Smith MQL5: Free MT5 Expert Advisor

Overview

The system evaluates price action across multiple timeframes, from M1 to weekly charts, to determine entry points. It includes trade management features such as fixed or dynamic lot sizing based on risk percentage, alongside predefined stop loss and take profit levels. The EA contains sixteen boolean parameters for strategy customization, although the repository lacks a README to explain their specific logic.

Multi-timeframe indicator analysis

Dynamic risk-based lot size calculation

Integrated Stop Loss and Take Profit controls

Sixteen toggleable logic parameters

Details

Author

IlyaSaniukevich on GitHub

Type

Trading robot

Platform

MetaTrader 5 (MQL5)

Strategy

Indicator crossover, Mean reversion

Markets

Forex

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

Smith.mq5

Source

github.com/IlyaSaniukevich/Smith_mql5

Input parameters

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

Name	Type	Default
`StopLoss`	`int`	`55`
`TakeProfit`	`int`	`125`
`StopLoss`	`int`	`130`
`Slippage`	`int`	`5`
`Debug`	`bool`	`true`
`Lots`	`double`	`0.1`
`CalculateLot`	`bool`	`true`
`Risk`	`double`	`1`
`Par1`	`bool`	`true`
`Par2`	`bool`	`true`
`Par3`	`bool`	`true`
`Par4`	`bool`	`true`

Show all 24 inputs

Name	Type	Default
`Par5`	`bool`	`true`
`Par6`	`bool`	`true`
`Par7`	`bool`	`true`
`Par8`	`bool`	`true`
`Par9`	`bool`	`true`
`Par10`	`bool`	`true`
`Par11`	`bool`	`true`
`Par12`	`bool`	`true`
`Par13`	`bool`	`true`
`Par14`	`bool`	`true`
`Par15`	`bool`	`true`
`Par16`	`bool`	`true`

How to install it

1Download the sourceUse "Download source (.zip)" above, or clone IlyaSaniukevich/Smith_mql5 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, 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.

Similar expert advisors

EA31337 Libre

by EA31337

252

EA31337 Libre is an open-source, multi-strategy trading robot for MetaTrader 4 and MetaTrader 5. It functions as a simplified implementation of the EA31337 framework, providing a collection of over 35 built-in strategies based on technical indicators. The expert advisor performs independent market analysis across vario

MT5 Trading robot Multi-strategyTrend followingMean reversion

Updated 1 year ago GPL-3.0 GitHub

Introduction MQL5 Book EA

by rafaelfvcs

This MetaTrader 5 expert advisor serves as an educational example from a book on MQL5 programming. It implements a versatile trading system that can be configured to use moving average crossovers, Relative Strength Index levels, or both indicators combined for trade entries. The EA manages risk with user-defined stop l

MT5 Trading robot Indicator crossoverMean reversion

Updated 6 years ago None stated GitHub

Allegro Stormer

by ReneMilare

Allegro Stormer is a MetaTrader 5 expert advisor that implements a specific technical setup based on momentum and oscillator indicators. It utilizes a Momentum indicator filtered by a moving average alongside a Stochastic Oscillator to identify entry points. Risk management is centralized around the Average True Range,

MT5 Trading robot Mean reversionIndicator crossover

Updated 6 years ago None stated GitHub

Scalpflip EA

by anthonycdp

Scalpflip EA is an automated scalping robot for MetaTrader 5 that utilizes a multi-layered technical analysis approach. It offers three entry modes: trend-following, mean-reversion, and a smart mode that selects the strategy based on current market conditions. The system filters trades using the Relative Strength Index

MT5 Trading robot ScalpingTrend followingMean reversion

Updated 1 year ago None stated GitHub

MonsterFX Reliable Trader

by NadirAliOfficial

This MetaTrader 5 expert advisor combines automated Forex trading with a Discord notification system via a Python Flask webhook. It executes a dual-timeframe strategy using EMA crossovers, a 200-period trend filter, RSI, and VWAP on the M5 and M15 charts. The EA manages trades with ATR-based stop loss and take profit l

MT5 Trading robot Indicator crossoverTrend followingMean reversion

Updated 2 days ago MIT GitHub

FG Scalping Pro

by FaizGusion00

FG Scalping Pro is an automated trading system for MetaTrader 5 that utilizes a multi-indicator approach to identify entry points. It combines exponential moving average crossovers with RSI momentum and Bollinger Band volatility filters to execute trades. The EA manages risk through dynamic ATR-based stop loss and take

MT5 Trading robot ScalpingIndicator crossoverMean reversion

Updated 1 year ago Custom licence GitHub