EA Price Action Source Code V1.0 MQ4

Introduction

Tired of black-box expert advisors that burn through your balance? You’re not alone—many traders jump from one “miracle EA” to the next, only to end up frustrated and out of pocket. That’s why we’re excited to introduce the EA Price Action Source Code V1.0 MQ4, a 100% free, fully transparent ForexFactory EA powered by YoForex. You get the raw MQL4 source code, no hidden logic, no monthly fees… just pure price-action trading designed to capture high-probability moves. Whether you’re a coding pro who wants to customize every parameter or a newbie craving clarity on exactly how your robot makes decisions, this EA’s got you covered.

Overview

EA Price Action Source Code V1.0 MQ4 reads pure candlestick patterns and dynamic support/resistance levels—no lagging indicators, no Martingale, no grid. Instead, it looks for classic price-action signals (pin bars, inside bars, breakouts) on any MT4 timeframe, then places strategic pending orders. YoForex’s dev team spent months back-testing this on EURUSD, GBPUSD, and USDJPY, then ran it live for three straight quarters to fine-tune entry filters and risk controls. It’s lightweight, requires minimal chart objects, and comes with full source code so you can tweak, extend, or audit every line.

Key Features

• Pure price-action logic: pin bars, inside bars, double tops/bottoms
• Multi-symbol support: EURUSD, GBPUSD, USDJPY, and more
• Adjustable timeframes: M15–H4 recommended
• No Martingale, no grid; fixed-lot or equity-percent sizing
• Dynamic stop loss & take profit based on recent swing highs/lows
• Optional spread and slippage filters
• Friday session auto-close to avoid weekend gaps
• Full MQL4 source code included

Backtest Proof & Live Performance

We ran a rigorous backtest from January 2018 to December 2023 on EURUSD H1 with 10 000 simulated trades. The equity curve shows a steady upward slope with a maximum drawdown of just 8.5%—not a rollercoaster but a smooth climb. Average monthly return clocked in at 2%, with a win rate of 64% and a risk-reward ratio of 1.8:1. Below is a snapshot of the backtest equity curve (alt text: “Backtest equity curve for EA Price Action Source Code V1.0 MQ4”).

On a live ECN account, YoForex deployed the EA on a $5 000 balance from January to June 2024. The robot produced an actual 11% gain with zero grid/liquidation events. You can see detailed monthly logs in our <a href="https://www.forexfactory.cc/user-reviews">User reviews</a> section.

Installation & Setup

Download the free source code from ForexFactory.cc →
Download EA Price Action Source Code V1.0 MQ4

Copy EA_PriceAction_V1.0.mq4 (and .ex4 if compiled) into your MQL4/Experts folder.

Open MetaTrader 4, then refresh the Navigator panel or restart MT4 so the EA appears under “Expert Advisors.”

Attach it to any chart. In the Inputs tab, adjust:
- LotSize (fixed or percent)
- MaxSpread filter
- Timeframe (set to H1 by default)
- Entry pattern toggles (pin bar, inside bar)

Activate AutoTrading and sit back—coz the EA handles entries, exits, and risk management automatically.

(Alt text: MT4 Navigator panel showing EA Price Action under Experts.)

Customization & Risk Management

Since you have full source access, you can:

Add new price-action patterns (like fakey setups)

Integrate your own trend-filter (moving averages, RSI)

Tweaks break-even or trailing stop logic

Implement news-filter pauses
Feel free to fork the code and share improvements with the community—this is what open-source trading is all about.

Why YoForex-Powered Tools?

YoForex is committed to transparency and community-driven innovation. Every EA or indicator we release is:

100% free with fully open source code

Back-tested on multiple currency pairs and timeframes

Continuously optimized based on live feedback

Supported by a growing dev forum on ForexFactory.cc

Learn more about our philosophy on our <a href="https://www.yoforex.net/about-us">About Us</a> page.

Support & Disclaimer

Got questions or need help customizing the EA? Join our Telegram group or ping us on WhatsApp:

WhatsApp: https://wa.me/+443300272265

Telegram: https://t.me/yoforexrobot

Disclaimer: Past performance isn’t a guarantee of future results. Always demo-test any EA—including EA Price Action Source Code V1.0 MQ4—before going live. Trade responsibly and never risk more than you can afford to lose.