XMT Scalper V2.461 8
This Old Kings expert advisor (trading robot) for MetaTrader 4 is called XMT Scalper V2.461 8. As the name suggests, the idea behind it is short scalping trades. The file name marks it as version 2.461.8. It raises the lot size after losses (martingale — high risk), places pending orders and moves the stop behind price. It has 40 settings, for example Configuration (default ==== Configuration ====), Reverse Trade (default FALSE) and Magic (default -1). 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 · v2.461 · Free
About XMT Scalper V2.461 8
XMT Scalper V2.461 8 is an expert advisor (trading robot) for MetaTrader 4. It increases the lot size after a losing trade (martingale), places pending buy/sell stop or limit orders and moves the stop loss behind price (trailing stop / break-even). It has 40 settings, such as Configuration, Reverse trade and Magic. MQL source code included.
It also can size trades from your balance and risk percent, has a news filter and is built for short scalping trades.
Files in the download: XMT-Scalper_v2 (1).461.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 |
|---|---|---|
| Configuration | ==== Configuration ==== | |
| Reverse trade | FALSE | If TRUE, then trade in opposite direction |
| Magic | -1 | If set to a number less than 0 it will calculate MagicNumber automatically |
| Order cmt | XMT-Scalper 2.46 | Trade comments that appears in the Trade and Account History tab |
| Ecn mode | FALSE | True for brokers that don't accept SL and TP to be sent at the same time as the order |
| Debug | FALSE | Print huge log files with info, only for debugging purposes |
| Verbose | FALSE | Additional information printed in the chart |
| Trading settings | ==== Trade settings ==== | |
| Max spread | 30.0 | Max allowed spread in points (1 / 10 pip) |
| Max execution | 0 | Max allowed average execution time in ms (0 means no restrictions) |
| Max execution minutes | 5 | How often in minutes should fake orders be sent to measure execution speed |
| Stop loss | 60 | StopLoss from as many points. Default 60 (= 6 pips) |
| Take profit | 100 | TakeProfit from as many points. Default 100 (= 10 pip) |
| Add price gap | 0 | Additional price gap in points added to SL and TP in order to avoid Error 130 |
| Trailing start | 20 | Start trailing profit from as so many points. |
| Commission | 0 | Some broker accounts charge commission in USD per 1.0 lot. Commission in dollar |
| Slippage | 3 | Maximum allowed Slippage in points |
| Minimum use stop level | 0 | Minimum stop level. Stoplevel to use will be max value of either this value or broker stoplevel |
| Volatility settings | ==== Volatility Settings ==== | |
| Use dynamic volatility limit | TRUE | Calculate VolatilityLimit based on INT (spread * VolatilityMultiplier) |
| Volatility multiplier | 125 | Dynamic value, only used if UseDynamicVolatilityLimit is set to TRUE |
| Volatility limit | 180 | Fix value, only used if UseDynamicVolatilityLimit is set to FALSE |
| Use volatility percentage | TRUE | If true, then price must break out more than a specific percentage |
| Volatility percentage limit | 0 | Percentage of how much iHigh-iLow difference must differ from VolatilityLimit. 0 is risky, 60 means |
| Use indicator set | === Indicators: 1 = Moving Average, 2 = | |
| Use indicator switch | 1 | Switch User indicators. |
| Indicatorperiod | 3 | Period in bars for indicators |
| Bb deviation | 2.0 | Deviation for the iBands indicator |
| Envelopes deviation | 0.07 | Deviation for the iEnvelopes indicator |
| Order expire seconds | 3600 | Orders are deleted after so many seconds |
| Money management | ==== Money Management ==== | |
| Money management | TRUE | If TRUE then calculate lotsize automaticallay based on Risk, if False then use ManualLotsize below |
| Min lots | 0.01 | Minimum lot-size to trade with |
| Max lots | 100.0 | Maximum allowed lot-size to trade with |
| Risk | 2.0 | Risk setting in percentage, For 10.000 in Equity 10% Risk and 60 StopLoss lotsize = 16.66 |
| Manual lotsize | 0.1 | Manual lotsize to trade with if MoneyManagement above is set to FALSE |
| Min margin level | 100 | Lowest allowed Margin level for new positions to be opened. |
| Screen shooter | ==== Screen Shooter ==== | |
| Take shots | FALSE | Save screen shots on STOP orders? |
| Delay ticks | 1 | Delay so many ticks after new bar |
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 · Martingale · Pending Orders · Trailing Stop & Break-even · Risk & Lot Size · News Trading · MT4 Expert Advisor · MQL4 Source Code