Forex Hero Expert Advisor

Forex Hero Expert Advisor review:

Hero is a P/L Manager.

This is not an Automatic Trading system. It’s an EA that helps managing positions opened by another EA or manually.

This EA includes the following functions (each of them can be enabled or disabled):

Profit management by Money or Percentage (calculated using Margin) with Trailing stop option

The EA will monitor positions selected using Magic number (Magic) to reach a profit. Once it is reached, it’ll close the position. If you enter a value for Profit_Perc ( % ), the system will close positions when profit reaches desired % of margin. For both options (Money or Percentage) you can use Trailing stop (in pips) if you select this option. Once the profit reaches a desired value (in cash or percentage), the system will apply a trailing stop to the open position and will close the position when the price hits stop loss.

Manage SL, TP and Trailing Stop of positions opened by another EA or manually

Classic option. The system will apply desired stop loss, take profit and trailing stop to open positions (selected by Magic).

For the system to manage TP, SL or trailing stopm set non-zero values for the corresponding parameters.

Martingale with adjustable distance from open position and profit to close all positions

If you select this option, the EA will monitor positions opened by another EA or manually. Positions are selected using the specified Magic Number (Magic).

In case of drawdown the EA will open a position in the same direction at the distance specified in Pipstep parameter, and it will manage all position opened.

Once a desired profit (Profit_Martin) is reached, it will close all positions.


If enabled, this function will monitor all positions by magic number and it’ll manage profit in money or percentage (of total margin). In this case the EA will EA work on all currency pairs, not only the current one.

It can be useful to manage all positions opened manually (magic = 0) even if they’re opened by symbol different from the current one.

Test results:

Forex Hero Expert Advisor


  • stoploss – desired stop loss. If you put 130, it means 13 pips. Default is 0, no execution.
  • takeprofit – desired take profit. If you put 130, it means 13 pips. Default is 0, no execution.
  • Magic – magic number to select positions to be managed. 0 means positions opened manually.
  • Magic_pyramid – a value > 0 activates Martingale option.
  • Slippage – to adjust slippage on to different brokers.
  • TrailingStop – desired trailing stop. 60 means 6 pips.
  • Pipstep – distance between positions opened by EA and positions open by Hero in case of MartinGale. 120 means 12 pips.
  • Profit_cash – a value > 0 activates profit management by money (i.e. 60 means 60 $ or Euro).
  • Profit_Perc – a value > 0 activateы profit managing by percentage (i.e. 60 means 60% of margin used by opened position).
  • Profit_martin – desired profit in case of MartinGale. 1 means 1 $ or Euro or £.
  • Manage_SL_TP – if true, Hero will apply SL, TP and trailing stop to open positions (they must have non-zero values).
  • Trail_active – if true, trailing stop is enabled.
  • SuperHero – if true, Hero will manage all positions with the same Magic (i.e. all manual trades).

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Copy and paste the file into the MQL4 Experts folder of the Metatrader 4 trading platform.

You can access this folder from the top menu as follows:

File > Open Data Folder > MQL4 > Experts (paste here)

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