by 
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
Syacho
This MetaTrader 4 expert advisor implements a technical trading strategy using Bollinger Bands and the Parabolic SAR indicator.
GitHub stars1
Forks0
Last update9 years ago19 Jul 2017
LicenceNone stated
Overview
Syacho operates on the M5 timeframe to identify price extremes via Bollinger Bands while utilizing M1 Parabolic SAR for trend confirmation. The robot includes hardcoded logic for specific currency pairs including EURUSD, USDJPY, and EURJPY, applying unique stop loss values for each. It features a fixed lot sizing model and a time-based exit filter to close trades after a specific duration. The repository contains no documentation, requiring users to rely on the source code.
- M5 Bollinger Band entry logic
- M1 Parabolic SAR trend filter
- Symbol-specific stop loss values
- Time-based trade expiration mechanism
Details
Author
KotaroHashimoto on GitHub
Type
Trading robot
Platform
MetaTrader 4 (MQL4)
Strategy
Mean reversion
Markets
Forex
Timeframes
M1-M5
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
Input parameters
Read from Syacho.mq4. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
StopLoss_TimeOut | int | 7 | |
StopLossUSD | int | 12 | |
StopLossEUR | int | 15 | |
Entry_Lot | double | 0.1 | |
Band_Sigma | double | 3.0 | |
Magic_Number | int | 1 |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone KotaroHashimoto/Syacho 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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