PeterThomet MetaTrader Tools: Free MT4/MT5 Expert Advisor

Overview

This manager enables manual execution via keyboard shortcuts and provides automated risk controls, including ATR-based break-even settings and trailing stops. The collection also offers strategy snippets for London session breakouts and indicators for currency strength and pivot points. Risk management is prioritized through features like daily loss limits, basket management, and hedging at stop loss levels. While the repository contains legacy MetaTrader 4 code, the developer currently focuses on updating and improving the MetaTrader 5 versions.

Keyboard-based manual execution and order modification

ATR-based break-even and trailing stop logic

Suite of indicators including currency strength and pivots

Risk management tools for daily loss and equity protection

Strategy snippets for automated London session breakouts

Details

Author

peterthomet on GitHub

Type

Collection

Platform

MetaTrader 4 (MQL4) and MetaTrader 5 (MQL5)

Strategy

Breakout, Hedging

Markets

Forex

Timeframes

Any timeframe

Risk profile

Holds opposite positions at once

EA files

About 14 expert advisors in this repository. See them all on GitHub.

Topics

mql5mql4metatraderforextrading-systemstrading-algorithmstrading

Source

github.com/peterthomet/MetaTrader-5-and-4-Tools

Input parameters

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

Name	Type	Default
`Instance`	`TypeInstance`	`1`
`Automation`	`TypeAutomation`	`NoAutomation`
`BreakEvenAfterPercentATR`	`double`	`10`
`AboveBEPercentATR`	`double`	`4`
`StartTrailingPips`	`double`	`7`
`TakeProfitPips`	`double`	`0`
`StopLossPips`	`double`	`0`
`SetTerminalStopLoss`	`bool`	`false`
`HedgeAtStopLoss`	`bool`	`false`
`HedgeVolumeFactor`	`double`	`1`
`HedgeFlatAtLevel`	`double`	`5`
`TakeProfitPercentTradingCapital`	`double`	`0`

Show all 40 inputs

Name	Type	Default	Description
`StopLossPercentTradingCapital`	`double`	`0`
`MaxDailyLoss`	`double`	`0`
`StopLossPercentTradingCapitalAction`	`TypeStopLossPercentTradingCapitalAction`	`CloseAllTrades`
`CloseTradesBeforeMidnight`	`bool`	`false`
`CloseTradesBeforeMidnightHour`	`int`	`23`
`CloseTradesBeforeMidnightMinute`	`int`	`00`
`ActivateTrailing`	`bool`	`false`
`TrailingFactor`	`double`	`0.6`
`OpenLots`	`double`	`0.01`
`ExecutionTest`	`bool`	`false`
`ShowInfo`	`bool`	`true`
`TextColor`	`color`	`Gray`
`TextColorBold`	`color`	`Black`
`TextColorInfo`	`color`	`DodgerBlue`
`TextColorPlus`	`color`	`MediumSeaGreen`
`TextColorMinus`	`color`	`DeepPink`
`Color_USD`	`color`	`MediumSeaGreen`	USD color
`Color_EUR`	`color`	`DodgerBlue`	EUR color
`Color_GBP`	`color`	`DeepPink`	GBP color
`Color_CHF`	`color`	`Black`	CHF color
`Color_JPY`	`color`	`Chocolate`	JPY color
`Color_AUD`	`color`	`DarkOrange`	AUD color
`Color_CAD`	`color`	`MediumVioletRed`	CAD color
`Color_NZD`	`color`	`Silver`	NZD color
`FontName`	`string`	`Arial`
`FontSize`	`int`	`9`
`TextGap`	`int`	`16`
`ManageOwnTradesOnly`	`bool`	`true`

How to install it

1Download the sourceUse "Download source (.zip)" above, or clone peterthomet/MetaTrader-5-and-4-Tools from GitHub, and unzip it.

2Open the data folderIn MetaTrader choose File, then Open Data Folder, and go to MQL4/Experts or MQL5/Experts.

3Copy the filesCopy the .mq4 / .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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