XMT-Scalper and EA Collection: Free MT4 Expert Advisor

Overview

XMT-Scalper is an automated scalping strategy designed to trade based on volatility breakouts using indicators like Bollinger Bands and Moving Averages. It includes risk controls such as stop loss, take profit, and trailing stops. The system filters trades based on spread and execution speed to ensure stability. Other files in the collection include variations of commercial EAs, although the README provides little documentation for these additional scripts.

Dynamic volatility-based breakout logic

Spread and execution speed filters

Automated money management via risk percentage

Trailing stop and break-even functionality

Support for multiple technical indicators

Details

Input parameters

Read from XMT-Scalper_v2.461.mq4. Defaults are the author's; change them in the EA's Inputs tab.

Name	Type	Default	Description
`Configuration`	`string`	`==== Configuration ====`
`ReverseTrade`	`bool`	`FALSE`	If TRUE, then trade in opposite direction
`Magic`	`int`	`-1`	If set to a number less than 0 it will calculate MagicNumber automatically
`OrderCmt`	`string`	`XMT-Scalper 2.46`	Trade comments that appears in the Trade and Account History tab
`ECN_Mode`	`bool`	`FALSE`	True for brokers that don't accept SL and TP to be sent at the same time as the order
`Debug`	`bool`	`FALSE`	Print huge log files with info, only for debugging purposes
`Verbose`	`bool`	`FALSE`	Additional information printed in the chart
`TradingSettings`	`string`	`==== Trade settings ====`
`MaxSpread`	`double`	`30.0`	Max allowed spread in points (1 / 10 pip)
`MaxExecution`	`int`	`0`	Max allowed average execution time in ms (0 means no restrictions)
`MaxExecutionMinutes`	`int`	`5`	How often in minutes should fake orders be sent to measure execution speed
`StopLoss`	`double`	`60`	StopLoss from as many points. Default 60 (= 6 pips)

Show all 40 inputs

Name	Type	Default	Description
`TakeProfit`	`double`	`100`	TakeProfit from as many points. Default 100 (= 10 pip)
`AddPriceGap`	`double`	`0`	Additional price gap in points added to SL and TP in order to avoid Error 130
`TrailingStart`	`double`	`20`	Start trailing profit from as so many points.
`Commission`	`double`	`0`	Some broker accounts charge commission in USD per 1.0 lot. Commission in dollar
`Slippage`	`int`	`3`	Maximum allowed Slippage in points
`MinimumUseStopLevel`	`double`	`0`	Minimum stop level. Stoplevel to use will be max value of either this value or broker stoplevel
`VolatilitySettings`	`string`	`==== Volatility Settings ====`
`UseDynamicVolatilityLimit`	`bool`	`TRUE`	Calculate VolatilityLimit based on INT (spread * VolatilityMultiplier)
`VolatilityMultiplier`	`double`	`125`	Dynamic value, only used if UseDynamicVolatilityLimit is set to TRUE
`VolatilityLimit`	`double`	`180`	Fix value, only used if UseDynamicVolatilityLimit is set to FALSE
`UseVolatilityPercentage`	`bool`	`TRUE`	If true, then price must break out more than a specific percentage
`VolatilityPercentageLimit`	`double`	`0`	Percentage of how much iHigh-iLow difference must differ from VolatilityLimit. 0 is risky, 60 means a safe value
`UseIndicatorSet`	`string`	`=== Indicators: 1 = Moving Average, 2 = BollingerBand, 3 = E`
`UseIndicatorSwitch`	`int`	`1`	Switch User indicators.
`Indicatorperiod`	`int`	`3`	Period in bars for indicators
`BBDeviation`	`double`	`2.0`	Deviation for the iBands indicator
`EnvelopesDeviation`	`double`	`0.07`	Deviation for the iEnvelopes indicator
`OrderExpireSeconds`	`int`	`3600`	Orders are deleted after so many seconds
`Money_Management`	`string`	`==== Money Management ====`
`MoneyManagement`	`bool`	`TRUE`	If TRUE then calculate lotsize automaticallay based on Risk, if False then use ManualLotsize below
`MinLots`	`double`	`0.01`	Minimum lot-size to trade with
`MaxLots`	`double`	`100.0`	Maximum allowed lot-size to trade with
`Risk`	`double`	`2.0`	Risk setting in percentage, For 10.000 in Equity 10% Risk and 60 StopLoss lotsize = 16.66
`ManualLotsize`	`double`	`0.1`	Manual lotsize to trade with if MoneyManagement above is set to FALSE
`MinMarginLevel`	`double`	`100`	Lowest allowed Margin level for new positions to be opened.
`Screen_Shooter`	`string`	`==== Screen Shooter ====`
`TakeShots`	`bool`	`FALSE`	Save screen shots on STOP orders?
`DelayTicks`	`int`	`1`	Delay so many ticks after new bar

How to install it

1Download the sourceUse "Download source (.zip)" above, or clone mkozse/Expert-Advisors 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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XMT-Scalper and EA Collection

Overview

Details

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Strategy

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EA files

Source