🐍 "Trade Smart, Strike Fast – With Cobra PRO EA!"

📌 Expert Advisor Overview

Name: Cobra PRO EA

Version: 1.00

Developer: R.KH 1001

Source: https://www.robomql.com

Cobra PRO EA is an automated trading system (Expert Advisor) developed for the MetaTrader 4 (MT4) platform. It is designed for users seeking a blend of trend-following and martingale-based strategies, combined with highly configurable risk management and trading logic.

⚙️ How It Works

Cobra PRO EA uses a combination of the following strategies and mechanisms:

Martingale System: When a trade results in a loss, the next position size is increased using a multiplier (Lot_Martingale) to potentially recover previous losses.

EMA Filters: Uses two Exponential Moving Averages – a short-term (EMA_Main) and long-term (EMA_Trend) – to determine market trend direction and trade signals.

Virtual Stops & Emergency Stops: Configurable stop-loss and take-profit levels to manage risk, with optional hard stops as backup.

Candle Body Filter: Only trades when candles meet a minimum body size (CandleBodySize_pips), improving entry precision.

The EA is designed to run on tick events (new incoming price data) and can optionally be configured for other events (e.g., trading events or time-based intervals).

🛠️ Input Parameters

ParameterDescription

EA_NameName of the EA (used for identification/logging).

LotStarting lot size for trades.

Lot_MartingaleMultiplier for martingale trades.

Distance_BS_pipsDistance in pips between buy/sell trades in grid or recovery sequence.

Close_MoneyProfit target in monetary value ($) at which positions are closed.

EMA_MainPeriod for the fast EMA used for trade entries.

EMA_TrendPeriod for the slow EMA used for trend filtering.

CandleBodySize_pipsMinimum candle body size in pips for validating trade signals.

MagicStartBase number used for assigning unique Magic Numbers to trades.

🧰 Advanced Settings (Code-Level)

FeatureStatusDescription

Spread MeterEnabledAnalyzes current spread for better trade decisions.

Status DisplayEnabledProvides on-screen information about EA activity.

Test IndicatorsEnabledEnables internal indicators during backtesting.

Event Tick HandlingEnabledMain driver for EA execution – reacts to every new tick.

Event Timer/TradeDisabledNot used by default but present for future customization.

Virtual StopsDisabledCan be enabled to use non-broker-level stops.

Emergency StopsConfigurableHard stops for safety when virtual stops are used.

🧩 How to Install and Run

Copy the .mq4 file into the Experts folder in your MetaTrader 4 directory.

Compile the EA using the MetaEditor.

Attach to a Chart in MT4 (preferably a major currency pair).

Set your inputs in the EA properties window before enabling auto-trading.

Enable AutoTrading from the top toolbar in MT4.

📣 Important Notes

Backtesting is highly recommended before live use.

Consider enabling hard stops if operating on a volatile pair or during news sessions.

Use on brokers with tight spreads for best performance.

Monitor margin requirements due to potential martingale lot sizing.

👨‍💻 Developer and Source

Developer: R.KH 1001

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