Icarus is an automated trading system for MetaTrader 4 that employs a grid strategy with Martingale lot scaling. It utilizes Bollinger Bands and the Stochastic Oscillator to identify entry points, offering a conjunctive mode for filtered execution. The EA manages risk through maximum position limits, equity warning thr
Trading robot · MT4
Zone Hedging EA
This MetaTrader 4 expert advisor implements a zone-based hedging strategy using predefined price levels.
High risk
GitHub stars1
Forks0
Last update5 years ago24 Nov 2020
LicenceNone stated
Overview
The robot monitors specific price thresholds—defined as ceiling, middle, and floor—to manage order entries. It utilizes a timer-driven event system to evaluate trade conditions and manage positions. Risk control is limited to a fixed take profit target and static lot sizing for all trades. The repository lacks a README, and the provided code focus suggests it maintains positions within specific ranges without an automated stop loss mechanism.
- Zone-based price level management
- Timer-driven order execution
- Fixed take profit targets
- Configurable lot sizing per zone
- Position management across price ranges
Details
Author
sompol13 on GitHub
Type
Trading robot
Platform
MetaTrader 4 (MQL4)
Strategy
Hedging, Grid
Markets
Forex
Timeframes
Any timeframe
Risk profile
- Opens a grid of orders: exposure builds up in a trend
- Holds opposite positions at once
- Trades without a fixed stop loss
EA files
Input parameters
Read from Zone Hedging.mq4. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
frequencyOfTimer | int | 5 | Determine the frequency of timer event occurrence (seconds). |
takeProfitInteger | int | 450 | The take profit points target for each zone (points). |
defaultLotSize | double | 0.01 | The default price or lot size for each orders (double). |
ceilingPrice | double | 0.78052 | The ceiling price of the zone to be play (significance). |
middlePrice | double | 0.72273 | The middle price of the zone to be play (significance). |
floorPrice | double | 0.64290 | The floor price of the zone to be play (significance). |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone sompol13/forex-hedging-expert-advisor 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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