Magnat

Magnat is an expert advisor for MetaTrader 4 that decides when to trade using a moving average direction filter, an ATR volatility check and its own market analysis routine. It exposes a large number of inputs, so it can be tuned for different symbols and broker conditions.

How it works

The entry logic has three parts. A moving average, with its own timeframe, period, method, applied price, shift and deviation, gives the basic direction. An ATR reading with separate timeframe, period, shift and deviation inputs checks whether volatility is suitable. A market analysis block, controlled by depth, deviation, period, filter and index inputs, adds a further condition. A second moving average, set under the trade options, acts as a priority or defining filter.

Depending on settings, the expert opens direct market positions or places dynamic pending orders that follow the price using an opening distance, a trailing distance and a trailing step. A switch decides whether only one position is open at a time or several positions can be opened as conditions develop.

Order handling

Magnat tracks spread and slippage so it can avoid entries when conditions are poor. It normally manages only its own orders, but it can be set to look after manual trades and trades from other experts as well. This matters if you run several automated systems on one account.

Stops, targets and trailing

• Take profit is a fixed level.
• Stop loss can be fixed, or it can follow a moving average with its own timeframe, period, method, price, shift and deviation.
• Trailing can be applied to individual positions, to all same-direction positions relative to the one furthest from price, or relative to the zero profit level, which takes priority when enabled.

Money management

The expert can calculate lot size automatically or trade a fixed volume. Check the money management inputs in the properties window and choose values that match your account size and the loss you can accept on each trade.

Markets and timeframes

It can be attached to any instrument offered in MT4, and several charts can run side by side, each working independently. M5 is the recommended chart timeframe. The defaults are intended for brokers with low spreads, good execution and minimal slippage, so other conditions call for adjustments.

Settings

Exact default values are shown in the input tab after you attach the expert, so review them there rather than assuming them.

Risk

Installation

1. In MT4, open File, then Open Data Folder.
2. Copy the expert file into MQL4/Experts.
3. Restart MT4 or refresh the Navigator panel.
4. Open an M5 chart of your chosen symbol and drag Magnat onto it.
5. Enable algorithmic trading in the toolbar and allow live trading in the expert properties.
6. Review the inputs, then run it on a demo account first.