Icarus is an automated trading system for MetaTrader 4 that employs a grid strategy with Martingale lot scaling. It utilizes Bollinger Bands and the Stochastic Oscillator to identify entry points, offering a conjunctive mode for filtered execution. The EA manages risk through maximum position limits, equity warning thr
Trading robot · MT4
Forex Expert Grid
This MetaTrader 4 expert advisor implements a grid-based trading approach by opening buy and sell positions based on price distance.
High risk
GitHub stars1
Forks0
Last update9 months ago28 Nov 2025
LicenceNone stated
Overview
The system evaluates current market orders and places new trades only when the price moves a specific distance, defined by the step parameters, from existing entries. Users can independently manage buy and sell lots, take profit levels, and stop loss values. The robot includes graphical on-chart buttons to toggle trading directions. The provided documentation is extremely limited and does not offer functional guidance.
- On-chart buy and sell toggle buttons
- Distance-based order layering logic
- Independent directional lot sizing
- Adjustable grid step intervals
Details
Author
dz-rep on GitHub
Type
Trading robot
Platform
MetaTrader 4 (MQL4)
Strategy
Grid, Hedging
Markets
Any symbol
Timeframes
Any timeframe
Risk profile
- Opens a grid of orders: exposure builds up in a trend
- Holds opposite positions at once
- Trades without a fixed stop loss
EA files
Input parameters
Read from Expert.mq4. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
Buy | onoff | on | |
Sell | onoff | on | |
LotBuy | double | 0.1 | |
LotSell | double | 0.1 | |
stoploss | double | 0.0 | |
TPBuy | double | 0.001 | |
TPSell | double | 0.001 | |
StepBuy | double | 0.0005 | |
StepSell | double | 0.0005 |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone dz-rep/Forex-expert 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.
Similar expert advisors
Profit Hunter is an expert advisor for MetaTrader 4 designed for forex and cryptocurrency trading. It utilizes a composite signal strategy combining Triple Moving Average, Adaptive RSI, CCI, iTrend, and Fisher indicators. The robot executes trades using a grid system where distances between orders are set manually or c
Oanda TDesk Drone is a MetaTrader 4 expert advisor designed to execute trades based on signals from the TDesk dashboard via the Oanda FXtrade platform. It functions as a bridge, using an external Python script and file-based data exchange to facilitate order placement. The EA is specifically designed to support fractio
This MetaTrader 4 robot implements a multi-currency mean-reversion strategy, targeting price returns to the average on correlated forex pairs. It manages trades using a grid system with a significant martingale multiplier to scale lot sizes. The expert advisor allows for simultaneous trading on multiple symbols to dive
This expert advisor facilitates arbitrage trading between futures and spot instruments, primarily targeting gold and stock indices. Available for MetaTrader 4 and 5, it monitors the price difference between two related symbols against a moving average to identify trade opportunities. The logic includes a noise-filterin
AutoTrade EA is a scalping robot for MetaTrader 4 and 5 that utilizes a multi-indicator signal scoring system based on Exponential Moving Average crossovers and RSI levels. It employs an aggressive trade management strategy featuring a dynamic grid and a stepped martingale lot scaling system where position sizes increa
Need a broker for MT4?
Compare regulated brokers that support MetaTrader, with spreads, minimum deposits and leverage side by side.
Compare brokers