Miracle (Source Code) MQ4

Miracle (Source Code) MQ4: A Comprehensive Overview::

The Miracle (Source Code) MQ4 is a free and open-source Forex trading robot designed for both MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. It aims to provide a simple yet effective implementation of the EA31337 framework and various trading strategies.

Key Features:

• Multi-Strategy Approach: The EA offers over 35 different strategies, each capable of analyzing the market independently on various timeframes.
• Technical Indicator-Based Analysis: The strategies rely on popular technical indicators to make informed trading decisions.
• Customization: Traders have the freedom to write their own custom strategies or modify existing ones.
• Compatibility: The source code is compatible with both MQL4 and MQL5, making it versatile across MetaTrader platforms.

Timeframe:

The Miracle (Source Code) MQ4 can operate on different timeframes, allowing traders to choose the one that aligns with their trading preferences. Whether you’re a scalper or a long-term investor, this EA adapts to your desired timeframe.

Currency:

The choice of currency pairs depends on your risk appetite, market conditions, and trading goals. However, some commonly traded pairs include:

• EUR/USD: The most liquid and widely traded currency pair.
• GBP/USD: Known for its volatility and liquidity.
• USD/JPY: Popular among traders due to its stability.

Minimum Deposit:

While the EA is free to use, it’s essential to consider your account size. A recommended minimum deposit would be around $500 to ensure sufficient margin for trading.

Strategy:

The EA’s trading strategy involves a combination of the following elements:

1. Moving Averages (MA): Utilizes MAs to identify trend direction and potential entry points.
2. RSI (Relative Strength Index): Helps gauge overbought or oversold conditions.
3. MACD (Moving Average Convergence Divergence): Provides signals based on moving average crossovers.

Trade Execution:

• Long Trades: The EA enters long positions when the following conditions align:
  • MA crossover (shorter MA above longer MA).
  • RSI indicates oversold conditions.
  • Positive MACD histogram.
• Short Trades: The EA enters short positions when the opposite conditions occur.

Legal Note: The Miracle (Source Code) MQ4 is released under the GNU GPLv3 license, granting you the freedom to use, modify, and share the software. However, use it responsibly, and understand that neither the company nor the author can be held liable for any losses incurred.