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
Jonny EA Simple
Jonny EA Simple is an automated trading robot for MetaTrader 4 that executes trades based on an algorithmic indicator using configurable look-back periods.
GitHub stars5
Forks3
Last update9 years ago24 Mar 2017
LicenceGPL-2.0
Overview
Jonny EA Simple manages risk by calculating position sizes as a percentage of the current account balance, ensuring lot sizing remains proportional to equity. For trade exits, the system employs a dual approach of fixed pip distances or ATR-based multipliers for stop loss and take profit levels. The expert advisor is designed to monitor multiple instruments simultaneously while restricting the total number of open trades. This tool remains in the development phase according to the documentation.
- ATR-based stop loss and take profit multipliers
- Account balance percentage risk scaling
- Multi-instrument monitoring and logging
- Configurable concurrent trade limit
Details
Author
JonnyKelso on GitHub
Type
Trading robot
Platform
MetaTrader 4 (MQL4)
Strategy
Trend following
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 jonnyEA__simple.mq4. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
CONST_EWT_PERIOD | const int | 21 | |
CONST_TRADE_PERCENT_RISK | const double | 5.0 | |
CONST_SL_ATR_MULTIPLIER | const double | 2.0 | |
CONST_TP_ATR_MULTIPLIER | const double | 2.0 | |
CONST_SL_PIPS | const int | 10 | |
CONST_TP_PIPS | const int | 55 |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone JonnyKelso/trades 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, and any .mqh files into the Include folder the code expects.
- 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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