MQL4 AlgoTrade Collection: Free MT4 Expert Advisor

Overview

The primary logic utilizes dual moving average crossovers combined with momentum filters and divergence checks to identify entries. It features comprehensive risk management tools such as fixed stop losses, money-based take profits, and automated break-even adjustments. Users can implement standard trailing stops or specialized candle-based trailing logic. The code includes equity-based protection to limit total account risk, though the repository lacks a README for detailed setup instructions.

Dual moving average crossover with momentum filters

Multiple trailing stop modes including candle-based logic

Integrated equity risk management and drawdown protection

Automated break-even and pad amount settings

Details

Author

pcaspa on GitHub

Type

Collection

Platform

MetaTrader 4 (MQL4)

Strategy

Indicator crossover, Trend following

Markets

Forex

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

Source

github.com/pcaspa/MQL4-AlgoTrade

Input parameters

Read from Donchain.mq4. Defaults are the author's; change them in the EA's Inputs tab.

Name	Type	Default	Description
`TP_In_Money`	`double`	`10`
`BarsToCount`	`int`	`10`
`Exit`	`bool`	`false`	Enable Exit strategy
`tick`	`bool`	`true`	every tick\open price
`IncreaseFactor`	`double`	`0.001`	IncreaseFactor
`CandlesToRetrace`	`int`	`10`	Num.Of Candles For Divergence
`Lots`	`double`	`0.01`	Lots size
`TrailingStop`	`double`	`40`	TrailingStop
`Stop_Loss`	`double`	`20`	Stop Loss
`MagicNumber`	`int`	`1234`	MagicNumber
`Take_Profit`	`double`	`50`	TakeProfit
`FastMA`	`int`	`6`	FastMA

Show all 28 inputs

Name	Type	Default	Description
`SlowMA`	`int`	`85`	SlowMA
`Distance`	`double`	`5`	Distance
`Mom_Sell`	`double`	`0.3`	Momentum_Sell
`Mom_Buy`	`double`	`0.3`	Momentum_Buy
`UseEquityStop`	`bool`	`true`	Use Equity Stop
`TotalEquityRisk`	`double`	`1.0`	Total Equity Risk
`Max_Trades`	`int`	`10`
`USETRAILINGSTOP`	`bool`	`true`	IF USE TRAILING STOP
`WHENTOTRAIL`	`int`	`40`	WHEN TO TRAIL
`TRAILAMOUNT`	`int`	`40`	TRAIL AMOUNT
`PADAMOUNT`	`int`	`10`	PAD AMOUNT
`USECANDELTRAIL`	`bool`	`true`	USE CANDEL TRAIL
`X`	`int`	`3`	NUMBER OF CANDLES
`USEMOVETOBREAKEVEN`	`bool`	`true`	Enable "no loss"
`WHENTOMOVETOBE`	`double`	`30`	When to move break even
`PIPSTOMOVESL`	`double`	`30`	How much pips to move sl

How to install it

1Download the sourceUse "Download source (.zip)" above, or clone pcaspa/MQL4-AlgoTrade 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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