🔍 Fun Time EA – Smart Trend-Following Automation for MetaTrader 4

"Trade Smarter, Not Harder – Let ATR-Guided Trends Work for You!"

📘 1. Overview of the Expert Advisor

The Fun Time EA is a trend-following automated trading system designed for MetaTrader 4 (MT4). It uses price action (open/close comparison) to detect trends and executes trades with dynamic stop-loss (SL) and take-profit (TP) based on the Average True Range (ATR).

🔑 Key Features:

✔ Trend Detection – Trades based on bullish/bearish candle closes.

✔ ATR-Based Risk Management – Adjusts SL/TP dynamically using ATR multipliers.

✔ Trailing Stop Function – Locks in profits as the market moves favorably.

✔ Flexible Lot Sizing – Supports both fixed and risk-based auto-lot calculation.

✔ Trade Commenting – Labels trades with "ER_BUY" or "ER_SELL" for easy tracking.

⚙️ 2. How the EA Works

📈 Trade Entry Logic:

Long (Buy) → Triggered when the current candle opens lower & closes higher (bullish candle).

Short (Sell) → Triggered when the current candle opens higher & closes lower (bearish candle).

🎯 Exit Logic (TP/SL Calculation):

Take Profit (TP) = Entry Price ± (ATR × TakeFactor)

Stop Loss (SL) = Entry Price ± (ATR × StopFactor)

Trailing Stop (Optional) → Activates after price moves favorably by Tstart pips, then adjusts in Tstep increments.

📊 Indicators Used:

ATR (14-period) – Determines market volatility for SL/TP placement.

🖥️ 3. How to Run the EA

📌 Installation Steps:

Download the EA (.mq4 file).

Copy it into MT4 MQL4 Experts.

Restart MT4, then drag & drop the EA onto an H1 chart.

Enable "AutoTrading" (Ctrl + T) and set parameters.

⚡ Recommended Settings:

Timeframe: H1 (1-hour chart) (mandatory, as enforced in code)

Currency Pairs: Works best on major pairs (EURUSD, GBPUSD, etc.) with low spreads.

Broker Type: Suitable for ECN/Raw Spread accounts (avoids slippage issues).

Testing: Always forward-test on a demo account before going live.

🛠️ 4. Input Parameters & Settings

ParameterDescriptionDefault ValueOptimal Range

MagicNumberUnique trade identifier.1001Any unique number

AutoLotIf true, calculates lot size based on risk.truetrue/false

FixedLotFixed lot size (if AutoLot=false).0.10.01-100

RiskRisk percentage per trade (if AutoLot=true).2%1-5%

TakeFactorMultiplier for TP (ATR-based).4.21.0-5.0

StopFactorMultiplier for SL (ATR-based).4.91.0-5.0

UseTstopEnables trailing stop.truetrue/false

TstartPips needed to activate trailing.4810-50

TstepPips increment for trailing adjustment.3610-50

oscb/oscsTrade comments for Buy/Sell orders."ER_BUY"/"ER_SELL"Customizable

⚖️ Risk Management Tips:

Higher TakeFactor = Wider TP (allows more room for volatility).

Lower StopFactor = Tighter SL (but may increase stop-outs).

Trailing Stop (Tstart & Tstep) → Should be smaller than TP distance to lock in profits.

📌 5. Additional Notes & Warnings

⚠ Important Considerations:

Works only on H1 timeframe (code enforces this).

Avoid using on exotic pairs (high spreads may affect performance).

Backtest first – Optimize TakeFactor & StopFactor for best results.

MT4 Only – Not compatible with MT5.

💡 Pro Tip:

If the market is choppy, increase ATR multipliers (TakeFactor & StopFactor) to avoid premature exits.

🧑💻 6. Developer & Source

Developer: R.KH 1001

Official Website: https://www.robomql.com

🚀 Final Thoughts:

The Fun Time EA is a solid trend-following system that leverages ATR for dynamic risk management. While simple, it can perform well in trending markets—always test before live deployment!

Happy Trading! 📊💹