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Majestic FX MT4 Fiber

Majestic FX MT4 Fiber is an MetaTrader 4 expert advisor tuned for EUR/USD on the H1 chart. It offers several lot-sizing modes, trade filters, a news filter, equity protection and exit tools such as trailing stop, partial close and break even.

Built for MT4 and tuned by its author for EUR/USD on the H1 timeframe
Four lot-sizing modes, including fixed lot and percentage risk per trade
Spread, time, maximum-trades and news filters to limit when it trades
Trailing stop, partial close, smart break even and ATR-based SL/TP
Equity protection and on-screen or push error alerts
Info dashboard and slippage and latency log

Type: Expert Advisor
Platform: MetaTrader 4
Strategy: General
Status: Launching soon

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Overview

Majestic FX MT4 Fiber is an automated trading program for MetaTrader 4. Its author tuned it for EUR/USD on the one-hour chart, and it includes a wide set of money management, filtering and trade management options so that you can adjust how it behaves.

How it works

The expert advisor opens and manages trades on its own once it is attached to a chart. The details of its entry logic are not spelled out in the product information we hold, so treat it as a black box and judge it through testing rather than assumptions. What is documented is the control layer around the trades, which is where most of the settings sit.

Position sizing

Fixed lot size.
Risk per trade as a percentage of the account.
Risk per trade as a fixed money amount.
A lot-to-balance ratio, for example a set number of lots for every 1,000 units of account balance.

Exits and trade management

Stop loss and take profit calculated from the Average True Range of the last candle.
Partial close of the initial trade by a percentage.
Trailing stop set in pips.
Smart break even, which moves the stop once a set number of pips is reached and accounts for commission and spread.
Time exit options: close all trades, choose an exit day and time, or stop trading until the next day.

Filters and safeguards

Spread, time-of-day and maximum-trades filters.
A news filter covering low, medium and high impact events and Non-Farm Payrolls.
Equity protection intended to limit the effect of an unexpected drawdown.
Error alerts on screen or by push notification if the EA cannot set SL/TP or open or close a trade.
A slippage and latency tracker that records execution delay and slippage to a file.

Markets and timeframes

The primary setup is EUR/USD on H1. The author also mentions AUD/JPY, EUR/AUD, USD/CAD, USD/CHF and USD/JPY as pairs that produced good test results. Start with the main pair and timeframe, and only add others after your own testing with your broker's data.

Settings

Exact default values can differ between builds, so open the input tab and read each description before you trade. The table lists the main groups.

Group	What it controls
Money management	Lot mode, risk percentage, risk amount, lot ratio
Time exit	Close-all, exit day and time, pause until next day
Trade filters	Spread, trading hours, maximum open trades
SL/TP	ATR-based stop and target distances
Trade management	Partial close, trailing stop, break even
Protection	Equity protection, news filter
Monitoring	Info dashboard, error alerts, slippage log

Risk

Trading carries risk, and you can lose some or all of your capital. Past results, including any backtest, do not predict future ones. Test on a demo account first and only risk money you can afford to lose.

Spreads, slippage, swap and execution speed differ between brokers and can change results noticeably. Use the slippage log and the info dashboard to review what is actually happening on your account.

Installation

Extract the downloaded archive on your computer.
In MT4, choose File > Open Data Folder and open MQL4 > Experts.
Copy the expert file into that folder and restart MT4 or refresh the Navigator panel.
Open an EUR/USD chart, set it to H1 and drag the EA onto it.
On the Common tab, allow algo trading, then review the inputs and press OK.
Make sure the AutoTrading button in the toolbar is active and that the dashboard appears on the chart.

A VPS can help keep the terminal running continuously, which suits an automated system that manages open trades.

Specifications

Product type	Expert advisor (automated trading)
Platform	MetaTrader 4 (MT4)
Strategy focus	General
Delivery	Download from your account after purchase
License key	Not needed
Status	Launching soon
Primary market	EUR/USD
Other pairs mentioned by author	AUD/JPY, EUR/AUD, USD/CAD, USD/CHF, USD/JPY
Primary timeframe	H1
Money management	Fixed lot, risk %, risk in money, lot-to-balance ratio
Protection tools	Equity protection, spread filter, news filter, time exit
Requirements	MT4 terminal with algo trading enabled; VPS suggested

Reviews

No reviews yet. Customers who own Majestic FX MT4 Fiber can review it here.

Before you run it on a live account

Backtest it properly. Use real tick data and your broker's spread. How to backtest an EA
Load the right set file. Use the settings file for your symbol and timeframe, and check the digits and GMT offset against your broker. Set files in MT4 and MT5
Run it on a demo account. A few weeks of live demo trading shows how it handles real spreads and slippage.
Size it to your risk. Set the lot size from the amount you're prepared to lose per trade. Position size calculator
Know the worst case. Check how deep a losing streak could take the account. Risk of ruin calculator
Keep it running. An EA only trades while its terminal is open. Running an EA on a VPS
If it opens no trades, check the Algo Trading button, the EA's own permission and its filters before anything else. EA not trading checklist

Frequently asked questions

Does this expert advisor work on MetaTrader 5?

No. It is built for MetaTrader 4 and will not load in MT5. If your broker only offers MT5, you would need a version made for that platform.

Which symbol and timeframe should I use?

The author optimised it for EUR/USD on the H1 chart. AUD/JPY, EUR/AUD, USD/CAD, USD/CHF and USD/JPY are also mentioned as pairs where it was tested. Run your own tests on your broker's data before using any pair other than EUR/USD.

How do I install it?

Extract the download, copy the expert file into the MQL4/Experts folder using File > Open Data Folder in MT4, then restart the terminal or refresh the Navigator. Drag it onto a chart and tick Allow Algo Trading in the properties window. Also make sure the AutoTrading button in the toolbar is switched on.

Can I choose how much it risks per trade?

Yes. The money management section lets you use a fixed lot size, a percentage of balance, a fixed money amount per trade, or a ratio of lots to account balance. Pick conservative values and confirm them in the Strategy Tester and on a demo account first.

Does it avoid trading around news releases?

It includes a news filter that can block trading around low, medium or high impact news and around Non-Farm Payrolls. Check how the filter gets its data and that it works with your terminal before relying on it.

Is there a recommended minimum deposit or broker type?

No exact figure should be assumed. Check the input descriptions and test with your broker's spreads, commissions and execution speed. Low spreads and fast execution generally suit an H1 system better, and a demo account is a sensible first step.

Majestic FX MT4 Fiber

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