Double MA Break Out EA
Double MA Break Out EA is an expert advisor (trading robot) for MetaTrader 4 from the Old Kings collection. Judging by its name, it is built around moving averages and breakouts from a range. It places pending orders, moves the stop behind price and has a trading-hours filter. It has 28 settings, for example Account Is Mini (default false), Money Management (default false) and Trade Size Percent (default 5). Watch it on a demo account for a while — robots can behave differently with each broker. Inside: 1 EA file with source code (.mq4) you can open and edit in MetaEditor. Old Kings are classic community tools shared as-is. Not tested by PolyMaria. Try it on a demo account first. Are you the author of this tool? Message us on Telegram (@abumarket_support) and we will credit you or take it down.
Expert advisor · MT4 · v1.0 · Free
About Double MA Break Out EA
Double MA Break Out EA is an expert advisor (trading robot) for MetaTrader 4. It places pending buy/sell stop or limit orders, moves the stop loss behind price (trailing stop / break-even) and trades only in the hours you set (time filter). It has 28 settings, such as Account is mini, Money management and Trade size percent. MQL source code included.
It also can size trades from your balance and risk percent, trades breakouts and works on several symbols at once.
Files in the download: DoubleMA_BreakOut_EA.mq4.
Trading robots can lose money. Check every setting and test on a demo account before using real funds.
Settings
| Setting | Default | What it does |
|---|---|---|
| Account is mini | false | Change to true if trading mini account |
| Money management | false | Change to false to shutdown money management controls. |
| Trade size percent | 5 | Change to whatever percent of equity you wish to risk. |
| Lots | 3 | standard lot size. |
| Max lots | 100 | |
| Fast ma mode | 0 | 0=sma, 1=ema, 2=smma, 3=lwma, 4=LSMA |
| Fast ma period | 2 | Period or timeframe used by the calculation |
| Fast ma shift | 0 | Bar shift (0 = current bar) |
| Fast ma applied price | 0 | 0=close, 1=open, 2=high, 3=low, 4=median((h+l/2)), 5=typical((h+l+c)/3), 6=weighted((h+l+c+c)/4) |
| Slow ma mode | 0 | 0=sma, 1=ema, 2=smma, 3=lwma, 4=LSMA |
| Slow ma period | 5 | Period or timeframe used by the calculation |
| Slow ma shift | 0 | Bar shift (0 = current bar) |
| Slow ma applied price | 0 | 0=close, 1=open, 2=high, 3=low, 4=median((h+l/2)), 5=typical((h+l+c)/3), 6=weighted((h+l+c+c)/4) |
| Break out level | 45 | Start trade after breakout is reached |
| Signal candle | 1 | |
| Stop loss | 250 | Maximum pips willing to lose per position. |
| Use trailing stop | false | Trailing stop distance or switch |
| Trailing stop type | 3 | Type 1 moves stop immediately, Type 2 waits til value of TS is reached |
| Trailing stop | 40 | Change to whatever number of pips you wish to trail your position with. |
| Tr stop level 1 | 20 | Type 3 first level pip gain |
| Trailing stop1 | 20 | Move Stop to Breakeven |
| Tr stop level 2 | 30 | Type 3 second level pip gain |
| Trailing stop2 | 20 | Move stop to lock is profit |
| Tr stop level 3 | 50 | type 3 third level pip gain |
| Trailing stop3 | 20 | Move stop and trail from there |
| Take profit | 0 | Maximum profit level achieved. |
| Margincutoff | 800 | Expert will stop trading if equity level decreases to that level. |
| Slippage | 10 | Possible fix for not getting closed |
How to install
- Download the ZIP from your PolyMaria library and unzip it.
- In MetaTrader 4 open File → Open Data Folder, then go to MQL4 → Experts.
- Copy the .mq4 file(s) there. Put any .mqh files in MQL4 → Include.
- Open the .mq4 file in MetaEditor and press Compile (F7) if MetaTrader does not show it.
- Drag the expert advisor from the Navigator onto a chart, check the settings, allow Algo/Auto Trading and press OK.
- Test it first on a demo account or in the Strategy Tester.
Tags: Breakout · Moving Average · Pending Orders · Trailing Stop & Break-even · Time Filter · Risk & Lot Size · Multi-Currency · MT4 Expert Advisor · MQL4 Source Code