by 
This MetaTrader 5 expert advisor executes a grid trading strategy enhanced with martingale lot scaling. The system identifies market direction through multi-timeframe analysis using Exponential Moving Averages and the Average Directional Index. It features dynamic grid spacing that adjusts based on market volatility an
Trading robot · MT5
Forever Free EA
The Forever Free EA is a MetaTrader 5 trading robot designed for forex and indices.
High risk
GitHub stars1
Forks0
Last update2 years ago7 Jul 2024
LicenceNone stated
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
Platform
MetaTrader 5 (MQL5)
Strategy
Grid, Martingale, Trend following
Markets
Forex, Indices
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
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 | Description |
|---|---|---|---|
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 | Description |
|---|---|---|---|
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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