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Pirate is an MT4 expert advisor that trades several currency pairs on any timeframe, with risk-based or fixed lot sizing, trading hour limits and caps on open buy and sell positions. It runs unattended once attached to a chart.
Get one message the moment it launches, with its price.
Pirate is an expert advisor for MetaTrader 4 that opens and manages forex positions automatically. It is built around a handful of currency pairs, lets you size trades by a risk value or a fixed lot, and gives you control over trading hours and the number of open positions.
Once attached to a chart, the EA places buy and sell positions on its own and manages them with the take profit and stop loss values you set. The listing does not describe the entry logic in detail, so treat it as a black box and judge it by testing rather than by assumptions. Run it on a demo account for a meaningful period and review how it behaves in different market conditions before using real money.
The inputs allow you to cap how many buy positions and how many sell positions can be open at the same time. A restoring balance option is also included, with a global variable reset prompt. Check how this feature affects position sizing in your own tests, because features of this kind can increase exposure after losing periods.
The author suggests these pairs: EURAUD, CHFJPY, EURCHF, EURGBP, AUDCHF, CADCHF and USDCHF. Any timeframe is said to be usable. Because each chart runs its own instance, you will typically open one chart per pair.
The main inputs are listed below. Default values are not given here, so check them in the terminal after you attach the EA.
| Parameter | Purpose |
|---|---|
| USING | Choose risk-based sizing or a fixed lot |
| RISK/LOT | The risk value or lot size, depending on the mode |
| RESTORING_THE_BALANCE | Turns on the balance restoring function |
| HOW_THE_RESET_WINDOW | Resets the global variable once on a new account or after a withdrawal |
| TAKE_PROFIT / STOP_LOSS | Profit and loss levels for positions |
| COUNT_BUY / COUNT_SELL | Maximum simultaneous buy and sell positions |
| START_TRADING / STOP_TRADING | Hours during which the EA may trade |
| TRADE_ON_FRIDAY / TRADE_ON_MONDAY | Allow trading on Friday evening and Monday morning |
| MAGIC_NUMBER | Identifier for the EA's positions |
| PRINT_ENABLE / ALL_MESSAGES | Control journal output |
The reset prompt only needs to be used once when moving to a new account or after taking funds out. After that it can be switched off.
Trading forex and CFDs carries a high level of risk and you can lose more than you expect. Past results, including any shown in backtests or on signal pages, do not predict future ones. Read your broker's conditions, test on a demo account and only risk money you can afford to lose.
For continuous operation, consider a VPS so the terminal stays connected and running.
| Product type | Expert Advisor |
|---|---|
| Platform | MetaTrader 4 |
| Strategy focus | General |
| Delivery | Download from your account after purchase |
| License key | Not needed |
| Status | Launching soon |
| Category | Expert advisor (automated trading) |
| Suggested pairs | EURAUD, CHFJPY, EURCHF, EURGBP, AUDCHF, CADCHF, USDCHF |
| Timeframes | Any, according to the author |
| Account type | ECN or ECN Pro, five-digit quotes, moderate spread |
| Lot sizing | Risk percentage or fixed lot |
| Starting deposit | Author suggests from 100 units; confirm with your broker |
| Requirements | Algo trading enabled, terminal running continuously or on a VPS |
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This listing is for the MetaTrader 4 build. It will not run on MT5, which uses a different program format. If you trade on MT5, look for a product made specifically for that platform before buying.
The author recommends an ECN or ECN Pro account with five-digit quotes and a moderate spread. Spreads and execution differ between brokers, so read your broker's trading conditions and test on a demo account first.
The author suggests EURAUD, CHFJPY, EURCHF, EURGBP, AUDCHF, CADCHF and USDCHF, and says any timeframe can be used. Open a separate chart for each pair and apply the EA to each one, using a distinct magic number per chart if you want to tell positions apart.
Copy the expert file into the MQL4/Experts folder through File > Open Data Folder in MT4, then restart the terminal or refresh the Navigator. Drag the EA onto a chart, tick Allow live trading on the Common tab, and make sure the Algo Trading button in the toolbar is on.
The parameter list includes a restoring balance function with a one-time reset prompt for new accounts or after withdrawals. The exact behaviour is not described in detail here, so read the input descriptions in the terminal and test on a demo account to see how it affects lot sizes before you use it live.
No. Automated trading carries risk, you can lose part or all of your deposit, and past results do not predict future ones. Start with a demo account and small risk settings.
Pirate
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