This repository contains a collection of MetaTrader 4 expert advisors, with a primary focus on the XMT-Scalper system. The software implements a tick-scalping strategy that identifies reversals from channel breakouts using indicators such as Bollinger Bands and Moving Averages. It includes risk management features incl
Collection · MT4
RSI Grid and MT4 Expert Collection
This MetaTrader 4 repository contains a collection of trading tools, primarily featuring an automated RSI-based grid expert advisor.
High risk
GitHub stars1
Forks1
Last update7 years ago21 Aug 2019
LicenceNone stated
Overview
The system enters positions when the Relative Strength Index exceeds defined thresholds and manages them using a grid strategy with martingale lot multiplication. Risk controls include a maximum position limit, a fixed take profit in points, and an emergency exit function triggered by equity-to-balance ratios. The repository includes several other experts such as opening range breakout and mean reversion strategies, though it lacks a README.
- RSI threshold-based entry signals
- Martingale lot scaling with configurable factor
- Equity-to-balance emergency exit ratio
- Adjustable grid distance and position limits
- Automated lot scaling based on account balance
Details
Author
jensengelke on GitHub
Type
Collection
Platform
MetaTrader 4 (MQL4)
Strategy
Grid, Martingale, Mean reversion, Breakout
Markets
Any symbol
Timeframes
Any timeframe
Risk profile
- Uses martingale lot scaling: losses can grow fast
- Opens a grid of orders: exposure builds up in a trend
- Trades without a fixed stop loss
EA files
Input parameters
Read from rsi_grid.mq4. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
label0 | string | | +--- admin ---+ |
myMagic | int | 1 | |
tracelevel | int | 2 | |
backtest | bool | true | display balance and equity in chart |
chartLabel | string | RSI grid | |
label1 | string | | +--- entry signal ---+ |
rsiPeriod | int | 6 | |
rsiDistance | double | 15.0 | RSI threshold in % from upper and lower end |
label2 | string | | +--- money management ---+ |
lots | double | 0.01 | |
maxPositions | int | 6 | max number of positions |
tpPoints | double | 400 |
Show all 18 inputs
| Name | Type | Default | Description |
|---|---|---|---|
martingaleFactor | double | 2.5 | |
martingaleMinDistance | double | 100 | |
increaseSizeEvery | double | 1500.0 | auto-scale (initial account size or 0.0 to disable) |
emergencyExitRatio | double | 0.6 | emergency exit: balance/equity ratio (0.0 to disable) |
pyramide | bool | true | new position size in profit |
abortInEmergency | bool | true |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone jensengelke/MT4 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, 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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