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Eagle EA MT4 is an expert advisor for MetaTrader 4 that follows trends on EURUSD using the H4 timeframe. It sizes each trade by a percentage of risk and uses an emergency stop loss with an indicator-based exit.
Get one message the moment it launches, with its price.
Eagle EA MT4 is an automated trading system for MetaTrader 4 that follows the prevailing trend on EURUSD using the H4 chart. It places trades by itself, sizes them from a risk percentage and closes them with an indicator-based exit.
The EA is built around a trend-following idea: it looks for price moving in a sustained direction and joins that move instead of trying to pick tops and bottoms. It works on a slower timeframe, so signals are less frequent than on short charts and are less affected by minute-to-minute noise.
Each position carries an emergency stop loss as a safety limit. There is no fixed take profit level. Instead, the exit is decided by an indicator, so the length of a trade depends on how long the trend condition holds. The author states that the EA does not use martingale position sizing. Even so, you should watch how it behaves on a demo account before trusting it with real money.
Because the logic was designed for this pair and chart period, changing either one means moving away from the conditions it was built for. Test any change on a demo account first.
The input list is short. Confirm the exact defaults after loading the EA, since this page does not list numeric values.
| Input | Purpose |
|---|---|
| Risk per trade | Share of the account risked on each trade, which drives lot size |
| Magic number | Identifier that separates this EA's orders from others |
| Currency pair | Symbol to trade, EURUSD by default |
| Timeframe | Chart period used by the logic, H4 by default |
The author suggests a moderate-to-high risk setting for the published tests, but that is not a rule for everyone. A lower percentage means smaller swings in your balance. Look at the drawdown you could tolerate and work backwards from there.
Trading carries risk and you can lose part or all of your capital. Past results, including any backtest, do not predict future ones. Backtests depend on data quality, spread and execution assumptions that may differ from your broker.
Also check the spread and slippage your broker applies on EURUSD, as these affect an H4 system less than a short-term one but still matter.
For continuous operation, many users run MT4 on a VPS so the platform stays connected. Keep the terminal updated and review the EA's activity in the Experts and Journal tabs.
| Product type | Expert Advisor |
|---|---|
| Platform | MetaTrader 4 |
| Strategy focus | Trend, Grid |
| Delivery | Download from your account after purchase |
| License key | Not needed |
| Status | Launching soon |
| Category | Expert advisor (automated trading) |
| Strategy | Trend following |
| Default market | EURUSD |
| Default timeframe | H4 |
| Stop loss | Emergency stop loss; check the exact distance in the inputs |
| Take profit | Indicator-based exit, no fixed target |
| Requirements | Algo trading enabled, stable connection or VPS |
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No. This listing is the MetaTrader 4 build and only runs on MT4. MT5 uses a different program format, so you would need a version made for MT5.
The EA is designed for EURUSD on the H4 chart. Those are the defaults in its inputs. Other symbols and timeframes are not what it was built for, so test them on a demo account before using them live.
Copy the EA file into the MQL4/Experts folder through File > Open Data Folder in MT4, restart the terminal or refresh the Navigator, then drag it onto an EURUSD H4 chart. Make sure Algo Trading is switched on and automated trading is allowed in the EA properties.
The risk per trade input controls position size as a percentage of the account. A higher value increases both possible gains and possible losses. Choose a figure that suits your own tolerance, start with a demo or small account, and check the default value in the inputs.
It should run on a standard MT4 account, but spreads, execution speed and symbol naming differ between brokers. If your broker adds a suffix to EURUSD, make sure the symbol input matches it. Check the minimum deposit and lot rules with your broker.
If you attach it to more than one chart or account, give each instance a different magic number so the EA can tell its own trades apart from others.
Eagle EA MT4
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