Velocity Edge EA Source Code

This page gives you the Velocity Edge EA free source code, the .mq5 file itself and not a compiled robot you have to trust. It measures speed first and direction second.

• Platform: MetaTrader 5, a single .mq5 file
• Strategy: dual momentum filtered by an exponential moving average
• Price: free, a free account is all you need
• Licence: study it, edit it and, if you want, rebrand it

How the Velocity Edge strategy works

Velocity Edge reads momentum on two different periods. First of all, the short reading says what price is doing right now. The long one, meanwhile, says whether that push belongs to a bigger movement or is simply a bounce inside it.

An exponential moving average sits on top as a filter, and the robot only takes longs above it and shorts below it. Consequently the two momentum readings decide when to act and the average decides whether the robot may act at all, which keeps the robot from buying strength in the middle of a fall.

What is inside the Velocity Edge EA free source code file

• The two momentum blocks, with their periods and thresholds.
• The moving average filter, which in turn decides the side it permits.
• The entry function, where the three conditions meet.
• The exits, stop, target and break even.
• Finally, 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 Velocity Edge 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

Above all, study the threshold that separates real momentum from ordinary movement, because it sets how demanding the robot is. The average period comes second. In addition, making it longer turns Velocity Edge into a slower robot that trades less often and holds longer.

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 price momentum is explained well on this reference page.

Questions about the Velocity Edge EA free source code

Which platform is it for? MetaTrader 5.

Does it work on any pair? The logic stays generic, so in practice the pair only changes which thresholds make sense.

Is the code commented? The structure stays plain and, as a result, each block does one thing, which is what makes it a good base.

Can I add my own filter? Yes, the entry function holds the whole decision in one place.

Download the Velocity Edge 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.