Falcon Trading Bot Template: Free MT4 Expert Advisor

Overview

Falcon Trading Bot Template includes pre-built modules for trend detection using ADX and Moving Averages, alongside pullback entry logic. The template emphasizes risk management, featuring percentage-based lot sizing and adaptive volatility scaling. Users can configure fixed or ATR-based stop loss and take profit levels. Additional exit mechanisms include trailing stops, breakeven buffers, and time-based exits after a specific number of bars. It is designed as a foundational codebase for MQL4 developers.

Percentage-based position sizing

ATR-based volatility stops

Adaptive hit rate lot scaling

Multi-mode trailing stop logic

Time-based trade exit rules

Details

Author

JoeG777 on GitHub

Type

Framework & template

Platform

MetaTrader 4 (MQL4)

Strategy

Trend following, Mean reversion, Martingale

Markets

Any symbol

Timeframes

Any timeframe

Risk profile

Uses martingale lot scaling: losses can grow fast

EA files

MT4_Forex_Trading_Bot_Template.mq4

Source

github.com/JoeG777/MT4_Forex_Trading_Bot_Template

Input parameters

Read from MT4_Forex_Trading_Bot_Template.mq4. Defaults are the author's; change them in the EA's Inputs tab.

Name	Type	Default	Description
`Header1`	`string`	`----------Trading Rules Variables-----------`
`lookbackPeriodADX`	`int`	`14`
`ADXThresh`	`double`	`20`
`trendThresh`	`int`	`35`
`lookbackPeriodMA`	`int`	`200`
`validBars`	`int`	`10`
`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)
`MaxLotsAllowed`	`double`	`20`	Per Order

Show all 40 inputs

Name	Type	Default	Description
`MinFreeMarginPerLot`	`double`	`1500`	Note: 1000USD of margin required to open a 1 lot of EURUSD on a 100:1 leverage.
`IsAdaptiveVolSizingOn`	`bool`	`False`	Switch for our adaptive volatility function
`IsAdaptiveHRSizingOn`	`bool`	`False`	Switch for our adaptive hit rate function
`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`	`3.0`	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`	`3.0`	Take Profit Amount in units of Volatility
`Header4`	`string`	`----------Breakeven Stops Settings-----------`
`UseBreakevenStops`	`bool`	`False`
`BreakevenBuffer`	`double`	`0`	In pips
`Header5`	`string`	`----------Trailing Stops Settings-----------`
`UseTrailingStops`	`bool`	`False`
`TrailingStopDistance`	`double`	`0`	In pips
`TrailingStopBuffer`	`double`	`0`	In pips
`Header6`	`string`	`----------Volatility Trailing Stops Settings-----------`
`UseVolTrailingStops`	`bool`	`False`
`VolTrailingDistMultiplier`	`double`	`0`	In units of ATR
`VolTrailingBuffMultiplier`	`double`	`0`	In units of ATR
`Header7`	`string`	`----------Time Based Stop (Exit)-----------`
`UseTimeBasedExit`	`bool`	`False`
`exitAfterBars`	`int`	`7`
`Header8`	`string`	`----------Volatility Measurement Settings-----------`
`atr_period`	`int`	`14`

How to install it

1Download the sourceUse "Download source (.zip)" above, or clone JoeG777/MT4_Forex_Trading_Bot_Template 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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