Snipe FX Pro: Free MT5 Expert Advisor

Overview

Snipe FX Pro utilizes a virtual stealth execution system to manage entries and exits without placing hard stops on the broker's server until necessary. The EA enters trades based on price breakouts or pullbacks, filtered by EMA trend direction and ATR volatility levels. Risk management is handled through ATR-based dynamic stop losses, reward-to-risk ratio targets, and a daily loss guard. It includes trailing stops and break-even logic to protect capital. Notable features include slippage control, spread filters, and loss cooldown periods to mitigate overtrading during adverse market conditions.

Virtual stealth execution for stops and targets

ATR-based dynamic stop loss and reward ratio

Dual EMA trend and ATR volatility filters

Integrated daily loss guard and cooldown timer

Customizable breakout and pullback entry modes

Details

Author

NadirAliOfficial on GitHub

Type

Trading robot

Platform

MetaTrader 5 (MQL5)

Strategy

Scalping, Trend following, Mean reversion

Markets

Forex, Gold

Timeframes

M1-M5, M15-H1

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

Topics

algorithmic-tradingexpert-advisorforexmetatrader5mql5mt5scalpingtrading-bottrading-strategyxauusd

Source

github.com/NadirAliOfficial/snipe-fx-ea

Input parameters

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

Name	Type	Default	Description
`LotSize`	`double`	`0.01`	Lot size
`MagicNumber`	`long`	`730115`	Magic number (isolates this EA)
`DistancePips`	`double`	`2.0`	Virtual stop distance from price
`PendingExpirySec`	`int`	`5`	Virtual pending lifetime (sec)
`MaxSpreadPips`	`double`	`1.5`	Max spread allowed to arm
`ReverseEntry`	`bool`	`false`	Fade the break instead of following it
`LossCooldownSec`	`int`	`0`	Pause after a losing trade (sec, 0 = off)
`MaxConsecLosses`	`int`	`0`	Pause the day after N losses in a row (0 = off)
`UseBarAnchor`	`bool`	`false`	Break a real level instead of a rolling price
`AnchorBars`	`int`	`3`	Bars whose high/low form that level
`AnchorTfIndex`	`int`	`0`	0=M1 1=M5 2=M15 3=M30 4=H1 (level timeframe)
`TrendTfIndex`	`int`	`-1`	1 = use TrendTimeframe, else 0=M1 1=M5 2=M15 3=M30 4=H1

Show all 40 inputs

Name	Type	Default	Description
`UseLimitEntry`	`bool`	`false`	Wait for a pullback instead of buying the break
`PullbackPips`	`double`	`1.0`	How far back from the trigger to wait
`LimitValidSec`	`int`	`30`	Give up on the pullback after this
`UseTrendFilter`	`bool`	`true`	Only trade with trend
`TrendTimeframe`	`ENUM_TIMEFRAMES`	`PERIOD_M1`	Trend timeframe
`FastEmaPeriod`	`int`	`8`	Fast EMA
`SlowEmaPeriod`	`int`	`21`	Slow EMA
`UseVolFilter`	`bool`	`true`	Skip dead market
`MinAtrPips`	`double`	`1.0`	Min ATR to trade
`UseAtrStop`	`bool`	`true`	ATR based working stop
`AtrPeriod`	`int`	`14`	ATR period
`AtrSlMultiplier`	`double`	`1.2`	ATR x this = working stop
`MinStopPips`	`double`	`2.0`	Floor for working stop
`MaxStopPips`	`double`	`8.0`	Cap for working stop
`FixedStopPips`	`double`	`4.0`	Used when UseAtrStop = false
`EmergencySlPips`	`double`	`20.0`	Broker side disaster stop (floor)
`EmergencyTpPips`	`double`	`40.0`	Broker side disaster target (floor)
`EmergencyMultiple`	`double`	`3.0`	Disaster stop must also be this x the working stop
`UseRiskRewardTp`	`bool`	`true`	TP = working stop x ratio
`RewardRatio`	`double`	`1.3`	Reward to risk ratio
`FixedTakeProfitPips`	`double`	`3.0`	Used when UseRiskRewardTp = false
`UseBreakEven`	`bool`	`true`	Move to break even
`BreakEvenTriggerPips`	`double`	`1.5`	Profit to trigger break even
`BreakEvenLockPips`	`double`	`0.3`	Profit locked at break even
`UseTrailing`	`bool`	`true`	Trail behind price
`TrailingStartPips`	`double`	`2.5`	Profit to start trailing
`TrailingDistancePips`	`double`	`1.2`	Trail distance (must be < start)
`TrailingStepPips`	`double`	`0.2`	Min improvement to move stop

How to install it

1Download the sourceUse "Download source (.zip)" above, or clone NadirAliOfficial/snipe-fx-ea 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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