This expert advisor for MetaTrader 4 focuses on gold trading using daily price extremes and moving averages. It calculates the 7-day Simple Moving Average and identifies the highest price points from the previous five trading days to determine market direction. The EA executes its logic on a five-second timer interval
Trading robot · MT4
Inside Bar Momentum
Inside Bar Momentum is a MetaTrader 4 expert advisor that identifies and trades candlestick breakout patterns.
GitHub stars1
Forks1
Last update6 years ago14 Aug 2020
LicenceNone stated
Overview
The robot scans for inside bar formations, where a candle is completely contained within the previous candle's price range. It uses a stochastic oscillator to filter momentum, requiring specific overbought or oversold conditions before execution. Trade management involves placing pending orders at price offsets with calculated stop loss and take profit levels. Risk controls include a choice between fixed lot sizes or dynamic sizing based on a percentage of account equity.
- Inside bar price action detection
- Stochastic momentum filter integration
- Dynamic equity-based lot sizing
- Automated trade management with stop levels
Details
Author
Martian4x on GitHub
Type
Trading robot
Platform
MetaTrader 4 (MQL4)
Strategy
Breakout, Mean reversion
Markets
Any symbol
Timeframes
Any timeframe
Risk profile
No grid, martingale or hedging logic was found in its code or README. That says nothing about how it performs: backtest it first.
EA files
Input parameters
Read from InsideBar.mq4. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
DynamicLotSize | bool | true | |
EquityPercent | double | 1 | |
FixedLotSize | double | 0.01 | |
Kperiod | int | 14 | |
Dperiod | int | 5 | |
Slowing | int | 3 | |
PriceField | int | 0 | |
UpperLevel | int | 70 | |
LowerLevel | int | 30 | |
Slippage | int | 2 | |
AdjustPips | int | 2 | |
MagicNumber | int | 2112 |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone Martian4x/InsideBar 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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