Introduction
Feeling boxed in by EAs that promise the moon but deliver glitchy trades? Tired of paying steep fees for black-box robots you can’t tweak? The EA Price Action Source Code V1.0 MQ4 is your answer—completely free, transparent, and built on pure price action logic. Whether you’re a veteran coder or just dipping your toes into MQL4, you’ll appreciate having full access to every line of code. No more mystery settings; you see it, you adjust it, you own it.


At its core, this MT4 Expert Advisor reads classic price action patterns—pin bars, engulfing bars, inside bars—and turns them into automated trades. Forget lagging indicators that repaint or extra filters you don’t understand. This EA uses candlestick structure and simple swing highs/lows to trigger entries and exits. You get a clean chart, minimal drawdown, and the power to customize risk parameters however you like. It’s price action trading, finally in a plug-and-play EA you can audit yourself.


How It Works
The EA Price Action Source Code scans each new bar on your chosen timeframe. When it spots a valid pattern (for example, a bullish engulfing bar at a support level), it checks your risk settings and market conditions. If everything lines up, it places a pending order or a market entry, complete with stop loss and take profit based on recent swing points. You can enable break-even and trailing stops, too, by toggling simple boolean flags in the code.


 


EA Price Action Source Code V1.0 MQ4


 


Key Logic & Structure
• Pattern Detection: Pin bars, engulfing bars, inside bars
• Market Context: Trend direction filtered by moving-average slope
• Order Management: Pending orders or immediate market execution
• Risk Controls: Fixed-lot or percentage-based position sizing
• Exits: Static TP/SL, optional break-even, trailing stop


Each function in the .mq4 file is commented, so you’ll know exactly where to modify entry criteria, risk rules, or exit logic. It’s written with readability in mind—no obfuscated one-liners or hidden magic numbers.


Backtest & Performance
In backtests on EURUSD H1 from 2018–2024, the EA shows a steady equity curve with an average 6% annual return and max drawdown under 8%. On GBPUSD, you’ll see similar profiles when you tweak the MA filter to match pair volatility. Of course, every market evolves… so feel free to adjust the look-back period or add your own confirmation rules right in the source code.


Customization & Optimization
Because you have the source, optimization is a breeze. Want to test a tighter stop loss? Simply edit the StopLossPips variable. Curious if a 200-period MA filter performs better than 100? Change one line and recompile. No more guessing what the developer meant by “FilterLevel = 2.” You read it, you change it, you test it.


 


EA Price Action Source Code V1.0 MQ4


 


Installation Guide



  1. Download the EA_PriceAction_SourceCode_V1.0.mq4 file.

  2. Copy it into your MetaTrader 4\MQL4\Experts folder.

  3. Open MT4, go to Navigator → Expert Advisors, right-click and Refresh.

  4. Drag “EA Price Action Source Code” onto any chart.

  5. In Inputs, set your lot size, risk percentage, and timeframe filters.

  6. Hit OK and let it run in Strategy Tester or live mode.


Recommended Settings



  • Timeframe: H1 or H4 for more reliable patterns

  • Symbols: Major FX pairs (EURUSD, GBPUSD, USDJPY)

  • Balance: $500+ recommended for conservative risk

  • Max Trades: Limit to 1–2 open trades for drawdown control


Why Choose This EA?
Many free forex EAs hide their logic or lock critical settings behind paywalls. With EA Price Action Source Code V1.0 MQ4, everything is open—no subscriptions, no expiration, no “premium features” you can’t access. It’s perfect for traders who want a transparent, modifiable EA that truly reflects a pure price action strategy.


Community & Updates
Found a bug? Want a new feature? Since the source is public, you can fix it yourself or collaborate with the community on forums. We’ll post occasional updates with improved modules—just grab the new .mq4 from our Github mirror or website link.


Support & Responsibility
While this EA is free, you trade at your own risk. Always demo-test before going live, and never risk more than you can afford to lose. Past performance isn’t a guarantee of future returns, but having the source code in your hands is the first step toward developing a robust, personalized trading system.


⚡️Upgrade: Interested in a version with built-in news filter and multi-pair management? Check out our Premium download here: https://fxcracked.org/premium/ea-price-action-source-code-v1-0-mq4