This MetaTrader 4 robot implements a grid-based hedging strategy triggered by inside bar price formations. It places multiple pending orders on both sides of a breakout and uses martingale lot scaling to increase position sizes for subsequent entries. The expert advisor is designed for the H4 and Daily timeframes, util
Trading robot · MT4
Richer Machine
Richer Machine is a MetaTrader 4 expert advisor designed for automated breakout trading using Bollinger Bands and custom price levels.
High risk
GitHub stars1
Forks3
Last update7 years ago24 Jan 2019
LicenceNone stated
Overview
Richer Machine initiates trades when price closes outside the bands, subsequently placing Buy Stop and Sell Stop orders at intervals defined by a Fibonacci-width parameter. The system manages risk through fixed lot sizing and assigns stop loss and take profit values to each pending order based on the calculated grid. Developed as a learning project, the repository features a minimal README and focuses on basic algorithmic execution and order management logic.
- Bollinger Band breakout detection
- Automated pending order placement
- Custom Fibonacci-based grid levels
- Fixed lot sizing
Details
Author
SeedMQL on GitHub
Type
Trading robot
Platform
MetaTrader 4 (MQL4)
Strategy
Breakout, Grid
Markets
Any symbol
Timeframes
Any timeframe
Risk profile
- Opens a grid of orders: exposure builds up in a trend
EA files
Source
Input parameters
Read from RicherMachine.mq4. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
iBandPeriod | int | 20 | |
iBandDeviations | double | 2 | |
iBandShift | int | 0 | |
fiboWidth | double | 100 | |
lots | double | 0.1 | |
slippage | int | 3 |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone SeedMQL/MQL4 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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