SpikeRiderPRO MT4
- Experts
-
Artem Koliada
MQL4/MQL5 Developer 💻 | Turning trading strategies into profitable code. Expert Advisors (EA) & Custom Indicators for MT4/MT5. Let's automate your trading - Version: 1.0
- Activations: 8
IMPORTANT: The recommended .set file is attached in the COMMENTS section of this product. The default input values are generic and are NOT the recommended trading settings. Please download the set file from the comments and load it in the EA inputs before use.
Spike Rider PRO – volatility breakout Expert Advisor for MetaTrader 4
Spike Rider PRO trades sharp volatility spikes. When a candle closes with a range several times larger than the average ATR, the EA places a pending stop order in the direction of the trend filter and follows the price until the breakout is confirmed.
HOW IT WORKS
- Signal: the range of the last closed bar is compared with the average ATR. If it exceeds the set multiplier, a signal is generated.
- Direction: an EMA trend filter defines the side – price above the EMA → Buy Stop, below → Sell Stop.
- Entry: the pending order is placed at a set distance from the price and is pulled behind the price until it triggers. Unfilled orders are deleted after the set lifetime.
- Signal timeframe is independent of the chart timeframe (e.g. M5 signals on an H1 chart).
- Only one position at a time. No martingale, no grid, no hedging, no averaging.
POSITION MANAGEMENT
- Stop Loss and Take Profit are set immediately after the order is filled.
- Tick-by-tick trailing stop.
- Breakeven that accounts for commission and swap.
MONEY MANAGEMENT
- Fixed lot or risk % per trade (calculated from the Stop Loss distance, optionally including spread).
- Lot size limit: no limit (broker maximum) or your own maximum lot.
- If the calculated lot exceeds the allowed limit or available margin, the EA uses the maximum available lot instead of skipping the trade.
- Free margin control before every order.
FILTERS AND PROTECTION
- Maximum spread filter.
- Trading time window.
- Automatic adaptation to 4/5-digit quotes.
- Handling of broker stop and freeze levels, retry on temporary server errors.
INFORMATION PANEL
Symbol and signal timeframe, spread, current bar range vs. ATR trigger, trend side, next lot and risk on SL, EA status, pending orders, open position, profit for day / week / month. Buttons: PAUSE (stop new entries) and CLOSE ALL.
MAIN INPUTS
- Candle Strength Index – ATR multiplier for the signal candle
- Averaging Index – EMA trend filter period
- ATR averaging period
- Signal timeframe
- Indent from price for pending order (points)
- Stop Loss / trailing distance, Take Profit, Breakeven (points)
- Maximum spread, Max slippage
- Working time (start / finish)
- Risk %, fixed lot, lot size limit, max share of free margin per order
- Pending order lifetime (minutes)
- Magic number, order comment, panel settings
RECOMMENDATIONS
- Use the set file from the comments.
- Recommended signal timeframe: M5 (as in the set file). The chart timeframe can be any.
- Low-spread account (ECN / Raw) and a VPS are strongly recommended, as the strategy works with short distances and fast price movements.
Trading Forex and CFDs involves a high level of risk. Past results, including backtests, do not guarantee future results. Use only funds you can afford to lose.
