Ilan16c Pip Step Exponent MFI Lock SL
Ilan16c Pip Step Exponent MFI Lock SL 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 30 settings, for example New Bar Open (default TRUE), Buy (default TRUE) and Sell (default TRUE). 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 Ilan16c Pip Step Exponent MFI Lock SL
Ilan16c Pip Step Exponent MFI Lock SL 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 30 settings, such as New bar open, Buy and Sell. MQL source code included.
It also moves the stop loss behind price (trailing stop / break-even) and can size trades from your balance and risk percent.
Files in the download: Ilan16c_PipStepExponent_MFI_lockSL.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 bar open | TRUE | |
| Buy | TRUE | FALSE , () - |
| Sell | TRUE | FALSE , () - |
| Lot exponent | 1.8 | . : 0.1, : 0.16, 0.26, 0.43 ... |
| Lock exp | 1.8 | |
| Slip | 3.0 | ( ) |
| Lots | 0.1 | Trade size in lots |
| Lotdecimal | 2 | 0 - (1), 1 - (0.1), 2 - (0.01) |
| Take profit1 | 10.0 | Take profit distance |
| Take profit2 | 4 | , |
| Pipstep | 12.0 | Distance between orders |
| Pip step exponent | 1.3 | How much the lot size grows after a loss |
| Max trades | 5 | Maximum number of open trades |
| Magic number | 2233 | ( ) |
| Sl | 30 | Stop loss distance |
| Lock | true | |
| Tral level | 50 | |
| Per mfi | 4 | |
| Rsi per | 16 | |
| Rsi minimum | 50.0 | |
| Rsi maximum | 50.0 | / |
| Use equity stop | FALSE | |
| Total equity risk | 20.0 | Risk per trade (percent of balance) |
| Use trailing stop | FALSE | Trailing stop distance or switch |
| Trail start | 30.0 | Trailing stop distance or switch |
| Trail stop | 20.0 | Trailing stop distance or switch |
| Use time out | FALSE | ( "" ) |
| Max trade open hours | 48.0 | ( ) |
| Reinvest | 0 | , Reinvest = 0 |
| Ea name | Ilan1.6 |
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 · Risk & Lot Size · RSI · MT4 Expert Advisor · MQL4 Source Code