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
Icarus EA
Icarus EA is a MetaTrader 4 robot that executes a grid trading strategy with lot size progression.
High risk
GitHub stars1
Forks0
Last update4 years ago16 Feb 2022
LicenceNone stated
Overview
Icarus EA opens sequences of trades at fixed intervals and uses a multiplier to scale lot sizes, identifying it as a martingale-style system. Risk controls include an equity warning threshold, a maximum number of concurrent positions, and a spread filter. The EA also incorporates a profit-locking mechanism and unbalance control to manage basket exposure. The repository provides no documentation or specific market recommendations.
- Grid trading strategy
- Lot size progression multiplier
- Maximum position limit
- Equity warning system
- Integrated profit lock
Details
Author
Aomforex on GitHub
Type
Trading robot
Platform
MetaTrader 4 (MQL4)
Strategy
Grid, Martingale, Hedging
Markets
Any symbol
Timeframes
Any timeframe
Risk profile
- Uses martingale lot scaling: losses can grow fast
- 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 Icarus_2.2.mq4. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
magic | int | 11235 | |
grid_size | int | 20 | Grid_Size |
gs_progression | int | 3 | GS_Progression |
take_profit | int | 20 | Take_Profit |
profit_lock | double | 0.3 | Profit_Lock |
min_lots | double | 0.01 | Min_lots |
equity_warning | double | 0.20 | Equity_Warning |
account_risk | double | 1.00 | Account_Risk |
progression | int | 3 | Progression |
max_positions | int | 6 | Max_Position |
unbalance_control | int | 0 | unbalanced_Control |
max_spread | int | 100 | Max_Spread |
Show all 13 inputs
| Name | Type | Default | Description |
|---|---|---|---|
show_forecast | int | 1 | Show_Forecast |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone Aomforex/EA-IRAcus-2.2 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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