This MetaTrader 4 expert advisor is a scalper designed for the five-minute timeframe across several Forex pairs. It utilizes three strategies based on overbought and oversold market conditions to execute trades. Risk management features include a fixed hard stop loss, a virtual take profit and stop loss derived from an
Trading robot · MT4
SR Expert
SR Expert is a MetaTrader 4 robot that executes trades based on price reversals at support and resistance levels.
GitHub stars11
Forks2
Last update6 years ago25 Jul 2020
LicenceNone stated
Overview
SR Expert determines key levels by analyzing daily high and low price data to calculate dynamic trading intervals. The expert advisor features automated position sizing calculated as a percentage of the account balance and incorporates a fixed risk-to-reward ratio for trade exits. It is designed to handle both forex and stock markets by adjusting lot calculations based on tick size. The system includes built-in stop loss and take profit protection, though the documentation is minimal.
- Daily support and resistance calculation
- Automated risk-based position sizing
- Fixed risk-to-reward ratio management
- Forex and equity market compatibility
Details
Author
OwaisQuadri on GitHub
Type
Trading robot
Platform
MetaTrader 4 (MQL4)
Strategy
Mean reversion
Markets
Forex
Timeframes
M15-H1, H4 and above
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
trading-bottradingstocksexpert-advisorsmql4
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone OwaisQuadri/SR-Expert 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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