Ilan Lite
Ilan Lite is an expert advisor (trading robot) for MetaTrader 4 from the Old Kings collection. It raises the lot size after losses (martingale — high risk) and can size trades from your risk. It has 5 settings, for example Take Profit (default 10), Start Lot (default 0.1) and Lot Exponent (default 1.5). 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 Ilan Lite
Ilan Lite is an expert advisor (trading robot) for MetaTrader 4. It increases the lot size after a losing trade (martingale) and can size trades from your balance and risk percent. It has 5 settings, such as Take profit, Start lot and Lot exponent. MQL source code included.
Files in the download: Ilan_Lite_1.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 |
|---|---|---|
| Take profit | 10 | Take profit distance |
| Start lot | 0.1 | |
| Lot exponent | 1.5 | How much the lot size grows after a loss |
| Lot step | 30 | Distance between orders |
| 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 · Risk & Lot Size · MT4 Expert Advisor · MQL4 Source Code