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
Harey
Harey is a MetaTrader 4 expert advisor designed to trade mean-reversion setups using a combination of the Relative Strength Index (RSI) and Stochastic indicators.
High risk
GitHub stars9
Forks1
Last update5 years ago25 Nov 2020
LicenceNone stated
Overview
The system triggers trades when both indicators reach their respective overbought or oversold zones simultaneously. It manages risk through user-defined stop loss and take profit levels, along with a parameter to limit the maximum number of concurrent open trades. It also features a rest hour filter to avoid trading during specific periods. The robot supports fixed lot sizes or automated risk-based position sizing, though the README indicates the current logic requires further refinement.
- Dual indicator confluence entry logic
- Adjustable stop loss and take profit
- Configurable maximum open trades limit
- Time-based operational filters
Details
Author
visualxl on GitHub
Type
Trading robot
Platform
MetaTrader 4 (MQL4)
Strategy
Mean reversion, Martingale
Markets
Forex, Gold, Oil & commodities
Timeframes
M1-M5
Risk profile
- Uses martingale lot scaling: losses can grow fast
Topics
forexforex-tradingexpert-advisors
Input parameters
Read from Harey.mq4. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
MagicNumber | int | 21112020 | Give unique numbers for each pair |
AutoLotSize | MoneyManagement | No | Use money management |
Risk | double | 1 | Risk per trade in Percentage |
LotSize | double | 0.1 | Lot size |
StartRestHour | int | 3 | Stop trading |
EndRestHour | int | 8 | Start trading |
MaxOpenTrades | int | 3 | Max open trades |
StopLoss | double | 30 | |
TakeProfit | double | 30 | |
RSI_Oversold | int | 40 | |
RSI_Overbought | int | 60 | |
Stoc_Overbought | int | 80 |
Show all 13 inputs
| Name | Type | Default | Description |
|---|---|---|---|
Stoc_Oversold | int | 20 |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone visualxl/Harey 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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