The Reversal Bar
This Old Kings expert advisor (trading robot) for MetaTrader 4 is called The Reversal Bar. As the name suggests, the idea behind it is reversals against the current move. In the code it works with moving averages. It moves the stop behind price and can size trades from your risk. It has 6 settings, for example Lots (default 0.01), Stop Loss (default 0.00) and Take Profit (default 40.00). 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 The Reversal Bar
The Reversal Bar is an expert advisor (trading robot) for MetaTrader 4 based on Moving Average. It moves the stop loss behind price (trailing stop / break-even) and can size trades from your balance and risk percent. It has 6 settings, such as Lots, Stop loss and Take profit. MQL source code included.
Files in the download: The Reversal Bar.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 |
| Stop loss | 0.00 | Stop loss distance |
| Take profit | 40.00 | Take profit distance |
| Trailing stop | 0.00 | Trailing stop distance or switch |
| Slippage | 2 | Maximum slippage allowed when opening a trade |
| Ma trend period | 60 | Period or timeframe used by the calculation |
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: Trailing Stop & Break-even · Risk & Lot Size · Moving Average · MT4 Expert Advisor · MQL4 Source Code