Shadow Trail EA Source Code

This page gives you the Shadow Trail EA free source code, the .mq5 file itself and not a compiled robot you have to trust. Its whole personality is in the exit, not in the entry.

• Platform: MetaTrader 5, a single .mq5 file
• Strategy: Chandelier Exit and zero lag average on Heikin Ashi candles
• Price: free, a free account is all you need
• Licence: study it, edit it and, if you want, rebrand it

How the Shadow Trail strategy works

Shadow Trail reads Heikin Ashi candles, which average consecutive bars and therefore show a trend as a run of same coloured bodies instead of a fight between wicks. On top of that it uses a zero lag moving average to define direction with less delay than a classic average.

The interesting part is the Chandelier Exit. It hangs the stop from the highest point reached since the trade opened, at a distance measured in volatility, so the stop climbs while the move continues and never moves backwards. As a result the robot holds a winner for as long as the trend behaves and leaves quickly once it breaks.

What is inside the Shadow Trail EA free source code file

• The Heikin Ashi conversion, done inside the file.
• The zero lag average, with its period.
• The Chandelier Exit, the lookback and the multiplier that set the trailing distance.
• The entry rule that combines colour and direction.
• Every input with its default value.

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 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 Shadow Trail 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 multiplier of the exit is the knob that changes everything, because it decides how much room a trade gets before the trailing stop takes it out. The averaged candles also hide the real open and close, so if you prefer to enter on raw price the conversion is easy to bypass.

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 a trailing stop is explained well on this reference page.

Questions about the Shadow Trail EA free source code

Which platform is it for? MetaTrader 5.

Why Heikin Ashi? Because it makes a trend easy to read. Keep in mind that those candles are averaged, so entries are confirmed a little later.

Does it repaint? The exit is calculated on closed bars, and the file shows exactly where.

Can I reuse only the trailing part? Yes, it is the most portable piece of the robot.

Download the Shadow Trail 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.