This MetaTrader 4 expert advisor is a scalper designed for the five-minute timeframe across several Forex pairs. It utilizes three strategies based on overbought and oversold market conditions to execute trades. Risk management features include a fixed hard stop loss, a virtual take profit and stop loss derived from an
Trading robot · MT4
Mark One FX Algo
This MetaTrader expert advisor implements a trading strategy based on Bollinger Bands.
GitHub stars1
Forks0
Last update7 years ago19 Nov 2018
LicenceNone stated
Overview
Mark One FX Algo primarily operates on the daily timeframe, using the indicator's upper and lower bands to identify potential trade entries. The robot includes standard risk management parameters, such as a fixed stop loss and take profit for every order. It also features automatic adjustments for three and five-digit pricing structures. While the repository documentation is very brief, the code provides a simple automated approach to trade management with adjustable lot sizes and magic numbers.
- Bollinger Bands signal logic
- Daily timeframe execution
- Fixed stop loss and take profit
- Automated point adjustment for brokers
Details
Author
jblewdv on GitHub
Type
Trading robot
Platform
MetaTrader 4 (MQL4)
Strategy
Mean reversion
Markets
Forex
Timeframes
H4 and above
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 Mark1.mq4. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
StopLoss | int | 30 | Stop Loss |
TakeProfit | int | 60 | Take Profit |
BB_Period | int | 5 | Bollinger Bands Period |
EA_Magic | int | 12345 | EA Magic Number |
Lot | double | 0.1 | Lots to Trade |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone jblewdv/FX-Algo 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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