Elder1 2
Elder1 2 is an expert advisor (trading robot) for MetaTrader 4 from the Old Kings collection. Its source code uses MACD and the Stochastic oscillator. It moves the stop behind price, has a trading-hours filter and can size trades from your risk. It has 18 settings, for example l Stop Loss (default 17), s Stop Loss (default 40) and l Trailing Stop (default 88). 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 · v1.0 · Free
About Elder1 2
Elder1 2 is an expert advisor (trading robot) for MetaTrader 4 based on MACD and Stochastic. It 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. It has 18 settings, such as L stop loss, S stop loss and L trailing stop. MQL source code included.
Files in the download: elder1.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 |
|---|---|---|
| L stop loss | 17 | Stop loss distance |
| S stop loss | 40 | Stop loss distance |
| L trailing stop | 88 | Trailing stop distance or switch |
| S trailing stop | 76 | Trailing stop distance or switch |
| Cl open buy | Blue | |
| Cl close buy | Aqua | |
| Cl open sell | Red | |
| Cl close sell | Violet | |
| Cl modi buy | Blue | |
| Cl modi sell | Red | |
| Name expert | Generate from Gordago | |
| Slippage | 5 | Maximum slippage allowed when opening a trade |
| Use hour trade | True | |
| From hour trade | 0 | |
| To hour trade | 23 | |
| Use sound | True | Turn this alert on or off |
| Name file sound | alert.wav | Turn this alert on or off |
| Lots | 0.10 | Trade size in lots |
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: Trailing Stop & Break-even · Time Filter · Risk & Lot Size · MACD · Stochastic · MT4 Expert Advisor · MQL4 Source Code