Telescop
From the Old Kings archive: Telescop, an expert advisor (trading robot) for MetaTrader 4. In the code it works with moving averages, ATR and fractals. It has a trading-hours filter and can size trades from your risk. It has 39 settings, for example Expert Name (default Telescop), Close All NOW (default FALSE) and Target Equity (default 5000000.0). 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 Telescop
Telescop is an expert advisor (trading robot) for MetaTrader 4 based on Moving Average, ATR and Fractals. It trades only in the hours you set (time filter) and can size trades from your balance and risk percent. It has 39 settings, such as Expert name, Close all now and Target equity. MQL source code included.
Files in the download: Telescop.mq4, Текстовый документ.txt.
Trading robots can lose money. Check every setting and test on a demo account before using real funds.
Settings
| Setting | Default | What it does |
|---|---|---|
| Expert name | Telescop | |
| Close all now | FALSE | |
| Target equity | 5000000.0 | |
| Open hour | 20 | |
| Close hour | 4 | |
| Lots optimized | TRUE | |
| Risk | 200 | Risk per trade (percent of balance) |
| Lots | 0.1 | Trade size in lots |
| Max lots | 100.0 | |
| TP | 4 | Take profit distance |
| SLA | 22 | |
| SLB | 32 | |
| Range op | 5 | |
| Slippage | 2 | Maximum slippage allowed when opening a trade |
| Max spread | 3.0 | Maximum spread allowed to trade |
| Time opened protection | TRUE | |
| Op from fractal | 7 | |
| Hidden tp | TRUE | |
| Hidden sl | TRUE | |
| Max trades | 4 | Maximum number of open trades |
| Max trade per bar | 1 | |
| Max trade per position | 3 | |
| Ima period | 11 | Period or timeframe used by the calculation |
| Ma angle zero period | 14 | Period or timeframe used by the calculation |
| Limit time 1 | 60 | |
| Limit time 2 | 140 | |
| Limit time 3 | 170 | |
| Limit time 4 | 200 | |
| Limit time 5 | 240 | |
| Pips 1 | 3 | |
| Pips 2 | 2 | |
| Pips 3 | 0 | |
| Pips 4 | 1 | |
| Pips 5 | 4 | |
| Created by | ||
| Need donation | Alex | |
| Bank wire | ||
| Liberty reserve |
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: Time Filter · Risk & Lot Size · Moving Average · ATR · Fractals · MT4 Expert Advisor · MQL4 Source Code