Raven Cost Averaging: Free MT5 Expert Advisor

Overview

The system employs a hedging strategy, opening initial buy and sell positions and layering subsequent trades at fixed pip distances. It includes an optional M15 SMA 200 filter for primary entries. Risk is managed through adjustable maximum layer limits and independent settings for each pair. The EA features an interactive dashboard for monitoring exposure, real-time floating profit, and pausing operations manually. It relies on broker-side take profit targets rather than individual stop losses.

Multi-pair grid management

On-chart control dashboard

SMA 200 trend filter

Broker-side take profit execution

Details

Author

randiapriliyadiR on GitHub

Type

Trading robot

Platform

MetaTrader 5 (MQL5)

Strategy

Grid, Hedging, Indicator crossover

Markets

Forex

Timeframes

M15-H1

Risk profile

Opens a grid of orders: exposure builds up in a trend
Holds opposite positions at once
Trades without a fixed stop loss

EA files

Raven Cost Averaging.mq5

Source

github.com/randiapriliyadiR/raven-cost-averaging

Input parameters

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

Name	Type	Default	Description
`InpSectionGeneral`	`string`	`=== General ===`
`MaxLayers`	`int`	`0`	Max Layers (0 = no limit)
`MaxLayerScope`	`ENUM_MAX_LAYER_SCOPE`	`MAX_LAYER_MAGIC_ONLY`	Max Layer Scope
`SymbolSuffix`	`string`	`c`	Symbol Suffix (empty = none)
`InpSectionOps`	`string`	`=== Operations ===`
`ShowPanel`	`bool`	`true`	Show Panel
`InpSectionEntry`	`string`	`=== Entry Filter ===`
`UseSmaEntryFilter`	`bool`	`true`	SMA200 entry filter (default)
`SmaTimeframe`	`ENUM_TIMEFRAMES`	`PERIOD_M15`	SMA200 timeframe
`InpSectionEURUSD`	`string`	`=== EURUSD ===`
`EURUSD_Enable`	`bool`	`true`	Enable EURUSD
`EURUSD_Lot`	`double`	`0.1`	Lot EURUSD

Show all 40 inputs

Name	Type	Default	Description
`EURUSD_PipStep`	`int`	`10`	Pip Step EURUSD
`EURUSD_Magic`	`ulong`	`111111`	Magic EURUSD
`InpSectionGBPUSD`	`string`	`=== GBPUSD ===`
`GBPUSD_Enable`	`bool`	`true`	Enable GBPUSD
`GBPUSD_Lot`	`double`	`0.1`	Lot GBPUSD
`GBPUSD_PipStep`	`int`	`14`	Pip Step GBPUSD
`GBPUSD_Magic`	`ulong`	`222222`	Magic GBPUSD
`InpSectionUSDCHF`	`string`	`=== USDCHF ===`
`USDCHF_Enable`	`bool`	`true`	Enable USDCHF
`USDCHF_Lot`	`double`	`0.1`	Lot USDCHF
`USDCHF_PipStep`	`int`	`9`	Pip Step USDCHF
`USDCHF_Magic`	`ulong`	`333333`	Magic USDCHF
`InpSectionNZDUSD`	`string`	`=== NZDUSD ===`
`NZDUSD_Enable`	`bool`	`true`	Enable NZDUSD
`NZDUSD_Lot`	`double`	`0.1`	Lot NZDUSD
`NZDUSD_PipStep`	`int`	`8`	Pip Step NZDUSD
`NZDUSD_Magic`	`ulong`	`444444`	Magic NZDUSD
`InpSectionAUDUSD`	`string`	`=== AUDUSD ===`
`AUDUSD_Enable`	`bool`	`true`	Enable AUDUSD
`AUDUSD_Lot`	`double`	`0.1`	Lot AUDUSD
`AUDUSD_PipStep`	`int`	`9`	Pip Step AUDUSD
`AUDUSD_Magic`	`ulong`	`555555`	Magic AUDUSD
`InpSectionUSDJPY`	`string`	`=== USDJPY ===`
`USDJPY_Enable`	`bool`	`true`	Enable USDJPY
`USDJPY_Lot`	`double`	`0.1`	Lot USDJPY
`USDJPY_PipStep`	`int`	`130`	Pip Step USDJPY
`USDJPY_Magic`	`ulong`	`666666`	Magic USDJPY
`InpSectionUSDCAD`	`string`	`=== USDCAD ===`

How to install it

1Download the sourceUse "Download source (.zip)" above, or clone randiapriliyadiR/raven-cost-averaging 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.

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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