Simplified “EuroSurge” Expert Advisor (EA) for MetaTrader 4 (MT4) – EA MetaTrader 4

This code represents a simplified version of “EuroSurge” Expert Advisor (EA) for MetaTrader 4 (MT4). It implements multiple technical indicators for trade signal generation, provides configurable lot sizing, and manages trades based on specific conditions.

The Default settings work for EURUSD 5min

Settings based off optimizations since 2020

Input Parameters

1. Trade Size Calculation:

   • The EA allows for three types of trade size calculations:
     • Fixed lot size.
     • Balance percentage (percentage of account balance used to calculate lot size).
     • Equity percentage (percentage of account equity used to calculate lot size).
   • Inputs like FixedLotSize , TradeSizePercent , and MagicNumber configure the lot size and uniquely identify trades.

2. Indicator Settings:

   • The EA uses a variety of indicators for generating buy and sell signals:
     • Moving Average (MA) with configurable period.
     • Relative Strength Index (RSI) with configurable overbought/oversold levels.
     • MACD with adjustable EMA and signal line settings.
     • Bollinger Bands with adjustable periods and deviation settings.
     • Stochastic Oscillator with configurable %K, %D, and slowing parameters.
   • Each indicator can be toggled on or off using input parameters like UseMA , UseRSI , etc.

Signal Detection

• IsBuySignal(): This function checks if all buy conditions are met based on the chosen indicators. For example:

  • MA Condition: Checks if the shorter-term MA is above the longer-term MA.
  • RSI Condition: Looks for the RSI being below 50 (relaxed from the oversold level of 30).
  • MACD Condition: Compares the MACD line and signal line.
  • Bollinger Bands Condition: Checks if the price is below the lower band.
  • Stochastic Condition: Looks for %K and %D values below 50 (relaxed from 20).

• IsSellSignal(): Similar to IsBuySignal() , but reversed for selling conditions, such as checking for:

  • MA Short < MA Long,
  • RSI > 50 (relaxed from overbought at 70),
  • MACD line < signal line,
  • Price above the upper Bollinger band, etc.

Trade Execution

• When the buy or sell conditions are met, the EA places a trade with calculated stop loss (SL) and take profit (TP) based on multipliers ( SL_Multiplier , TP_Multiplier ).
• The lot size is calculated using the CalculateLotSize() function, which adjusts based on the selected TradeSizeType .
• Orders are executed using the OrderSend() function, with error handling to check for issues in placing trades.