Maelstrom EA Source Code

This page gives you the Maelstrom EA free source code, the .mq5 file itself and not a compiled robot you have to trust. The engine is Ichimoku and ATR, and you can rebuild any part of it.

• Platform: MetaTrader 5, a single .mq5 file
• Strategy: Ichimoku and ATR
• Price: free, a free account is all you need
• Licence: study it, edit it and, if you want, rebrand it

In short, you get exactly the file we publish, and therefore nothing stops you from rebuilding any part of it.

How the Maelstrom strategy works

Ichimoku is not one line but a set of them, and the cloud between two of those lines shows where the market found balance in the recent past. Price above the cloud describes a healthy rise, price below it a healthy fall, and the robot uses that as its map.

The ATR measures how far price travels in an average bar, so it describes the temperature of the market rather than its direction. The robot uses it to size the stop and the target, which keeps the same settings usable when the pair speeds up or goes quiet.

Because every condition has to agree before a trade opens, the robot passes on plenty of moves. That is the trade off it was built around.

What is inside the Maelstrom EA free source code file

• The Ichimoku block, with its three classic periods and the cloud comparison.
• The ATR block, with its period and the multipliers for stop and target.
• The risk block, with the lot sizing, the stop loss and the take profit.
• Finally, every input with its default value, so you can compare it against your own broker.

How to compile and run it

1. First, download the .mq5 file from the button at the end of this page.
2. Then open MetaEditor 5 from MetaTrader 5, with F4 or the editor button.
3. After that, save the file inside MQL5 and then Experts, and press Compile.
4. Finally, refresh the Navigator and drag Maelstrom onto a chart.
5. Run it on a demo account first, and read every input before you go live.

If the compiler complains, our guide on compiling MQL source covers the usual causes. In most cases it is simply a missing include or the wrong folder.

What you can change

The three periods come from the daily chart of another era, so on a fast chart they are worth scaling. Change them together, because they describe one system and not three separate settings.

Before any of that, however, look at the risk block. After all, a good entry with the wrong lot size still empties an account, and therefore the sizing deserves the first pass rather than the last.

More robots like this one are in the free EA source code library, and the paid catalogue with documentation and support lives in the MT5 source code section. The idea behind the Ichimoku system is explained well on this reference page.

Questions about the Maelstrom EA free source code

Which platform is it for? MetaTrader 5, as a single .mq5 file.

Do I get updates? You get the file as it stands. Once it is yours, you improve it.

What pairs suit it? Start with the majors on a demo account, because they behave predictably while you learn the settings.

Can I reuse a part of it? Yes, and that is usually the best use of a free robot. Take the block you need and drop it into your own.

Download the Maelstrom EA free source code

The file below is the complete .mq5. First of all, create a free account or log in. Then download it and, finally, open it in MetaEditor 5.