This risk management tool for MetaTrader 4 and 5 calculates optimal lot sizes based on user-defined risk parameters, account balance, and currency. It provides a graphical user interface for setting entry, stop loss, and take profit levels visually on the chart. The expert advisor accounts for commissions, swaps, and m
Utility · MT4
Volume Indicator Alert
This MetaTrader 4 expert advisor monitors tick volume patterns to identify periods of increasing market activity.
GitHub stars1
Forks0
Last update5 years ago2 Feb 2021
LicenceNone stated
Overview
Volume Indicator Alert analyzes the volume of the four most recent candles, triggering signals when volume increases consecutively over four bars. Upon detection, the EA generates a terminal alert, displays a message box, and places a horizontal line on the chart at the recent high price. The provided code lacks automated trade execution logic, serving instead as a technical analysis tool for manual traders. The repository contains no documentation and minimal configuration options.
- Four-bar volume trend analysis
- Visual horizontal line signaling
- MT4 terminal alerts
- Automated message box notifications
Details
Author
aalrehn on GitHub
Type
Utility
Platform
MetaTrader 4 (MQL4)
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
Source
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone aalrehn/MQL4 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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