NeoFL EA Collection: Free MT5 Expert Advisor

Overview

The library includes specialized engines for gold, forex, and candle level revisits. The primary Candle Revisit EA uses M5 price action analysis for entries while employing an M1 observer for trade protection. It manages risk through recovery baskets, an internal fund-risk engine, and optional martingale lot scaling. Crucially, several versions are designed without initial stop losses, relying on emergency liquidity-sweep protocols and recovery logic to exit adverse positions.

Multi-timeframe M5 entry and M1 protection engines

Candle classification based on body-to-wick ratios

Automated recovery baskets with optional martingale scaling

Emergency liquidity-sweep protection and broker-side stops

Integrated fund-risk engine for capital allocation policy

Input parameters

Read from NeoFL_Candle_Revisit_Engine_v3_85_BACKTEST.mq5. Defaults are the author's; change them in the EA's Inputs tab.

Name	Type	Default	Description
`InpTimeframe`	`ENUM_TIMEFRAMES`	`PERIOD_M5`
`InpLots`	`double`	`0.01`	HARD START CEILING: main M5 entry can never exceed 0.01 lots
`InpMagic`	`ulong`	`26081401`
`InpDeviationPoints`	`int`	`20`
`InpFillingMode`	`ENUM_ORDER_TYPE_FILLING`	`ORDER_FILLING_FOK`
`InpWicklessRatio`	`double`	`0.15`	total wick / range
`InpWickedEndRatio`	`double`	`0.40`	one-side wick / range
`InpMinBodyRatio`	`double`	`0.70`	wickless minimum body / range
`InpTolerancePoints`	`int`	`30`
`InpResetPoints`	`int`	`60`
`InpMaxLevelAgeBars`	`int`	`500`
`InpMaxLevels`	`int`	`200`

Show all 40 inputs

Name	Type	Default	Description
`InpTPMode`	`ENUM_TP_MODE`	`TP_FIXED_R`
`InpRiskReward`	`double`	`2.0`
`InpSLBufferPoints`	`int`	`0`	UNUSED: SL removed by design
`InpExtremeBufferPts`	`int`	`0`	UNUSED: SL removed by design
`InpM5ATRPeriod`	`int`	`14`
`InpMinLotM5`	`double`	`0.01`
`InpM1InsideM5TolerancePts`	`int`	`20`	M1 protection must remain inside the last closed M5 range
`InpEmergencyProtection`	`bool`	`false`
`InpEmergencyMinPoints`	`int`	`50`
`InpEmergencyDistanceATR`	`double`	`1.00`
`InpEmergencyBrokerSL`	`bool`	`true`
`InpEmergencyMaxLossMoney`	`double`	`0.0`	0 = disabled; emergency breach remains active
`InpMinSL_ATR_Mult`	`double`	`0.00`	UNUSED: SL removed by design
`InpM1Trail_ATR_Mult`	`double`	`1.50`	minimum M1 trailing distance
`InpOnePositionOnly`	`bool`	`true`
`InpOneTradePerBar`	`bool`	`true`
`InpUseMartingale`	`bool`	`false`
`InpMartingaleMultiplier`	`double`	`2.0`
`InpMaxMartingaleSteps`	`int`	`5`
`InpMaxLot`	`double`	`10.0`
`InpAllowOppositeRecovery`	`bool`	`true`
`InpAllowM1OppositeProtection`	`bool`	`true`	M1 may protect an existing M5 trade
`InpRecoveryTargetATR`	`double`	`1.00`
`InpRecoveryExtraProfitMoney`	`double`	`0.0`	basket must reach at least this combined profit before recovery basket closes
`InpProfitFarFromTPPct`	`double`	`0.35`	remaining TP distance / original TP distance
`InpOppositeNormalLotFactor`	`double`	`1.0`
`InpUseFundEngine`	`bool`	`true`
`InpSafetyReservePct`	`double`	`20.0`	capital never allocated to new exposure

How to install it

1Download the sourceUse "Download source (.zip)" above, or clone neofinn/neofl from GitHub, and unzip it.

2Open the data folderIn MetaTrader choose File, then Open Data Folder, and go to MQL5/Experts.

3Copy the filesCopy the .mq5 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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NeoFL EA Collection

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