Bandit EA is a free, fully automated Expert Advisor for MetaTrader 4, built around a band-based mean-reversion strategy. It protects every position with a fixed Stop Loss and Take Profit.
Recommended setup:
- Platform: MetaTrader 4 (MT4)
- Strategy: Mean reversion (bands)
- Best pair: major FX pairs
- Timeframe: M15 to H1
- Account type: ECN / Raw spread
- Price: FREE download
Bandit fades stretched moves back toward the mean using a rubber-band style band envelope, with fixed risk on each trade.
Download Bandit EA for free below. The package includes the ready-to-run .ex4 plus the full MQL4 source code so you can study or customize it.
Updated in June 2026
Bandit EA
Free Download - .zip file
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