True Scalper V11 1.1
True Scalper V11 1.1 is an expert advisor (trading robot) for MetaTrader 4 from the Old Kings collection. As the name suggests, the idea behind it is short scalping trades. This copy is version 11.1.1. Its source code uses RSI and moving averages. It can size trades from your risk, is set up for scalping and handles several symbols. It has 14 settings, for example Lots (default 0.1), Take Profit (default 44) and Bars TSL (default 3). 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 · v11 · Free
About True Scalper V11 1.1
True Scalper V11 1.1 is an expert advisor (trading robot) for MetaTrader 4 based on RSI and Moving Average. It can size trades from your balance and risk percent, is built for short scalping trades and works on several symbols at once. It has 14 settings, such as Lots, Take profit and Bars tsl. MQL source code included.
Files in the download: TrueScalperV11-1.1.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 | 0.1 | Trade size in lots |
| Take profit | 44 | Take profit distance |
| Bars tsl | 3 | |
| Bars tp | 13 | |
| Bars sl | 13 | |
| Bar shift | 0 | Bar shift (0 = current bar) |
| Scalp profit | 100 | |
| Stop loss | 90 | Stop loss distance |
| Rsi pos | 50 | |
| Rsi neg | 50 | |
| Slippage | 2 | Maximum slippage allowed when opening a trade |
| Abandon | 101 | |
| Maximum risk | 0.02 | Risk per trade (percent of balance) |
| Decrease factor | 3 |
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 · Risk & Lot Size · Multi-Currency · RSI · Moving Average · MT4 Expert Advisor · MQL4 Source Code