TimeBit: Free MT5 Expert Advisor

Overview

Operating primarily on the M1 and M5 timeframes, the robot calculates entry points based on specific price ranges and Fibonacci levels such as 23.6 and 38.2. The system employs an aggressive martingale-style lot scaling approach through a hardcoded sequence of increasing trade volumes. Risk controls include a percentage-based balance stop loss and fixed stop loss points. The repository lacks documentation, but the code reveals a pattern-based grid strategy with volume multiplication.

Multi-timeframe ZigZag pattern detection

Fibonacci level take profit targets

Predefined martingale lot scaling sequence

Percentage-based balance protection

Details

Author

minhtranlife on GitHub

Type

Trading robot

Platform

MetaTrader 5 (MQL5)

Strategy

Martingale, Mean reversion, Grid

Markets

Any symbol

Timeframes

M1-M5, M15-H1

Risk profile

Uses martingale lot scaling: losses can grow fast
Opens a grid of orders: exposure builds up in a trend

EA files

Source

github.com/minhtranlife/TimeBit

Input parameters

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

Name	Type	Default	Description
`InpBalanceStopLoss`	`int`	`25`	Balance stop (in percent)
`InpVolumeString`	`string`	`0.01,0.02,0.04,0.08,0.16,0.32,0.64,1.28,2.56,5.12`	Volume
`InpM5RangeCD`	`ushort`	`70`	M5 Range CD (in pips)
`InpTPF236Distance`	`double`	`10`	Distance from fibo to open price (pips)
`InpStopLoss`	`ushort`	`20`	Stop Loss last position (in pips)
`InpLastPriceDistance`	`double`	`10`	Distance from new open price to last open price (int pips)
`Inp2ndReverseCheck`	`bool`	`1`	Next check reverse
`InpTPModeCheck`	`ENUM_TP_MODE`	`0`	Optimize TP
`InpTPDistance`	`int`	`3`	TP point plus
`InpM5ZigZagDepth`	`int`	`5`	M5 ZigZag Depth
`InpM5ZigZagDeviation`	`int`	`5`	M5 ZigZag Deviation
`InpM5ZigZagBackStep`	`int`	`3`	M5 ZigZag Backstep

Show all 36 inputs

Name	Type	Default	Description
`InpM5ZigZagABCDColor`	`color`	`clrYellow`	M5 ZigZag ABCD Color
`InpM5ZigZagABCDWidth`	`int`	`5`	M5 ZigZag Width
`InpM5ZigZagDisplay`	`bool`	`0`	Display M5 ZigZag
`InpM1ZigZagDepth`	`int`	`5`	M1 ZigZag Depth
`InpM1ZigZagDeviation`	`int`	`5`	M1 ZigZag Deviation
`InpM1ZigZagBackStep`	`int`	`3`	M1 ZigZag Backstep
`InpM1ZigZagCDColor`	`color`	`clrAliceBlue`	M1 ZigZag CD Color
`InpM1ZigZagCDWidth`	`int`	`3`	M1 ZigZag CD Width
`InpM1ZigZagDisplay`	`bool`	`0`	Display M1 ZigZag
`InpM5FiboABPercentSmall`	`double`	`10.0`	M5 Fibo AB (Small)
`InpM5FiboABPercentBig`	`double`	`80.0`	M5 Fibo AB (Big)
`InpM5FiboABColor`	`color`	`clrAqua`	M5 Fibo AB Color
`InpM5FiboABDisplay`	`bool`	`0`	Display M5 Fibo AB
`InpM5FiboCDPercentSmall`	`double`	`10.0`	M5 Fibo CD (Small)
`InpM5FiboCDPercentBig`	`double`	`80.0`	M5 Fibo CD (Big)
`InpM5FiboCDColor`	`color`	`clrMediumAquamarine`	M5 Fibo CD Color
`InpM5FiboCDDisplay`	`bool`	`0`	Display M5 Fibo CD
`InpTPLevelChange`	`int`	`4`	TP Level Change
`InpTPFiboLevel1`	`double`	`23.6`	TP Fibo Level 1
`InpTPFiboLevel2`	`double`	`38.2`	TP Fibo Level 2
`InpTPColor`	`color`	`clrMagenta`	TP Fibo Color
`InpTPDisplay`	`bool`	`0`	Display TP Fibo
`m_slippage`	`ulong`	`10`	Slippage (in points)
`m_magic`	`ulong`	`88888888`	Magic number

How to install it

1Download the sourceUse "Download source (.zip)" above, or clone minhtranlife/TimeBit 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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