This expert advisor for MetaTrader 4 focuses on gold trading using daily price extremes and moving averages. It calculates the 7-day Simple Moving Average and identifies the highest price points from the previous five trading days to determine market direction. The EA executes its logic on a five-second timer interval
Trading robot · MT4
Trading Forex Bot
This MetaTrader 4 expert advisor executes trades based on a price-action strategy involving dynamic horizontal bands.
GitHub stars1
Forks0
Last update3 years ago16 Sep 2023
LicenceNone stated
Overview
The bot identifies entries by tracking price interactions with median levels and subsequent breakouts of upper or lower band boundaries, filtered by RSI indicator readings. It features automated risk management through fixed take profit targets and dynamic trailing stop losses. Trading is restricted to specific weekday hours, and the system includes logic to prevent opening multiple overlapping positions while ensuring existing trades are managed before period shutdowns.
- Dynamic horizontal price bands
- RSI indicator entry filter
- Automated dynamic trailing stop
- Hourly and weekday time filtering
Details
Author
LegionAtol on GitHub
Type
Trading robot
Platform
MetaTrader 4 (MQL4)
Strategy
Breakout
Markets
Forex
Timeframes
M15-H1
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 LegionAtol/Trading-Forex-Bot 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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