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
Wealth Protector
Wealth Protector is a MetaTrader 4 expert advisor designed for automated trading using technical indicators.
GitHub stars3
Forks0
Last update6 years ago22 Jan 2020
LicenceNone stated
Overview
Wealth Protector combines price envelopes and ZigZag parameters to determine market entries and exits. While described by the author as a scalping tool, it is specifically configured for use on the daily timeframe. The system manages risk by applying fixed stop loss and take profit levels to every position. It allows users to define lot sizes and slippage tolerances. The repository is minimal with no provided README documentation, and the code relies on a custom envelopes indicator.
- Technical analysis using price envelopes
- ZigZag indicator parameter support
- Fixed risk controls for trades
- Customizable lot sizing and slippage
Details
Author
edwardlorilla on GitHub
Type
Trading robot
Platform
MetaTrader 4 (MQL4)
Strategy
Scalping, Mean reversion
Markets
Any symbol
Timeframes
M1-M5, H4 and above
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 WealthProtector.mq4. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
tt | string | Торговые настройки | |
Lot | double | 0.01 | |
TakeProfit | int | 300 | |
StopLoss | int | 300 | |
Slippage | int | 30 | |
en | string | Настройка Envelopes | |
period | int | 14 | |
deviation | double | 0.10 | |
zz | string | Настройка ZZ | |
Depth | int | 12 | |
Deviation | int | 5 | |
BackStep | int | 3 |
Show all 13 inputs
| Name | Type | Default | Description |
|---|---|---|---|
Magic | int | 254521 |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone edwardlorilla/EA 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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