Support Resistance EA: Free MT4 Expert Advisor

Overview

Support Resistance EA includes multiple order management features such as a trailing break-even stop and a four-stage partial profit-taking system. Risk management is handled through fixed stop losses, take profits, and daily percentage-based equity targets or drawdown limits. Users can enable a martingale multiplier system for position scaling after losses. The robot also supports time-restricted trading and a reverse trend mode. The strategy is designed for flexible deployment across various currency pairs.

RSI and Moving Average signal logic

Four-stage partial close functionality

Daily profit and drawdown limits

Optional martingale lot scaling

Custom trading session timer

Details

Author

jblanked on GitHub

Type

Trading robot

Platform

MetaTrader 4 (MQL4)

Strategy

Trend following, Mean reversion, Martingale

Markets

Forex

Timeframes

M15-H1, H4 and above

Risk profile

Uses martingale lot scaling: losses can grow fast

EA files

Support and Resistance EA.mq4

Source

github.com/jblanked/Support-Resistance-EA

Input parameters

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

Name	Type	Default	Description
`orderSeng`	`string`	`======= ORDER SETTINGS ======`
`StopLoss`	`double`	`10`	Stop Loss
`TakeProfit`	`double`	`600`	Take Profit
`usepercentrisk`	`bool`	`true`	Use risk per trade?
`percentrisk`	`double`	`0.10`	Percent risk
`uselotsize`	`bool`	`false`	Use lot size?
`lotsizee`	`double`	`0.10`	Lot size
`orderSeting`	`string`	`======= TREND SETTINGS ======`
`MA_Period`	`int`	`160`	Period for moving average
`RSI_Period`	`int`	`8`	Period for RSI
`rsibuylevel`	`int`	`20`	RSI under which level to buy
`rsiselllevel`	`int`	`80`	RSI above which level to sell

Show all 36 inputs

Name	Type	Default	Description
`reverseorder`	`bool`	`false`	Reverse trend?
`HODL`	`bool`	`false`	HODL til opposite setup?
`BreakEvenSettings`	`string`	`--------TAKE PARTIAL SETTINGS-------`
`UseBreakEvenStop`	`bool`	`true`	Use take partials?
`BEclosePercent`	`double`	`50.0`	Close how much percent?
`breakstart`	`double`	`200`	Take partials after how many pips in profit (1)
`breakstart2`	`double`	`300`	Take partials after how many pips in profit (2)
`breakstart3`	`double`	`400`	Take partials after how many pips in profit (3)
`breakstart4`	`double`	`500`	Take partials after how many pips in profit (4)
`breakstop`	`double`	`20`	Move stop loss in profit X pips
`BkEvnSettings`	`string`	`======= MARTINGALE SETTINGS =======`
`useMartingale`	`bool`	`false`	Use martingale?
`martinPips`	`double`	`78`	Pips in between martingales
`martinMULTI`	`double`	`5`	Martingale multiplier
`timeSettings`	`string`	`======= TIME SETTINGS ======`
`UseTimer`	`bool`	`false`	Custom trading hours (true/false)
`StartTime1`	`string`	`16:30`	1 Trading start time (hh:mm)
`StopTime1`	`string`	`16:31`	1 Trading stop time (hh:mm)
`DAILY_TARGETS`	`string`	`======= Gain/Loss =======`
`dailyTargetP`	`double`	`10.0`	Daily Profit Target (%)
`dailyLossP`	`double`	`0.4`	Daily Max DD (%)
`orderSettins`	`string`	`======= OTHER SETTINGS ======`
`orderComments`	`string`	`Support/Resistance EA`	Order Comment
`magicnumb`	`int`	`918119`	Magic Number

How to install it

1Download the sourceUse "Download source (.zip)" above, or clone jblanked/Support-Resistance-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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