True Scalper Profit Lock
True Scalper Profit Lock — a MetaTrader 4 expert advisor (trading robot) kept in the Old Kings collection. As the name suggests, the idea behind it is short scalping trades. Its source code uses RSI and moving averages. It moves the stop behind price and can size trades from your risk. It has 19 settings, for example Lots (default 1.0), Take Profit (default 44) and Stop Loss (default 90). 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 · v1.0 · Free
About True Scalper Profit Lock
True Scalper Profit Lock is an expert advisor (trading robot) for MetaTrader 4 based on RSI and 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 19 settings, such as Lots, Take profit and Stop loss. MQL source code included.
Files in the download: TrueScalperProfitLock.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 | 1.0 | Trade size in lots |
| Take profit | 44 | Take profit distance |
| Stop loss | 90 | Stop loss distance |
| Rsi method a | false | |
| Rsi method b | true | |
| Rsi value | 50 | |
| Abandon method a | true | |
| Abandon method b | false | |
| Abandon | 101 | |
| Money management | true | |
| Risk | 2 | Risk per trade (percent of balance) |
| Slippage | 3 | Maximum slippage allowed when opening a trade |
| Use profit lock | true | |
| Break even trigger | 25 | Move the stop to break-even |
| Break even | 3 | Move the stop to break-even |
| Live trading | false | |
| Account is mini | false | |
| Max trades per pair | 1 | Maximum number of open trades |
| Magic number | 5432 | Magic number that tells this EA's orders apart |
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 · Trailing Stop & Break-even · Risk & Lot Size · RSI · Moving Average · MT4 Expert Advisor · MQL4 Source Code