Karl
This Old Kings expert advisor (trading robot) for MetaTrader 4 is called Karl. In the code it works with MACD. It moves the stop behind price, can size trades from your risk and has a news filter. It has 40 settings, for example ATRPeriod (default 10), Number Of Days (default 50) and period Begin (default 06:00). Before any live use, test it on a demo account and check its lot size, stop loss and trading hours. Inside: 63 indicator files with source code (.mq4) you can open and edit in MetaEditor and a PDF guide. 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 Karl
Karl is an expert advisor (trading robot) for MetaTrader 4 based on MACD. It moves the stop loss behind price (trailing stop / break-even), can size trades from your balance and risk percent and has a news filter. It has 40 settings, such as Atr period, Number of days and Period begin. MQL source code included.
It also trades breakouts and works on several symbols at once.
Files in the download: 100pipsdailyscalper4.ex4, 100pipsdailyscalper5.ex4, 100pipsfxgainer4.ex4, 100pipsfxgainer5.ex4, ama.ex4, atr_levels.mq4, autofibophenomenon.ex4, autofibophenomenon.tpl ….
Trading robots can lose money. Check every setting and test on a demo account before using real funds.
Settings
| Setting | Default | What it does |
|---|---|---|
| Atr period | 10 | Period or timeframe used by the calculation |
| Number of days | 50 | |
| Period begin | 06:00 | Hour when trading starts (server time) |
| Period end | 08:00 | Number of bars in the calculation |
| Box end | 20:00 | |
| Box break out offset | 5 | |
| Box hl color | Navy | Colour on the chart |
| Box break out color | RoyalBlue | Colour on the chart |
| Box period color | OrangeRed | Number of bars in the calculation |
| Num bars | 500 | |
| DAYS | 5 | |
| Step | 0.02 | Distance between orders |
| Maximum | 0.2 | |
| Signal period | 12 | Period or timeframe used by the calculation |
| Arrow period | 2 | Period or timeframe used by the calculation |
| Sl pips | 100 | Stop loss distance |
| Alert on | TRUE | Turn this alert on or off |
| TRUE | Turn this alert on or off | |
| Viscosity | 7 | |
| Sedimentation | 50 | |
| Threshold level | 1.1 | |
| Lag supressor | true | |
| Alerts on | false | Line added. Default is true. |
| Ad xperiod1 | 10 | Number of bars in the calculation |
| Ad xperiod2 | 14 | Number of bars in the calculation |
| Ad xperiod3 | 20 | Number of bars in the calculation |
| Faster ma | 5 | |
| Faster mode | 1 | 0 = sma, 1 = ema, 2 = smma, 3 = lwma |
| Medium ma | 10 | |
| Medium mode | 1 | 0 = sma, 1 = ema, 2 = smma, 3 = lwma |
| Slower ma | 34 | |
| Slower mode | 1 | 0 = sma, 1 = ema, 2 = smma, 3 = lwma |
| Faster ema | 5 | |
| Slower ema | 6 | |
| General settings | ===== General Settings ================= | |
| Phoenix mode | 3 | |
| Lots | 1 | Trade size in lots |
| Maximum risk | 0.05 | Risk per trade (percent of balance) |
| Decrease factor | 0 | |
| MM | true |
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: Trailing Stop & Break-even · Risk & Lot Size · News Trading · Breakout · Multi-Currency · MACD · MT4 Indicator · MQL4 Source Code