Icwr2.mq4
This Old Kings expert advisor (trading robot) for MetaTrader 4 is called Icwr2.mq4. In the code it works with RSI. It can size trades from your risk. It has 4 settings, for example Maximum Risk (default 0.02), Decrease Factor (default 3) and Magic (default 69). 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 Icwr2.mq4
Icwr2.mq4 is an expert advisor (trading robot) for MetaTrader 4 based on RSI. It can size trades from your balance and risk percent. It has 4 settings, such as Maximum risk, Decrease factor and Magic. MQL source code included.
Files in the download: icwr2.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 |
|---|---|---|
| Maximum risk | 0.02 | %account balance to risk per position |
| Decrease factor | 3 | lot size divisor(reducer) during loss streak |
| Magic | 69 | Magic number that tells this EA's orders apart |
| Comment | m icwr | Comment written on the orders |
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: Risk & Lot Size · RSI · MT4 Expert Advisor · MQL4 Source Code