Burn V20
This Old Kings expert advisor (trading robot) for MetaTrader 4 is called Burn V20. The file name marks it as version 20. 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 1) and Delta Price UP1 (default 15.0). 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 · v20 · Free
About Burn V20
Burn V20 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 trades only in the hours you set (time filter) and can size trades from your balance and risk percent.
Files in the download: BURN_v20.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 | 1 | |
| Delta price up1 | 15.0 | |
| Delta price dn1 | 15.0 | |
| Take profit1 | 12.0 | Take profit distance |
| Stop loss1 | 4000 | Stop loss distance |
| Lot1 | 0.1 | |
| Slippage1 | 3 | Maximum slippage allowed when opening a trade |
| Trailing stop1 | 10 | Trailing stop distance or switch |
| Trailing start1 | 20 | Trailing stop distance or switch |
| Delta trailing1 | 5 | Trailing stop distance or switch |
| Sl reverse order1 | FALSE | |
| Velosity on1 | FALSE | |
| Period velosity1 | 15 | Number of bars in the calculation |
| Koeff martin1 | 1.5 | |
| Magic1 | 1 | Magic number that tells this EA's orders apart |
| Xx | ----- 2 ------ | |
| Time session2 | 2 | |
| Delta price up2 | 15.0 | |
| Delta price dn2 | 15.0 | |
| Take profit2 | 12.0 | Take profit distance |
| Stop loss2 | 4000 | Stop loss distance |
| Lot2 | 0.1 | |
| Slippage2 | 3 | Maximum slippage allowed when opening a trade |
| Trailing stop2 | 10 | Trailing stop distance or switch |
| Trailing start2 | 20 | Trailing stop distance or switch |
| Delta trailing2 | 5 | Trailing stop distance or switch |
| Sl reverse order2 | FALSE | |
| Velosity on2 | FALSE | |
| Period velosity2 | 15 | Number of bars in the calculation |
| Koeff martin2 | 1.5 | |
| Magic2 | 2 | Magic number that tells this EA's orders apart |
| Xxx | ----- 3 ------ | |
| Time session3 | 3 | |
| Delta price up3 | 15.0 | |
| Delta price dn3 | 15.0 | |
| Take profit3 | 12.0 | Take profit distance |
| Stop loss3 | 4000 | Stop loss distance |
| 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 · Time Filter · Risk & Lot Size · MT4 Expert Advisor · MQL4 Source Code