Ilan1.6 Pip Step Off Series
From the Old Kings archive: Ilan1.6 Pip Step Off Series, an expert advisor (trading robot) for MetaTrader 4. 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 16 settings, for example New Series (default true), Lot Exponent (default 2.0) and slip (default 3.0). 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 Ilan1.6 Pip Step Off Series
Ilan1.6 Pip Step Off Series 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 16 settings, such as New series, Lot exponent and Slip. MQL source code included.
It also moves the stop loss behind price (trailing stop / break-even) and has a news filter.
Files in the download: Ilan1.6_PipStep_off_Series.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 |
|---|---|---|
| New series | true | |
| Lot exponent | 2.0 | How much the lot size grows after a loss |
| Slip | 3.0 | |
| Lots | 0.01 | Trade size in lots |
| Lotdecimal | 2 | |
| Take profit | 15.0 | Take profit distance |
| Pipstep | 80.0 | Distance between orders |
| Pip step exponent | 2.0 | 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 maximum | 70.0 | |
| Magic number | 2222 | Magic number that tells this EA's orders apart |
| 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 · News Trading · RSI · MT4 Expert Advisor · MQL4 Source Code