Density Scalper EA 7
Density Scalper EA 7 — a MetaTrader 4 expert advisor (trading robot) kept in the Old Kings collection. Its name points to short scalping trades. Its source code uses a price channel. It raises the lot size after losses (martingale — high risk), places pending orders and moves the stop behind price. It has 35 settings, for example indicatorstrategy (default < - - - - ), Ea Time Frame (default PERIOD_M1) and innerlimits (default < - - - - ). 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 Density Scalper EA 7
Density Scalper EA 7 is an expert advisor (trading robot) for MetaTrader 4 based on Channels & Envelopes. 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 35 settings, such as Indicatorstrategy, Ea time frame and Innerlimits. MQL source code included.
It also can size trades from your balance and risk percent.
Files in the download: DensityScalperEA.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 |
|---|---|---|
| Indicatorstrategy | < - - - - | |
| Ea time frame | PERIOD_M1 | Period or timeframe used by the calculation |
| Innerlimits | < - - - - | |
| Innerperiod | 81 | Period or timeframe used by the calculation |
| Innermethod | MODE_SMMA | |
| Innershift | 0 | Bar shift (0 = current bar) |
| Innerprice | PRICE_OPEN | |
| Innerdensity | 0.06 | |
| Innermagic | 1 | Magic number that tells this EA's orders apart |
| Outerlimits | < - - - - | |
| Outerperiod | 9 | Period or timeframe used by the calculation |
| Outermethod | MODE_SMMA | |
| Outershift | 0 | Bar shift (0 = current bar) |
| Outerprice | PRICE_OPEN | |
| Outerdensity | 0.09 | |
| Outermagic | 2 | Magic number that tells this EA's orders apart |
| Moneymanagement | < - - - - | |
| Retries | 10 | |
| Slippage | 40 | Maximum slippage allowed when opening a trade |
| Spreadlimit | 25 | Maximum spread allowed to trade |
| Marketorders | TRUE | |
| Limitorders | TRUE | |
| Limitquantity | 40 | |
| Limitbuffer | 20 | |
| Lotoption | EquitySplit | |
| Lotsize | 0.01 | Trade size in lots |
| Percentofbalance | 0.45 | |
| Percentofequity | 1.67 | |
| Miscellaneous | <-- -- -- -- | |
| Do signal lines | FALSE | |
| Do signal prices | FALSE | |
| Inner dn | Aqua | |
| Outer dn | Blue | |
| Inner up | Gold | |
| Outer up | Red |
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: Scalping · Martingale · Pending Orders · Trailing Stop & Break-even · Risk & Lot Size · Channels & Envelopes · MT4 Expert Advisor · MQL4 Source Code