Version Hedging Scalper M5 H4
This Old Kings expert advisor (trading robot) for MetaTrader 4 is called Version Hedging Scalper M5 H4. Judging by its name, it is built around hedged buy / sell positions and short scalping trades. In the code it works with the Stochastic oscillator, moving averages and Ichimoku. It can hold buy and sell positions together, moves the stop behind price and can size trades from your risk. It has 18 settings, for example Magic No1 (default 51401), Magic No2 (default 51402) and Magic No3 (default 12378). Before any live use, test it on a demo account and check its lot size, stop loss and trading hours. Inside: 5 EA files with source code (.mq4) you can open and edit in MetaEditor and 1 settings file (.set). 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 Version Hedging Scalper M5 H4
Version Hedging Scalper M5 H4 is an expert advisor (trading robot) for MetaTrader 4 based on Stochastic, Moving Average and Ichimoku. It can hold buy and sell positions at the same time (hedging), moves the stop loss behind price (trailing stop / break-even) and can size trades from your balance and risk percent. It has 18 settings, such as Magic no1, Magic no2 and Magic no3. MQL source code included.
Files in the download: HedgingScalper-XE.mq4, HS-H4-EURGBP.mq4, HS-H4-GBPUSD.mq4, HS-M5-EURGBP.mq4, HS-M5-GBPUSD.mq4, chart01.chr, chart02.chr, chart03.chr ….
Trading robots can lose money. Check every setting and test on a demo account before using real funds.
Settings
| Setting | Default | What it does |
|---|---|---|
| Magic no1 | 51401 | Magic number that tells this EA's orders apart |
| Magic no2 | 51402 | Magic number that tells this EA's orders apart |
| Magic no3 | 12378 | Magic number that tells this EA's orders apart |
| Hedging | TRUE | |
| Max trades | 1 | Maximum number of open trades |
| Auto lots | TRUE | |
| Lots | 0.01 | Trade size in lots |
| Risk | 1 | Risk per trade (percent of balance) |
| Check free margin | TRUE | |
| Take profit | 20.0 | Take profit distance |
| Stoploss | 2000.0 | Stop loss distance |
| Dist1 | 40.0 | |
| Dist2 | 40.0 | |
| Dist3 | 120.0 | |
| Dist4 | 300.0 | |
| Dist5 | 400.0 | |
| Trail sl | FALSE | Trailing stop distance or switch |
| Trail pips | 12 | Trailing stop distance or switch |
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 · Hedging · Trailing Stop & Break-even · Risk & Lot Size · Stochastic · Moving Average · Ichimoku · MT4 Expert Advisor · MQL4 Source Code