Forex 5 Minute Trendline Scalping Strategy
From the Old Kings archive: Forex 5 Minute Trendline Scalping Strategy, an expert advisor (trading robot) for MetaTrader 4. As the name suggests, the idea behind it is automatic trendlines and short scalping trades. In the code it works with moving averages. It places pending orders and has a news filter. It has 40 settings, for example Preset SL (default 40), Preset TP (default 80) and Target1 (default 5). Run it in the Strategy Tester and then on a demo account to see how it opens and closes trades. Inside: 6 indicator files 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 Forex 5 Minute Trendline Scalping Strategy
Forex 5 Minute Trendline Scalping Strategy is an expert advisor (trading robot) for MetaTrader 4 based on Moving Average. It places pending buy/sell stop or limit orders and has a news filter. It has 40 settings, such as Preset sl, Preset tp and Target1. MQL source code included.
Files in the download: Lock Profit 5 Level + ada TP + ada SL + OrderReliable.mq4, #MT TrendLine.mq4, Coral.mq4, FFCal.mq4, GannZigZag.mq4, wellxAMA.mq4, installation manual.txt, verywell scalping m5 newbie.tpl.
Trading robots can lose money. Check every setting and test on a demo account before using real funds.
Settings
| Setting | Default | What it does |
|---|---|---|
| Preset sl | 40 | |
| Preset tp | 80 | |
| Target1 | 5 | |
| Lock profit1 | 2 | |
| Target2 | 15 | |
| Lock profit2 | 5 | |
| Target3 | 25 | |
| Lock profit3 | 10 | |
| Target4 | 35 | |
| Lock profit4 | 20 | |
| Target5 | 50 | |
| Lock profit5 | 40 | |
| High period | 70 | Period or timeframe used by the calculation |
| Low period | 21 | Period or timeframe used by the calculation |
| Trigger sens | 2 | |
| Forecast high trend line | TRUE | |
| Stay lines after delete | FALSE | |
| Note0 | ***** Semafor Drawing Adjustment | |
| Draw high pivot semafor | TRUE | |
| Draw low pivot semafor | TRUE | |
| Draw lowest pivot semafor | false | |
| Note1 | ***** High Trend Lines Adjustment | |
| Htl draw | false | |
| Htl res color | Crimson | Colour on the chart |
| Htl sup color | Blue | Colour on the chart |
| Htl style | 0 | |
| Htl width | 2 | |
| Htl ext | 1.5 | |
| Htl in memory | 30 | |
| Htl min pivot different ignore | 5 | |
| Note2 | ***** Low Trend Lines Adjustment | |
| Ltl draw | false | |
| Ltl res color | FireBrick | Colour on the chart |
| Ltl sup color | Blue | Colour on the chart |
| Ltl style | 1 | |
| Ltl width | 1 | |
| Ltl ext | 1.5 | |
| Ltl in memory | 30 | |
| Ltl min pivot different ignore | 4 | |
| Note3 | ***** High Semafor Adjustment |
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 · Trend · Pending Orders · News Trading · Moving Average · MT4 Indicator · MQL4 Source Code