MetaTrader Expert Advisors

Here you can download MT4 and MT5 expert advisors (EAs, also called robots) that can be used with the MetaTrader Forex trading platform to enhance your currency trading results with completely automated trading or simple expert advising (signals you can choose whether to act on or not). The expert advisors presented here implement the best trading strategies. They are free and open-source, so you can test and change them as you like before applying them on your real or demo Forex account. The results of my own testing are also shown for your convenience. The top expert advisors were selected to yield considerable profit with low maximum drawdown during backtests. You will need an account with some of the MT4 Forex brokers to use any of the MT4 EAs presented here. If you want to use an MT5 EA, you would need to open an account with a broker that supports MT5 version of the platform.

If you experience any problem whole installing a MetaTrader expert advisor in your platform, please refer to this tutorial: MetaTrader Expert Advisors User's Tutorial.

If you want to achieve higher backtesting quality for your expert advisors, please read this tutorial on importing and converting quality historical data in MetaTrader: MetaTrader History Data Importing and Converting Tutorial for Quality Backtesting.

Title Currency pairs Timeframes CPU load Test period Test lots Best result Test profit Max DrawDown
Heiken Ashi Naïve EUR/JPY D1 Low 01/01/2001–
12/06/2013
0.1 EUR/JPY @ D1 ~111% ~16%
  • Reverse Heiken Ashi strategy.
  • MT4/MT5
PersistentAnti All All Low 01/01/2009–
04/16/2013
0.1 EUR/USD ~20% ~9%
  • Measures persistence of price movements; trades against it.
  • MT4/MT5
Ichimoku Chikou Cross All All Low 01/01/2001–
05/23/2013
0.1 EUR/USD @ D1 ~67% ~8%
  • Uses Ichimoku Kinko Hyo for signals, ATR for position sizing.
  • MT4/MT5
Bollinger Bands Breakout All All Low 03/01/2019–
12/01/2020
0.1 EUR/USD @ H1 ~3.2% ~2.7%
  • A promising BB breakout expert advisor.
  • MT4
ATR Trailer All All Low 12/13/2010–
08/05/2011
0.1 EUR/USD @ H1 ~15% ~6%
  • Based on ATR trailing stop.
  • MT4/MT5
Adjustable MA 3G All All Average 07/01/2015–
03/16/2016
0.1 EUR/USD @ M5 ~16% ~7%
Spike Trader All All Low 01/01/2001–
05/11/2012
0.1 USD/CAD @ D1 ~74% ~5%
  • Based on USD/CAD spike trading strategy by Currency Trader magazine.
  • MT4/MT5
Weekly Breakout All W1 Almost 0% 01/01/2001–
02/07/2014
0.1 GBP/USD @ W1 ~53% ~20%
  • It trades on breakouts of the previous week's trading range.
  • MT4/MT5
  • A utility EA to trail stop-losses using a moving average.
  • MT4
MACD Pattern EUR/USD H4 Average 11/19/2006–
12/30/2013
0.3 EUR/USD @ H4 ~113% ~29%
  • EA based on MACD patterns for EUR/USD @ H4.
  • MT4
Bill Williams Alligator All All Low 03/01/2019–
12/01/2020
0.1 EUR/USD @ H1 ~14% ~6%
  • Basic EA based on Bill Williams' Alligator indicator.
  • MT4
2 MA Crossover All All Low 03/01/2019–
12/01/2020
0.1 EUR/USD @ M30 ~15%
  • Basic moving average crossover EA for further development.
  • MT4
myPickyBreakout All All Low 11/19/2004–
01/24/2014
0.1 EUR/USD @ D1 ~12% ~24%
  • Simple breakout strategy for Tuesday, Wednesday and Thursday.
  • MT4
Binario All All Average 11/19/2006–
01/24/2014
1.0 GBP/USD @ D1 ~63% ~57%
  • Traded only 4 times during the test. Better use as manual system.
  • MT4
Adjustable MA All All Low 04/01/2008–
01/24/2014
0.1 EUR/USD @ M5 ~12% ~13%
  • Customizable moving average cross EA.
  • MT4/MT5
Parabolic SAR All All Low 03/01/2019–
12/01/2020
0.1 EUR/USD @ H1 ~47%
  • A disastrous expert advisor based on PSAR indicator.
  • MT4
Stochastic Oscillator All All Low 03/01/2019–
12/01/2020
0.1 EUR/USD @ M15 ~70%
  • A disastrous EA based on stochastic oscillator indicator.
  • MT4
AUD/JPY Wednesday 15:00 AUD/JPY H1 Almost 0% 07/07/2008–
11/09/2009
1.0 AUD/JPY @ H1 ~100%
Framework All All Average 11/20/2006–
01/24/2014
0.1 GBP/JPY @ D1 ~100%
  • Based on CCI indicators.
  • MT4
Phoenix GBP/USD USD/JPY EUR/JPY GBP/JPY USD/CHF All Low 11/19/2006–
01/24/2014
1.0 GBP/USD @ M15 ~100%
  • Based on breakouts.
  • MT4
Otkat All H1 Low 11/19/2006–
01/27/2014
1.0 EUR/USD @ H1 ~100%
  • Pull-back strategy with low take-profit.
  • MT4/MT5
MACD Sample All All Low 11/19/2006–
12/30/2013
0.3 GBP/USD @ H4 ~100%
  • Sample MACD EA optimized for GBP/USD @ H4.
  • MT4
Artificial Intelligence All All Average 11/19/2006–
01/24/2014
0.1 GBP/USD @ H1 ~100%
  • Simple neural network.
  • MT4
myFXOverEasy All All High 11/19/2006–
12/30/2013
0.1 USD/CHF @ H4 ~100%
  • Multiple indicators system.
  • MT4
Account Protector All All Low
  • Trade management EA with a panel.
  • MT4/MT5
AutoTrading Scheduler All All Low
  • AutoTrading scheduling by days of the week.
  • MT4/MT5
Chart Pattern Helper All All Average
  • Trades based on manually drawn chart patterns.
  • MT4/MT5
One-Click Trade Pro All All Average
  • A dashboard panel to manage your orders and positions in one-click manner.
  • MT4
News Trader All All Low
  • News trading with early position entry.
  • MT4/MT5
Time Line Auto Close All All Low
  • Close some or all orders by a timer line.
  • MT4
ATR Trailing Stop All All Low
  • A utility EA to trail stop-losses using average true range indicator.
  • MT4
Move Stop to Breakeven All All Low
  • A basic move-stop-to-breakeven expert advisor.
  • MT4
Amazing All All Low
  • News trader. You give it a date and time of a news and it sets up the breakouts. Good for Forex news traders.
  • MT4/MT5
Fractals Trailing Stop All All Low
  • A utility EA to trail stop-losses using the fractals indicator.
  • MT4
PSAR Trailing Stop All All Low
  • A utility EA to trail stop-losses using Parabolic SAR.
  • MT4
Fixed Step Trailing Stop All All Low
  • A utility EA to trail stop-losses using a fixed step method.
  • MT4
High/Low Trailing Stop All All Low
  • A utility EA to trail stop-losses using recent highs and lows.
  • MT4
Supertrend Trailing Stop All All Low
  • A utility EA to trail stop-losses using the Supertrend indicator.
  • MT4
Ghost SL & TP All All Low
  • Hide stop-loss and take-profit from your broker.
  • MT4
myRandom All All Low 11/19/2006–
01/25/2014
0.1 GBP/JPY @ H1 ~100%
  • Completely random expert advisor.
  • MT4/MT5
Moving Average Trailing Stop All All Low
  • MT4/MT5
MT4 Expert Advisor Template All All None
  • Basic template to create your own MT4 expert advisors.
  • MT4

Nearly all EAs listed here feature some ECN-compatibility status. ECN-compatibility means that an expert advisor can work with ECN MetaTrader brokers (the ones that force market execution for trading robots). Market execution means that you cannot add stop-loss or take-profit levels during the position opening; stop-loss and take-profit may be added only later by modifying the existing position.

There are three categories of the MT4/MT5 expert advisors listed above:

  • ECN-compatible — such expert advisors either detect the broker's execution type automatically or have a special input parameter called ECN_Mode, which when set to true will switch the EA to ECN mode so that all stop-loss/take-profit levels are applied only after position is opened. This will create a small delay in execution and also a short period when position exists without a stop-loss but, usually, both are negligible.
  • ECN-incompatible — expert advisors from this group will most probably not work properly with market execution brokers. They will trigger OrderSend Error 130 messages and their orders will not go through the ECN execution system. You will have to either try modifying them yourself, disabling SL/TP levels, or switch your broker to the one with instant execution.
  • ECN-safe — these EAs have no problem working with market execution because they either do not use explicit stop-loss/take-profit levels or trade solely via pending orders, which is OK with ECN Forex brokers. They do not have any special input parameters for enabling ECN mode.

Each expert advisor's category is visible on its description page along with a detailed explanation of this category.

If you want to share your own expert advisor or if you want to comment on any Forex robot (EA) presented here, please visit our forum on MetaTrader expert advisors.

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