Overlay Positive Hedging V1a
This Old Kings expert advisor (trading robot) for MetaTrader 4 is called Overlay Positive Hedging V1a. Judging by its name, it is built around hedged buy / sell positions. It has 20 settings, for example Basic Setting (default ----------------- Basic ), Lot (default 0.1) and Layer Distance (default 100). 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 · v1a · Free
About Overlay Positive Hedging V1a
Overlay Positive Hedging V1a is an expert advisor (trading robot) for MetaTrader 4. It has 20 settings, such as Basic setting, Lot and Layer distance. MQL source code included.
Files in the download: Overlay Positive Hedging v1a_.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 |
|---|---|---|
| Basic setting | ----------------- Basic Setting -------- | |
| Lot | 0.1 | Trade size in lots |
| Layer distance | 100 | Distance between orders |
| Use take profit by pip | TRUE | Take profit distance |
| Take profit | 80 | Take profit distance |
| Use take profit by usd | FALSE | Take profit distance |
| Take profit in usd | 100.0 | Take profit distance |
| Maximum layer | 5 | |
| Pair setting | ----------------- Pairs Setting -------- | |
| Pair1 | GBPUSD | |
| Pair2 | EURUSD | |
| Note1 | Couple 1: Buy Pair1 Sell Pair2 | |
| Note2 | Couple 2: Sell Pair1 Buy Pair2 | |
| Trade couple1 | TRUE | |
| Trade couple2 | FALSE | |
| Adr setting | ------------------ ADR Setting --------- | |
| Adr day | 365 | |
| Use manual adr ratio | TRUE | |
| Adr ratio | 0.8 | |
| Magic no | 90000 | Magic number that tells this EA's orders apart |
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: Hedging · MT4 Expert Advisor · MQL4 Source Code