Ilan 1.6
Ilan 1.6 is an expert advisor (trading robot) for MetaTrader 4 from the Old Kings collection. Its source code uses RSI. It raises the lot size after losses (martingale — high risk), works with a grid of orders and places pending orders. It has 15 settings, for example Lot Exponent (default 1.59), slip (default 3.0) and Lots (default 0.01). 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 Ilan 1.6
Ilan 1.6 is an expert advisor (trading robot) for MetaTrader 4 based on RSI. It increases the lot size after a losing trade (martingale), opens a grid of orders at fixed price steps and places pending buy/sell stop or limit orders. It has 15 settings, such as Lot exponent, Slip and Lots. MQL source code included.
It also moves the stop loss behind price (trailing stop / break-even).
Files in the download: 425_Ilan1.6_PipStep.mq4, Текстовый документ.txt.
Trading robots can lose money. Check every setting and test on a demo account before using real funds.
Settings
| Setting | Default | What it does |
|---|---|---|
| Lot exponent | 1.59 | . : 0.1, : 0.16, 0.26, 0.43 ... |
| Slip | 3.0 | ( ) |
| Lots | 0.01 | Trade size in lots |
| Lotdecimal | 2 | 0 - (1), 1 - (0.1), 2 - (0.01) |
| Take profit | 10.0 | Take profit distance |
| Pipstep | 30.0 | Distance between orders |
| Pip step exponent | 1.3 | How much the lot size grows after a loss |
| Quant | /. . TRUE- | |
| Quantum step | true | Distance between orders |
| Start step exp srting | PipStepExponent | Distance between orders |
| Start step exp | 5 | Distance between orders |
| Rsi minimum | 30.0 | RSI |
| Rsi maximum | 70.0 | RSI |
| Magic number | 2222 | ( ) |
| Max trades | 10 | Maximum number of open trades |
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: Martingale · Grid · Pending Orders · Trailing Stop & Break-even · RSI · MT4 Expert Advisor · MQL4 Source Code