True Scalper V11e
This Old Kings expert advisor (trading robot) for MetaTrader 4 is called True Scalper V11e. Its name points to short scalping trades. In the code it works with RSI and moving averages. It can size trades from your risk. It has 5 settings, for example Lots (default 0.1), Take Profit (default 30) and Stop Loss (default 15). 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 · v11e · Free
About True Scalper V11e
True Scalper V11e 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. It has 5 settings, such as Lots, Take profit and Stop loss. MQL source code included.
Files in the download: TRUE_SCALPER_V11e.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 | 30 | Take profit distance |
| Stop loss | 15 | Stop loss distance |
| Slippage | 2 | Maximum slippage allowed when opening a trade |
| Profit made | 5 |
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 · RSI · Moving Average · MT4 Expert Advisor · MQL4 Source Code