This utility for MetaTrader 4 and 5 automates trade execution based on trader-defined chart patterns. Users draw trendlines, horizontal lines, or channels, which the expert advisor monitors to place pending breakout orders. It handles trade entries, stop losses, and take profits according to specific object naming conv
Utility · MT4
Tao Stock Simple Arrow
Tao Stock Simple Arrow is a MetaTrader 4 expert advisor that serves as a visual signal generator for price breakouts.
GitHub stars1
Forks0
Last update7 years ago25 Aug 2019
LicenceNone stated
Overview
The program identifies the highest and lowest price levels within the most recent 100 candles. If the current price breaks these established boundaries, it places buy or sell arrow objects directly on the chart to notify the user. The EA does not include automated trade execution, lot sizing, or risk controls like stop losses. The README is minimal, and the code focuses solely on visual monitoring and chart annotation.
- Breakout arrow signal generation
- Rolling 100-candle price tracking
- Real-time price data comments
- Chart object automation
Details
Author
roxylu on GitHub
Type
Utility
Platform
MetaTrader 4 (MQL4)
Strategy
Breakout
Markets
Any symbol
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
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone roxylu/TaoStock 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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