Ilan5 Mod 1 Hilo H1 RSI H1 Time False
From the Old Kings archive: Ilan5 Mod 1 Hilo H1 RSI H1 Time False, an expert advisor (trading robot) for MetaTrader 4. As the name suggests, the idea behind it is the daily high / low range and the RSI oscillator (overbought / oversold zones). The file name marks it as a modified edition. 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 Pause Min (default 1), Lot Exponent (default 1.41) 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 Ilan5 Mod 1 Hilo H1 RSI H1 Time False
Ilan5 Mod 1 Hilo H1 RSI H1 Time False 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 Pause min, Lot exponent and Slip. MQL source code included.
It also moves the stop loss behind price (trailing stop / break-even) and trades only in the hours you set (time filter).
Files in the download: Ilan5Mod_1_Hilo_H1_RSI_H1_TimeFalse.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 |
|---|---|---|
| Pause min | 1 | |
| Lot exponent | 1.41 | How much the lot size grows after a loss |
| Slip | 3.0 | |
| Lots | 3.5 | Trade size in lots |
| Lotdecimal | 2 | 0- 1 , 1- 0.1-0.9, 2- 0.01-0.09 |
| Take profit | 5.0 | Take profit distance |
| Stoploss | 500.0 | Stop loss distance |
| Trail start | 10.0 | Trailing stop distance or switch |
| Trail stop | 10.0 | Trailing stop distance or switch |
| Pip step | 8.0 | Distance between orders |
| Max trades | 10 | Maximum number of open trades |
| 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 | |
| G magic 176 | 51232 | Magic number that tells this EA's orders apart |
| Close friday | true | true, false |
| Close friday hour | 5 | |
| Time filter | true | true, false |
| Start hour | 00 | Hour when trading starts (server time) |
| End hour | 5 | Hour when trading stops (server time) |
| Start hour2 | 20 | Hour when trading starts (server time) |
| End hour2 | 24 | Hour when trading stops (server time) |
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 · Time Filter · MT4 Expert Advisor · MQL4 Source Code