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
MFI Expert
This MetaTrader 4 expert advisor implements a trading strategy centered on the Money Flow Index (MFI) indicator.
High risk
GitHub stars1
Forks0
Last update5 years ago5 Oct 2020
LicenceNone stated
Overview
MFI Expert opens buy positions when the MFI crosses below a user-defined threshold and sell positions when it crosses above a threshold. To manage losing trades, the EA employs a martingale-style lot scaling mechanism, opening up to eight sequential orders at increasing pip distances with progressively larger lot sizes. Exits are triggered when the MFI reaches specific exit levels. The README is minimal, and the code relies on indicator crosses for trade management.
- Money Flow Index based entries
- Configurable overbought and oversold levels
- Eight-stage martingale lot scaling
- Distance-based grid averaging
- Automated indicator-based exit signals
Details
Author
Hamzeh24w on GitHub
Type
Trading robot
Platform
MetaTrader 4 (MQL4)
Strategy
Mean reversion, Martingale, Grid
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
- Trades without a fixed stop loss
EA files
Input parameters
Read from MFIexpert.mq4. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
sellstart | int | 80 | vorud sell |
sellend | int | 30 | exit sell |
buystart | int | 20 | vorud buy |
buyend | int | 70 | exit buy |
acceptedshib | double | 0 | |
MFI_Period | int | 20 | |
lotSize1 | double | 0.01 | |
lotSize2 | double | 0.02 | |
lotSize3 | double | 0.03 | |
lotSize4 | double | 0.04 | |
lotSize5 | double | 0.05 | |
lotSize6 | double | 0.06 |
Show all 21 inputs
| Name | Type | Default | Description |
|---|---|---|---|
lotSize7 | double | 0.07 | |
lotSize8 | double | 0.08 | |
pipDiff2 | int | 200 | |
pipDiff3 | int | 300 | |
pipDiff4 | int | 400 | |
pipDiff5 | int | 500 | |
pipDiff6 | int | 600 | |
pipDiff7 | int | 600 | |
pipDiff8 | int | 600 |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone Hamzeh24w/MFI_Expert 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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