Forex Pip Nailer Trading Strategy
From the Old Kings archive: Forex Pip Nailer Trading Strategy, an expert advisor (trading robot) for MetaTrader 4. In the code it works with Parabolic SAR and Momentum. It places pending orders, moves the stop behind price and can size trades from your risk. It has 21 settings, for example Risk Percent (default 0.02), Lots (default 1) and Maximum Risk (default 0.01). Run it in the Strategy Tester and then on a demo account to see how it opens and closes trades. Inside: 4 EA 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 Pip Nailer Trading Strategy
Forex Pip Nailer Trading Strategy is an expert advisor (trading robot) for MetaTrader 4 based on Parabolic SAR and Momentum. It places pending buy/sell stop or limit orders, moves the stop loss behind price (trailing stop / break-even) and can size trades from your balance and risk percent. It has 21 settings, such as Risk percent, Lots and Maximum risk. MQL source code included.
It also works on several symbols at once.
Files in the download: installation manual.txt, painted pip nailer.mq4, Pip Nailer - Flying Fish.mq4, pip nailer.mq4, PipNailer.mq4, pip_nailer.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 |
|---|---|---|
| Risk percent | 0.02 | Risk per trade (percent of balance) |
| Lots | 1 | Trade size in lots |
| Maximum risk | 0.01 | Risk per trade (percent of balance) |
| Decrease factor | 0 | |
| MM | true | |
| Account is micro | false | |
| Maximumlots | 5 | |
| Maxlongorders | 1 | |
| Maxshortorders | 1 | |
| Stop loss | 80.0 | Stop loss distance |
| Profit target | 200.0 | |
| Trailing stop | 60.0 | Trailing stop distance or switch |
| Slippage | 2 | Maximum slippage allowed when opening a trade |
| Time specific | true | |
| Magic number | 0 | Magic number that tells this EA's orders apart |
| Signal mail | False | |
| Each tick mode | False | |
| Use stop loss | True | Stop loss distance |
| Use take profit | False | Take profit distance |
| Take profit | 60 | Take profit distance |
| Use trailing stop | False | Trailing stop distance or switch |
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: Pending Orders · Trailing Stop & Break-even · Risk & Lot Size · Multi-Currency · Parabolic SAR · Momentum · MT4 Expert Advisor · MQL4 Source Code