBreakevenStops`	`bool`	`False`
`BreakevenBuffer`	`double`	`0`	In pips
`Header6`	`string`	`----------Hidden Breakeven Stops Settings-----------`
`UseHiddenBreakevenStops`	`bool`	`False`

How to install it

1Download the sourceUse "Download source (.zip)" above, or clone vzhomeexperiments/FALCON_S 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, and any .mqh files into the Include folder the code expects.

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

TradeExpert

by nguemechieu

TradeExpert is a multi-functional expert advisor for MetaTrader 4 that combines technical indicator analysis with external data integration. It executes trades using market or limit orders across a wide range of forex pairs and cryptocurrencies. The system features a built-in news filter to manage volatility during eco

MT4 Trading robot NewsMulti-strategyAI / machine learning High risk

Updated 2 years ago MIT GitHub

Pro Trader AI

by salmanrki

This MetaTrader 5 expert advisor integrates Large Language Models such as OpenAI and Anthropic Claude with technical analysis to automate trading across forex, gold, crypto, and indices. It utilizes a confluence scoring system based on Smart Money Concepts, Ichimoku Cloud, and standard indicators like RSI and MACD. The

MT5 Trading robot SMC / ICT / price actionAI / machine learningNews

Updated 5 months ago None stated GitHub

Sharrow

by Shinpai-AI

Sharrow is an AI-driven trading robot for MetaTrader 5 that integrates with a Python-based machine learning toolchain. It functions as a trend engine, primarily designed for the H1 timeframe, using rules generated from walk-forward training scripts. The system includes sophisticated risk controls such as daily drawdown

MT5 Trading robot AI / machine learningTrend followingNews

Updated 7 months ago None stated GitHub

Xau Ai Pro

by apolopanda500

This expert advisor for MetaTrader 5 is a sophisticated trading system specifically optimized for gold. It operates as part of a hybrid ecosystem, utilizing a Python-based desktop interface for local machine learning model training and market analysis while executing trades via the MQL5 robot. The EA employs a multi-la

MT5 Trading robot AI / machine learningTrend followingNews

Updated 2 days ago None stated GitHub

Ensemble Machine Learning Trader

by dillahbaraja

This automated trading system for MetaTrader 5 utilizes machine learning models via the ONNX runtime to forecast currency trends. It implements an ensemble approach, combining predictions from Logistic Regression, Support Vector Machines, Random Forest, and XGBoost. The system operates in two primary modes: technical i

MT5 Trading robot AI / machine learningNewsTrend following

Updated 6 weeks ago None stated GitHub

Falcon A

by vzhomeexperiments

Falcon A is a MetaTrader 4 robot that utilizes a k-Nearest Neighbors (kNN) classification algorithm for pattern-based trading. It follows a model-based approach where the user must first generate historical data files through a training simulation in the Strategy Tester. The system calculates entry probabilities using

MT4 Trading robot AI / machine learning

Updated 5 years ago MIT GitHub