Scalper 4
This Old Kings expert advisor (trading robot) for MetaTrader 4 is called Scalper 4. Its name points to short scalping trades. It raises the lot size after losses (martingale — high risk), works with a grid of orders and places pending orders. It has 6 settings, for example Lots (default 0.01), Lot Exponent (default 1.12) and Take Profit (default 60.0). Run it in the Strategy Tester and then on a demo account to see how it opens and closes trades. 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 Scalper 4
Scalper 4 is an expert advisor (trading robot) for MetaTrader 4. 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 6 settings, such as Lots, Lot exponent and Take profit. MQL source code included.
It also moves the stop loss behind price (trailing stop / break-even).
Files in the download: Scalper.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 | 0.01 | Trade size in lots |
| Lot exponent | 1.12 | How much the lot size grows after a loss |
| Take profit | 60.0 | Take profit distance |
| Pip step | 20.0 | Distance between orders |
| Max trades | 20 | Maximum number of open trades |
| Comment | Comment written on the orders |
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: Scalping · Martingale · Grid · Pending Orders · Trailing Stop & Break-even · MT4 Expert Advisor · MQL4 Source Code