Burn V1.4
From the Old Kings archive: Burn V1.4, an expert advisor (trading robot) for MetaTrader 4. The file name marks it as version 1.4. It raises the lot size after losses (martingale — high risk), places pending orders and moves the stop behind price. It has 40 settings, for example x (default ----- 1 ------ ), Time Session1 (default 0) and Delta Price UP1 (default 27). Run it in the Strategy Tester and then on a demo account to see how it opens and closes trades. 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 · v1.4 · Free
About Burn V1.4
Burn V1.4 is an expert advisor (trading robot) for MetaTrader 4. It increases the lot size after a losing trade (martingale), places pending buy/sell stop or limit orders and moves the stop loss behind price (trailing stop / break-even). It has 40 settings, such as X, Time session1 and Delta price up1. MQL source code included.
It also can size trades from your balance and risk percent.
Files in the download: BURN_v1.4.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 |
|---|---|---|
| X | ----- 1 ------ | |
| Time session1 | 0 | |
| Delta price up1 | 27 | BuyStop |
| Delta price dn1 | 23 | SellStop |
| Take profit1 | 150 | = 0, |
| Stop loss1 | 0 | = 0, |
| Lot1 | 0.1 | |
| Slippage1 | 3 | Maximum slippage allowed when opening a trade |
| Trailing stop1 | 10 | = 0, |
| Trailing start1 | 20 | 0 |
| Delta trailing1 | 5 | - |
| Sl reverse order1 | true | SL |
| Velosity on1 | false | |
| Period velosity1 | 15 | () Velosity. 0 - . |
| Koeff martin1 | 1.5 | |
| Magic1 | 123321 | Magic number that tells this EA's orders apart |
| Xx | ----- 2 ------ | |
| Time session2 | 8 | |
| Delta price up2 | 27 | BuyStop |
| Delta price dn2 | 23 | SellStop |
| Take profit2 | 150 | = 0, |
| Stop loss2 | 0 | = 0, |
| Lot2 | 0.1 | |
| Slippage2 | 3 | Maximum slippage allowed when opening a trade |
| Trailing stop2 | 10 | = 0, |
| Trailing start2 | 20 | 0 |
| Delta trailing2 | 5 | - |
| Sl reverse order2 | true | SL |
| Velosity on2 | false | |
| Period velosity2 | 15 | () Velosity. 0 - . |
| Koeff martin2 | 1.5 | |
| Magic2 | 123322 | Magic number that tells this EA's orders apart |
| Xxx | ----- 3 ------ | |
| Time session3 | 16 | |
| Delta price up3 | 27 | BuyStop |
| Delta price dn3 | 23 | SellStop |
| Take profit3 | 150 | = 0, |
| Stop loss3 | 0 | = 0, |
| Lot3 | 0.1 | |
| Slippage3 | 3 | Maximum slippage allowed when opening a trade |
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 · Pending Orders · Trailing Stop & Break-even · Risk & Lot Size · MT4 Expert Advisor · MQL4 Source Code