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
First Robot
First Robot is a MetaTrader 4 expert advisor designed as a basic testing script.
High risk
GitHub stars1
Forks0
Last update7 years ago21 Nov 2018
LicenceNone stated
Overview
The robot enters buy positions when no existing orders are detected, utilizing a randomized logic for initial execution. It features an aggressive martingale lot scaling system that increases the volume of subsequent trades following losses, checked through the account history. Every trade is protected by a hardcoded 100-point stop loss and take profit. The repository serves as a simple proof of concept with minimal documentation and lacks user-configurable input parameters.
- Martingale lot scaling after losses
- Hardcoded stop loss and take profit
- Automated trade history analysis
- Basic randomized entry logic
Details
Author
Daiwv on GitHub
Type
Trading robot
Platform
MetaTrader 4 (MQL4)
Strategy
Martingale
Markets
Forex
Timeframes
Any timeframe
Risk profile
- Uses martingale lot scaling: losses can grow fast
EA files
Source
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone Daiwv/Mql4_EA 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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