Late Day Extreme Fade
A late-day fade is a specific, time-scoped premise: a move that has run hard through the session, with no fresh news driving it in the final stretch, disproportionately reverts back toward the day's opening level into the close, on thinning volume and profit-taking rather than fresh conviction. That premise says nothing about price action in the middle of the session, and applying a reversion filter all day turns it into an ordinary (and much weaker) mean-reversion system wearing a late-day label. This system does nothing outside its window. It only looks for a trade inside InpLateWindowMinutes minutes before InpSessionCloseHour:00 server time, and only when today's price has already stretched at least InpStretchAtrMultiple ATRs away from today's opening price - a late session with no unusual stretch produces no signal at all. A qualifying stretch fades back toward the open, with a stop placed beyond today's own high or low (plus a small ATR buffer) rather than an arbitrary fixed distance, since today's actual extreme is the honest level a fade needs to survive past. Every open position is force-flattened inside a small window around the defined close, once per session, regardless of profit or loss - the edge is scoped entirely to "before this specific close", and holding a position into whatever the next session brings is a different bet this system does not make. Notes and limitations - InpSessionCloseHour is in the trading SERVER's time, not the trader's local time or any particular exchange's official close - check the broker's server time offset before setting it. - If InpForceFlatMinutes is reached but the close attempt fails (e.g. trade context busy, temporary broker error), the position is retried on the next tick, not abandoned - but it can still carry briefly past the intended flat time under a genuinely uncooperative broker. - Only one position is held at a time; the system does not fade twice in the same session. - Requires AutoTrading enabled to open or close anything.
Expert advisor · MT4 · v1.0 · Free
About Late Day Extreme Fade
Late Day Extreme Fade is an expert advisor (trading robot) for MetaTrader 4 based on ATR. It can size trades from your balance and risk percent. It has 13 settings, such as Session close hour, Late window minutes and Force flat minutes. MQL source code included.
Files in the download: LateDayExtremeFade.ex4, LateDayExtremeFade.mq4, LateDayExtremeFade.txt.
Trading robots can lose money. Check every setting and test on a demo account before using real funds.
Settings
| Setting | Default | What it does |
|---|---|---|
| Session close hour | 22 | Server-time hour (0-23) treated as the session close |
| Late window minutes | 60 | Entries only allowed this many minutes before the close |
| Force flat minutes | 5 | Force-close any open position within this many minutes of the close |
| Stretch atr multiple | 2.5 | Minimum |distance from today's open| in ATRs required to fade |
| Atr period | 14 | ATR period used for the stretch measure and the stop buffer |
| Stop buffer atr | 0.5 | Stop placed this many ATRs beyond today's extreme, past the entry |
| Use risk sizing | false | Size by percent risk instead of a fixed lot |
| Risk percent | 1.0 | Percent of equity risked per trade, when risk sizing is on |
| Fixed lots | 0.10 | Lot size when risk sizing is off, or as a fallback |
| Magic number | 20260615 | Magic number for orders opened by this EA |
| Slippage pips | 3 | Slippage tolerance, in pips |
| Max retries | 5 | Attempts per trade action before giving up |
| Retry wait ms | 500 | Pause between attempts, milliseconds |
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: Price Action · Volume · Trading Sessions · News Trading · Risk & Lot Size · ATR · MT4 Expert Advisor · MQL4 Source Code