ALG
From the Old Kings archive: ALG, an expert advisor (trading robot) for MetaTrader 4. It raises the lot size after losses (martingale — high risk), can hold buy and sell positions together and places pending orders. It has 7 settings, for example P1 (default This EA Version is AUTH), P2 (default --- Trading Parameters ) and P3 (default RISK LEVEL (1=LOW recomm). Watch it on a demo account for a while — robots can behave differently with each broker. Inside: 1 EA file with source code (.mq4) you can open and edit in MetaEditor. Old Kings are classic community tools shared as-is. Not tested by PolyMaria. Try it on a demo account first. Are you the author of this tool? Message us on Telegram (@abumarket_support) and we will credit you or take it down.
Expert advisor · MT4 · v1.0 · Free
About ALG
ALG is an expert advisor (trading robot) for MetaTrader 4. It increases the lot size after a losing trade (martingale), can hold buy and sell positions at the same time (hedging) and places pending buy/sell stop or limit orders. It has 7 settings, such as P1, P2 and P3. MQL source code included.
It also moves the stop loss behind price (trailing stop / break-even), trades only in the hours you set (time filter) and can size trades from your balance and risk percent.
Files in the download: ALG.mq4.
Trading robots can lose money. Check every setting and test on a demo account before using real funds.
Settings
| Setting | Default | What it does |
|---|---|---|
| P1 | This EA Version is AUTHENTICATED | |
| P2 | --- Trading Parameters --- | |
| P3 | RISK LEVEL (1=LOW recommendet, 2=MODERAT | |
| I risk level | 2 | Risk per trade (percent of balance) |
| P4 | Please use the ea only on this pairs: | |
| P5 | AUDCAD, AUDJPY, AUDNZD, AUDUSD,CADJPY, C | |
| Hedging allowed | TRUE |
How to install
- Download the ZIP from your PolyMaria library and unzip it.
- In MetaTrader 4 open File → Open Data Folder, then go to MQL4 → Experts.
- Copy the .mq4 file(s) there. Put any .mqh files in MQL4 → Include.
- Open the .mq4 file in MetaEditor and press Compile (F7) if MetaTrader does not show it.
- Drag the expert advisor from the Navigator onto a chart, check the settings, allow Algo/Auto Trading and press OK.
- Test it first on a demo account or in the Strategy Tester.
Tags: Martingale · Hedging · Pending Orders · Trailing Stop & Break-even · Time Filter · Risk & Lot Size · MT4 Expert Advisor · MQL4 Source Code