Trendline Trader1
From the Old Kings archive: Trendline Trader1, an expert advisor (trading robot) for MetaTrader 4. Judging by its name, it is built around automatic trendlines. It places pending orders and can size trades from your risk. It has 7 settings, for example Allow Live Trade (default false), Stop Order TLs (default false) and Limit Order TLs (default false). 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 Trendline Trader1
Trendline Trader1 is an expert advisor (trading robot) for MetaTrader 4. It places pending buy/sell stop or limit orders and can size trades from your balance and risk percent. It has 7 settings, such as Allow live trade, Stop order t ls and Limit order t ls. MQL source code included.
Files in the download: Trendline Trader1.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 |
|---|---|---|
| Allow live trade | false | true allows orders to be placed |
| Stop order t ls | false | true allows stoporder trendlines to be plotted |
| Limit order t ls | false | true allows limitorder trendlines to be plotted |
| Lots | 0.1 | Trade size in lots |
| Maximum risk | 0.02 | Risk per trade (percent of balance) |
| Decrease factor | 3 | |
| Slippage | 3 | Maximum slippage allowed when opening a trade |
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: Trend · Pending Orders · Risk & Lot Size · MT4 Expert Advisor · MQL4 Source Code