Simple Trend EA Collection: Free MT4 Expert Advisor

Overview

The primary logic uses Donchian Channel breakouts with configurable periods for entries and exits. It features robust risk management, including percentage-based lot sizing and volatility-based stop loss and take profit levels calculated using ATR. Additional utilities include trailing stops, breakeven functions, and hidden exit levels. The repository includes multiple EA variants and a trend indicator, though documentation is minimal and primarily contained within the source code comments.

Donchian Channel entry and exit logic

Percentage-based risk position sizing

Volatility-based stop loss and take profit

Trailing and breakeven stop functionality

Details

Author

97joseph on GitHub

Type

Collection

Platform

MetaTrader 4 (MQL4)

Strategy

Trend following, Breakout

Markets

Any symbol

Timeframes

Any timeframe

Risk profile

No grid, martingale or hedging logic was found in its code or README. That says nothing about how it performs: backtest it first.

EA files

Source

github.com/97joseph/EA

Input parameters

Read from SimpleComprehensivePostions.mq4. Defaults are the author's; change them in the EA's Inputs tab.

Name	Type	Default	Description
`Header1`	`string`	`----------Trading Rules Variables-----------`
`DonchianPeriodsEntry`	`int`	`20`
`DonchianPeriodsExit`	`int`	`10`
`MaxBars`	`int`	`50`
`Header2`	`string`	`----------Position Sizing Settings-----------`
`Lot_explanation`	`string`	`If IsSizingOn = true, Lots variable will be ignored`
`Lots`	`double`	`0`
`IsSizingOn`	`bool`	`True`
`Risk`	`double`	`2`	Risk per trade (in percentage)
`Header3`	`string`	`----------TP & SL Settings-----------`
`UseFixedStopLoss`	`bool`	`True`	If this is false and IsSizingOn = True, sizing algo will not be able to calculate correct lot size.
`FixedStopLoss`	`double`	`0`	Hard Stop in Pips. Will be overridden if vol-based SL is true

Show all 40 inputs

Name	Type	Default	Description
`IsVolatilityStopOn`	`bool`	`True`
`VolBasedSLMultiplier`	`double`	`2`	Stop Loss Amount in units of Volatility
`UseFixedTakeProfit`	`bool`	`False`
`FixedTakeProfit`	`double`	`0`	Hard Take Profit in Pips. Will be overridden if vol-based TP is true
`IsVolatilityTakeProfitOn`	`bool`	`False`
`VolBasedTPMultiplier`	`double`	`0`	Take Profit Amount in units of Volatility
`Header4`	`string`	`----------Hidden TP & SL Settings-----------`
`UseHiddenStopLoss`	`bool`	`False`
`FixedStopLoss_Hidden`	`double`	`0`	In Pips. Will be overridden if hidden vol-based SL is true
`IsVolatilityStopLossOn_Hidden`	`bool`	`False`
`VolBasedSLMultiplier_Hidden`	`double`	`0`	Stop Loss Amount in units of Volatility
`UseHiddenTakeProfit`	`bool`	`False`
`FixedTakeProfit_Hidden`	`double`	`0`	In Pips. Will be overridden if hidden vol-based TP is true
`IsVolatilityTakeProfitOn_Hidden`	`bool`	`False`
`VolBasedTPMultiplier_Hidden`	`double`	`0`	Take Profit Amount in units of Volatility
`Header5`	`string`	`----------Breakeven Stops Settings-----------`
`UseBreakevenStops`	`bool`	`False`
`BreakevenBuffer`	`double`	`0`	In pips
`Header6`	`string`	`----------Hidden Breakeven Stops Settings-----------`
`UseHiddenBreakevenStops`	`bool`	`False`
`BreakevenBuffer_Hidden`	`double`	`0`	In pips
`Header7`	`string`	`----------Trailing Stops Settings-----------`
`UseTrailingStops`	`bool`	`False`
`TrailingStopDistance`	`double`	`0`	In pips
`TrailingStopBuffer`	`double`	`0`	In pips
`Header8`	`string`	`----------Hidden Trailing Stops Settings-----------`
`UseHiddenTrailingStops`	`bool`	`False`
`TrailingStopDistance_Hidden`	`double`	`0`	In pips

How to install it

1Download the sourceUse "Download source (.zip)" above, or clone 97joseph/EA 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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