Salongo
Salongo — a MetaTrader 4 expert advisor (trading robot) kept in the Old Kings collection. Its source code uses the Stochastic oscillator. 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 INFO (default SALONGO ), OWN (default salongo Copyright) and Contact Me. 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 Salongo
Salongo is an expert advisor (trading robot) for MetaTrader 4 based on Stochastic. 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 INFO, OWN and Contact me. MQL source code included.
It also trades only in the hours you set (time filter) and can size trades from your balance and risk percent.
Files in the download: SALONGO.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 |
|---|---|---|
| INFO | SALONGO | |
| OWN | salongo Copyright | |
| Contact me | ||
| TS | --TRADE SETTING-- | |
| Lots | 0.01 | Trade size in lots |
| Take profit | 150 | Take profit distance |
| Multiplier | 1.5 | How much the lot size grows after a loss |
| Max trades | 5 | Maximum number of open trades |
| Pip step | 150 | Distance between orders |
| Use modify take profit | false | Take profit distance |
| Stop trading setting | ----------- STOP TRADING SETTINGS ----- | |
| Notes1 | -------- Take Profit by Equity -------- | |
| Stop trade after profit reach | false | |
| Initial equity | 10000 | |
| Use profit target in percent | true | |
| Stop profit in percent | 10 | |
| Use equity target in usd | false | |
| Stop equity target in usd | 11000 | |
| Notes2 | -------- Stop Loss Limit by Equity ---- | |
| Stop trade after loss reach | false | |
| Use stop loss in percent | false | Stop loss distance |
| Stop loss in percent | 50 | Stop loss distance |
| Use equity loss in usd | false | |
| Stop equity loss in usd | 5000 |
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 · Time Filter · Risk & Lot Size · Stochastic · MT4 Expert Advisor · MQL4 Source Code