True Scalper V11 1.11
This Old Kings expert advisor (trading robot) for MetaTrader 4 is called True Scalper V11 1.11. Its name points to short scalping trades. The file name marks it as version 11.1.11. In the code it works with RSI and moving averages. It moves the stop behind price, can size trades from your risk and is set up for scalping. It has 15 settings, for example Lots (default 0.1), Take Profit (default 44) and Bars TSL (default 8). 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 · v11 · Free
About True Scalper V11 1.11
True Scalper V11 1.11 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), can size trades from your balance and risk percent and is built for short scalping trades. It has 15 settings, such as Lots, Take profit and Bars tsl. MQL source code included.
It also works on several symbols at once.
Files in the download: TrueScalperV11-1.11.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 | 8 | |
| Period trail | 5 | Trailing stop distance or switch |
| 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 · Trailing Stop & Break-even · Risk & Lot Size · Multi-Currency · RSI · Moving Average · MT4 Expert Advisor · MQL4 Source Code