Forever Free EA: Free MT5 EA Download & Source Code

Overview

Forever Free EA employs a grid strategy that can be configured with martingale or fixed lot increments. The system utilizes dual magic number engines to manage separate trade streams and includes a trend mode to align entries with market direction. Risk controls consist of an equity guardian and custom take profit levels, though the stop loss is disabled by default. A detailed on-screen panel displays real-time statistics, including drawdown, total volume, and account equity.

Grid and martingale lot scaling modes

Dual-engine magic number management

Comprehensive on-screen monitoring dashboard

Equity guardian account protection

Configurable trend-following entry mode

Details

Author

SeanCollymoreJr on GitHub

Type

Trading robot

Timeframes

Any timeframe

Risk Profile

Uses martingale lot scaling: losses can grow fast
Opens a grid of orders: exposure builds up in a trend
Trades without a fixed stop loss

EA Files

Forever Free v1.96.mq5

Source

github.com/SeanCollymoreJr/AlgorithmicTradingRobot

Input Parameters

Read from Forever Free v1.96.mq5. Defaults are the author's; change them in the EA's Inputs tab.

Name	Type	Default
`SYMBOLTYPE`	`string`	`---- Symbol Type ----`
`SymbolType`	`SymbolTypeEnum`	`CurrencyPair`
`MAGIC`	`string`	`---- Magic Number Engine ----`
`EnableEngineA`	`bool`	`true`
`MagicNumberA`	`int`	`1738`
`EnableEngineB`	`bool`	`true`
`MagicNumberB`	`int`	`1099`
`PANEL`	`string`	`---- Panel Settings ----`
`EnablePriceOnScreen`	`bool`	`true`
`EnableSymbolOnScreen`	`bool`	`true`
`EnablePercentChangeOnScreen`	`bool`	`true`
`EnableSpreadOnScreen`	`bool`	`true`

Show all 40 inputs

Name	Type	Default
`EnableMaxDDOnScreen`	`bool`	`true`
`EnableMaxProfitOnScreen`	`bool`	`true`
`EnableMinimumEquityOnScreen`	`bool`	`true`
`EnableRestrictionsOnScreen`	`bool`	`true`
`EnableTotalVolumeOnScreen`	`bool`	`true`
`EnableDailyRangeOnScreen`	`bool`	`true`
`LOTCONFIGURATION`	`string`	`---- Config Lot INIT ----`
`LotMode`	`LotModeEnum`	`FixedLotSize`
`FixedLot`	`double`	`0.01`
`AccountPercentageToRisk`	`double`	`0.01`
`UseTakeProfit`	`bool`	`true`
`TakeProfitInPips`	`double`	`10.0`
`UseStopLoss`	`bool`	`false`
`StopLossInPips`	`double`	`5.0`
`GRIDCONFIGURATION`	`string`	`---- Config Grid ----`
`TypeGridLot`	`TypeGridLotEnum`	`MartingaleLot`
`GridIncrementFactor`	`double`	`2.0`
`MaxNumberOfTrades`	`int`	`5`
`StepSizeInPips_`	`double`	`3.0`
`STEPLOT_`	`double`	`1.0`
`MAXLOT`	`double`	`99.0`
`TRENDMODE`	`string`	`---- Trend Mode Settings ----`
`EnableTrendMode`	`bool`	`false`
`TrendType`	`TrendModeEnum`	`Uptrend`
`TimeFrame`	`string`	`---- Timeframe to Use ----`
`TimeFrameOpenOneCandle`	`TimeFrameEnum`	`Current`
`EQUITYGUARDIAN`	`string`	`---- Equity Guardian ----`
`UseTakeEquityStop`	`bool`	`false`

How to Install It

1Download the sourceUse "Download source (.zip)" above, or clone SeanCollymoreJr/AlgorithmicTradingRobot from GitHub, and unzip it.

2Open the data folderIn MetaTrader choose File, then Open Data Folder, and go to MQL5/Experts.

3Copy the filesCopy the .mq5 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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Forever Free EA