Pips Trading
Pips Trading — a MetaTrader 4 expert advisor (trading robot) kept in the Old Kings collection. It places pending orders and moves the stop behind price. It has 12 settings, for example Lots (default 0.1), Take Profit (default 10) and Stop Loss (default 49). 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 Pips Trading
Pips Trading is an expert advisor (trading robot) for MetaTrader 4. It places pending buy/sell stop or limit orders and moves the stop loss behind price (trailing stop / break-even). It has 12 settings, such as Lots, Take profit and Stop loss. MQL source code included.
Files in the download: pips_trading.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 |
|---|---|---|
| Lots | 0.1 | Trade size in lots |
| Take profit | 10 | . |
| Stop loss | 49 | Stop loss distance |
| Pip to place order | 16 | |
| Pip to take trailing | 15 | Trailing stop distance or switch |
| Two orders | false | 2 |
| Floating take | false | true, IntervalLength |
| Start time | 0 | |
| End time | 24 | |
| Interval length | 60 | / ( ). , . |
| Interval width min | 15 | |
| Interval width max | 50 |
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: Pending Orders · Trailing Stop & Break-even · MT4 Expert Advisor · MQL4 Source Code