Ilan16 Pip Step Exponent MFI
This Old Kings expert advisor (trading robot) for MetaTrader 4 is called Ilan16 Pip Step Exponent MFI. 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 24 settings, for example Stoploss (default 500.0), Trail Start (default 10.0) and Trail Stop (default 10.0). 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 Ilan16 Pip Step Exponent MFI
Ilan16 Pip Step Exponent MFI 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 24 settings, such as Stoploss, Trail start and Trail stop. MQL source code included.
It also moves the stop loss behind price (trailing stop / break-even).
Files in the download: !Åα«τΓ¿.é᪡«!.txt, Ilan16_PipStepExponent_MFI.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 |
|---|---|---|
| Stoploss | 500.0 | Stop loss distance |
| Trail start | 10.0 | Trailing stop distance or switch |
| Trail stop | 10.0 | Trailing stop distance or switch |
| Lot exponent | 1.658 | . : 0.1, : 0.16, 0.26, 0.43 ... |
| Slip | 3.0 | ( ) |
| Lots | 0.1 | Trade size in lots |
| Lotdecimal | 1 | 0 - (1), 1 - (0.1), 2 - (0.01) |
| Take profit1 | 7.0 | Take profit distance |
| Take profit2 | 10 | Take profit distance |
| Kol take profit | 1 | Take profit distance |
| Pipstep | 12.0 | Distance between orders |
| Pip step exponent | 1.3 | How much the lot size grows after a loss |
| Rsi minimum | 45.0 | RSI |
| Rsi maximum | 55.0 | RSI |
| Magic number | 2233 | ( ) |
| Per mfi | 10 | |
| Nbar | 2 | |
| Max trades | 7 | Maximum number of open trades |
| Rsi per | 10 | |
| Use equity stop | FALSE | |
| Total equity risk | 20.0 | Risk per trade (percent of balance) |
| Use trailing stop | FALSE | Trailing stop distance or switch |
| Use time out | FALSE | ( "" ) |
| Max trade open hours | 48.0 | ( ) |
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: Martingale · Grid · Pending Orders · Trailing Stop & Break-even · RSI · MT4 Expert Advisor · MQL4 Source Code