Starter V7
This Old Kings expert advisor (trading robot) for MetaTrader 4 is called Starter V7. The file name marks it as version 7. In the code it works with moving averages. It places pending orders, moves the stop behind price and has a trading-hours filter. It has 19 settings, for example Debug (default 0), Account Is Mini (default 0) and Live Trading (default 0). 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 · v7 · Free
About Starter V7
Starter V7 is an expert advisor (trading robot) for MetaTrader 4 based on Moving Average. It places pending buy/sell stop or limit orders, moves the stop loss behind price (trailing stop / break-even) and trades only in the hours you set (time filter). It has 19 settings, such as Debug, Account is mini and Live trading. MQL source code included.
It also can size trades from your balance and risk percent and works on several symbols at once.
Files in the download: starter_v7.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 |
|---|---|---|
| Debug | 0 | Change to 1 to allow print |
| Account is mini | 0 | Change to 1 if trading mini account |
| Live trading | 0 | Change to 1 if trading live. |
| Riskpercent | 5 | Change to whatever percent of equity you wish to risk. |
| Decrease factor | 3 | Used to decrease lot size after a loss is experienced to protect equity. Recommended not to change. |
| Stop loss | 35 | Maximum pips willing to lose per position. |
| Trailing stop | 0 | Change to whatever number of pips you wish to trail your position with. |
| Margincutoff | 800 | Expert will stop trading if equity level decreases to that level. |
| Maxtrades | 10 | Total number of positions on all currency pairs. You can change this number as you wish. |
| Take profit | 10 | Maximum profit level achieved. |
| Slippage | 10 | Possible fix for not getting filled or closed |
| Ema period | 34 | EMAAnglePeriod |
| Angle treshold | 0.2 | |
| Start ema shift | 6 | Check last six bars |
| End ema shift | 0 | Bar shift (0 = current bar) |
| Ma period | 120 | Moving average period. |
| Ma period2 | 40 | Moving average period 2. |
| Lots | 1 | standard lot size. |
| Turnon | 1 | Turns expert on, change to 0 and no trades will take place even if expert is enabled. |
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 · Time Filter · Risk & Lot Size · Multi-Currency · Moving Average · MT4 Expert Advisor · MQL4 Source Code