This MetaTrader 4 expert advisor operates two concurrent strategy groups based on technical indicators. It primarily utilizes Bollinger Bands and Envelopes to identify market entries for automated trading. The robot employs a position scaling approach, using lot multipliers and fixed-distance grid additions to manage t
Trading robot · MT4
Forex Setka Trader
Forex Setka Trader is an automated grid trading robot designed for the MetaTrader 4 platform.
High risk
GitHub stars2
Forks0
Last update4 years ago16 Feb 2022
LicenceNone stated
Overview
Forex Setka Trader operates primarily on the M1 timeframe, opening a series of trades at fixed intervals defined by a step parameter. The expert advisor employs martingale-style lot scaling through a multiplier factor to manage basket positions. Risk management features include a maximum order limit and a safe equity stop-out function based on a risk percentage. It utilizes take profit targets and optional trailing stop functionality for exits. The documentation is minimal, focusing on its legacy name FXGT.
- Martingale lot scaling with MultiLotsFactor
- Fixed distance grid trading mechanism
- Safe equity stop out protection
- Integrated trailing stop functionality
Details
Author
Aomforex on GitHub
Type
Trading robot
Platform
MetaTrader 4 (MQL4)
Strategy
Grid, Martingale
Markets
Forex
Timeframes
M1-M5
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 Forex_Setka_Trader_1.6.mq4. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
ShowTradeComment | bool | TRUE | |
Lots | double | 0.5 | |
MultiLotsFactor | double | 1.4 | |
StepLots | double | 15.0 | |
TakeProfit | double | 15.0 | |
UseTrailing | bool | FALSE | |
TrailStart | double | 38.0 | |
TrailStop | double | 18.0 | |
MaxOpenOrders | int | 10 | |
SafeEquityStopOut | bool | FALSE | |
SafeEquityRisk | double | 7 | |
Close_All_Orders | bool | FALSE |
Show all 13 inputs
| Name | Type | Default | Description |
|---|---|---|---|
TradeComment | string | FXGT |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone Aomforex/Forexsetka-1.6 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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