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Forex Miner EA is an MT4 expert advisor that opens trades in the direction of the current trend, using several trend indicators and a step-based averaging routine. It runs unattended on a chart once attached.
Get one message the moment it launches, with its price.
Forex Miner EA is an automated expert advisor for MetaTrader 4. It looks for the direction of the current trend using a combination of trend indicators, opens positions in that direction, and manages them without manual input.
The robot reads trend conditions on the chart it is attached to and enters trades that agree with the dominant direction. If price moves against an open position, the EA can add further orders at a fixed distance, with each new order sized by a multiplier. The group of orders is then closed using take profit, a trailing stop or a lock-in level. This kind of averaging can recover from pullbacks, but it also means exposure grows when a trend fails to resume, so position sizing deserves close attention.
The author says the EA can be attached to many currency pairs and commodities, but optimisation was focused on EURUSD, GBPUSD, USDJPY and GBPJPY. The reference setup is EURUSD on a short timeframe such as M1 or M5. A low-spread ECN-type account is generally a better fit than a wide-spread account, because short-term entries are sensitive to spread and slippage.
The inputs below are the defaults reported by the author. Distances are in points as shown in the inputs tab. Confirm every value in your own copy, as defaults may differ between builds.
| Input | Reported default | Purpose |
|---|---|---|
| Lots | 0.01 | Starting lot size |
| Lot_Exponent | 1.3 | Multiplier for each added order |
| Take profit | 100 | Take profit distance |
| Stop_Loss | 0 | Fixed stop loss; zero means none |
| Pips_Step | 50 | Distance between averaging orders |
| Max_Trades | 20 | Maximum open orders |
| Lock profit | 50 | Level at which profit is locked in |
| Trailing_Stop | 50 | Trailing stop distance |
| Hedge | false | Turns hedge function on or off |
| Overlap_Orders / Overlap_Pips | 3 / 10 | Drawdown-reduction function |
| EQUITY_TAKEPROFIT / EQUITY_STOPLOSS | -1 / -1 | Equity exit levels; -1 uses balance |
| RE_START | true | Restart after an equity exit |
Each EA instance also has a magic number and an order comment. Use a different magic number on every chart so the instances do not interfere with each other.
A lot multiplier of 1.3 with up to twenty open orders and no fixed stop can build a large exposure in a prolonged one-way move. Lower the maximum trades, reduce the starting lot, or set equity limits if that does not fit your account. Run the EA on a demo account and in the Strategy Tester first, using data of good quality.
Trading carries risk, and you can lose some or all of your deposit. Past results, including backtests and any figures shown elsewhere, do not predict future ones. Only trade with money you can afford to lose.
For continuous operation, a VPS with a stable connection is often used, since the EA must stay connected to manage open orders.
| Product type | Expert Advisor |
|---|---|
| Platform | MetaTrader 4 (expert advisor, compiled .ex4) |
| Strategy focus | General |
| Delivery | Download from your account after purchase |
| License key | Not needed |
| Status | Launching soon |
| Category | Expert advisor, automated trading |
| Trade style | Trend following with step-based averaging of positions |
| Suggested markets | EURUSD, GBPUSD, USDJPY, GBPJPY; other symbols can be tested |
| Suggested timeframes | Short timeframes such as M1 and M5 on EURUSD |
| Account type | Low-spread ECN-style account is generally preferred |
| Starting lot (default) | 0.01 lot; check the inputs tab for your build |
| Requirements | MT4 terminal, algo trading enabled, stable connection or VPS |
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No. This is an MT4 expert advisor. It will not load in MetaTrader 5, so check that your broker offers an MT4 account before buying.
Open MT4, choose File, then Open Data Folder, go to MQL4 and then Experts, and copy the expert file there. Restart the terminal or refresh the Navigator, drag the EA onto a chart, and make sure Algo Trading is switched on and automated trading is allowed in the EA properties.
The author points to EURUSD, GBPUSD, USDJPY and GBPJPY, with EURUSD on M1 or M5 as the reference setup. Other symbols can be attached, but you should test them yourself first on a demo account.
The default stop loss input is reported as zero, which means no fixed stop is placed. Exits rely on take profit, trailing, overlap logic and the optional equity levels. Review these inputs and set limits that match your account size before trading live.
The store has no confirmed minimum deposit. Because the EA can stack several positions with a growing lot size, the margin needed depends on your broker, leverage and settings. Test on a demo account and check the worst drawdown before using real funds.
A broker with tight spreads, fast execution and an MT4 ECN-style account usually suits short-timeframe EAs. Confirm that the broker allows hedging and automated trading if you plan to use the hedge option.
Forex Miner EA
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