Ilan RSI
This Old Kings expert advisor (trading robot) for MetaTrader 4 is called Ilan RSI. As the name suggests, the idea behind it is the RSI oscillator (overbought / oversold zones). In the code it works with RSI. It raises the lot size after losses (martingale — high risk), works with a grid of orders and places pending orders. It has 7 settings, for example Lot Exponent (default 3.37), Lots (default 0.1) and lotdecimal (default 1). Before any live use, test it on a demo account and check its lot size, stop loss and trading hours. 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 RSI
Ilan RSI 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 7 settings, such as Lot exponent, Lots and Lotdecimal. MQL source code included.
It also moves the stop loss behind price (trailing stop / break-even).
Files in the download: !Åα«τΓ¿.é᪡«!.txt, Ilan_RSI.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 |
|---|---|---|
| Lot exponent | 3.37 | . 0.1, : 0.15, 0.26, 0.43 ... |
| Lots | 0.1 | 0.01 0.1 0.16 |
| Lotdecimal | 1 | 2 - 0.01, 1 - 0.1, 0 - 1.0 |
| Take profit | 10.0 | Take profit distance |
| Pip step | 30.0 | Distance between orders |
| Magic number | 54321 | Magic number that tells this EA's orders apart |
| Slip | 30.0 |
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: RSI · Martingale · Grid · Pending Orders · Trailing Stop & Break-even · MT4 Expert Advisor · MQL4 Source Code