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
Forex Trend Trader
This expert advisor for MetaTrader 4 executes a trend-following strategy using technical indicators.
High risk
GitHub stars2
Forks0
Last update6 years ago2 Dec 2019
LicenceNone stated
Overview
Forex Trend Trader calculates entry signals by monitoring moving averages and utilizes price envelopes as a volatility filter. The system also tracks the Average True Range to evaluate momentum and market shifts. Risk management includes fixed stop loss and take profit levels, as well as an optional position sizing algorithm based on account risk percentages. The project is currently a work in progress with minimal documentation provided in the repository.
- Trend identification using moving averages
- Volatility filtering with price envelopes
- Momentum tracking via Average True Range
- Dynamic risk-based lot sizing algorithm
- Hard stop loss and take profit targets
Details
Author
Daiwv on GitHub
Type
Trading robot
Platform
MetaTrader 4 (MQL4)
Strategy
Trend following, Indicator crossover, Martingale
Markets
Forex
Timeframes
Any timeframe
Risk profile
- Uses martingale lot scaling: losses can grow fast
EA files
Input parameters
Read from TrendTrader.mq4. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
Lots | double | 1.0 | |
TakeProfit | double | 950 | |
StopLoss | double | 60 | |
MA_Period | int | 160 | |
Deviation | double | 0.3 | |
ATR_Period | int | 50 | |
ATR_Shift | int | 2 | |
isSizingOn | bool | true | |
Risk | double | 1 |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone Daiwv/Forex-Trend-Trader 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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