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Cool EA MT4

Cool EA MT4 is a simple Expert Advisor based on Cool Indicator MT4 ( The Indicator is incorporated in the EA.)

Cool Indicator MT4 is based on Williams' Percent Range (%R) and Average True Range (ATR) and can be dowloaded from my product page.


Settings :

Magic number : 933278 ( is the unique number assigned to the trades placed by the Expert Advisor  )


The parameters below can be set according to your trading rules.

  • StopLoss : ( Stop Loss in pips )
  • Take Profit : ( Take Profit in pips )
  • TradeSize : 1.0
  • MaxOpenTrades=1 ( Maximum open trades per currency pair)
  • Hedging=true ( Hedging mode )


Some clarification to remember :

For 5-digit brokers : 1 Point=0.00001 and 1 Pip=0.0001 => 10 Points=1 Pip

For 4-digit brokers : 1 Point=0.0001 and 1 Pip=0.0001 => 1Points=1Pip

If your account type is Netting then set Hedging mode to false. 


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Version 2.0 2020.07.24
The EA is updated so that the entered Pip value will be converted to Point value for 3 and 5-digit symbols, this way the EA will work properly on both 4 and 5-digit brokers.