Charles EA
Breakout + hedging multi-currency EA v2.1.5 · Free MQL5 Code Base · MT4
About Charles EA
The Charles EA (version 2.1.5, by developer afabiani), documented at mt4talk.com and the MQL5 Code Base (code/10823), is a multi-currency Expert Advisor for MetaTrader 4 that uses stop orders on breakouts and hedges losing orders, aiming to always close positions on a positive net result.
Version 2.1.5 is noted to be significantly more complex than earlier versions (e.g. Charles 1.3.7). It's an older, community-developed EA — some users have reported compatibility issues (compilation errors) with newer MT4 builds, so verifying compatibility with your specific build before use is recommended.
- Platform: MetaTrader 4
- Developer: afabiani
- Strategy: Breakout stop orders + hedging of losing positions
- Type: Multi-currency
- Version: 2.1.5
- Price: Free (MQL5 Code Base)
- Source: mql5.com/en/code/10823 · [EA] Charles 2.1.5
Key Features
✓ Free and open-source (MQL5 Code Base) — full source code available for review
✓ Multi-currency breakout strategy — not limited to a single pair
⚠ Uses hedging on losing orders — understand the added risk/margin implications before live use
⚠ Some users report compilation errors on newer MT4 builds — verify compatibility with your platform version first