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Alpinist is an MT4 expert advisor that trades eight forex pairs on the M5 chart. It opens positions from a built-in set of rule blocks and uses multistage averaging with a small take profit on each trade.
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Alpinist is an automated trading system for MetaTrader 4 that runs on eight major and cross forex pairs on the M5 timeframe. It aims to close each trade at a small take profit and manages losing entries with a multistage averaging routine.
The expert advisor contains a large library of condition blocks. Each block describes a market situation and a response to it. On every new bar the EA checks which of these responses fits the current price action on the chart and opens a position when one does. The developer describes this selection as network-like, but you should treat it as a rules-based system and judge it on your own test results.
If a position moves against you, the EA adds further orders in stages, and the lot size grows by a coefficient with each stage. The basket is then closed together when price returns to a small profit target. This approach can produce many small wins, but a strong one-way move can leave a large floating loss, so margin and lot size matter a great deal.
Because the targets are small, spread and execution quality have a direct effect on results. Use an account with tight spreads and check how your broker handles slippage.
The exact default values can differ between package versions, so check the input window after attaching the EA. The main groups of inputs are listed below.
| Input | Purpose |
|---|---|
| Start trading | Switches the EA on or off |
| TakeProfit | Profit target in points, set per pair |
| StopLoss | Optional stop loss; usually left unchanged |
| Slip | Maximum allowed slippage |
| MagicNumber | Identifies the orders opened by the EA |
| Lots | Fixed starting lot, used when Risk and DepoStep are zero |
| Risk | Percentage-based lot sizing, used when Lots is zero |
| DepoStep | Deposit step at which the lot is increased, used when Lots and Risk are zero |
| Stop by equity | Closes all EA orders at a chosen equity loss |
| Use Trailing Stop | Enables the trailing stop with its size and correction range |
Only one lot mode should be active at a time. Automatic lot increases raise risk, so start with a fixed small lot while you learn how the EA behaves.
Trading carries risk and past results do not predict future ones. Averaging systems can accumulate large floating losses in a trending market, and the account can be lost in full. Test on a demo account first and only trade with money you can afford to lose.
For several pairs, run one chart per symbol and keep the MagicNumber values distinct so the orders stay separate. Using a VPS is common for keeping the terminal connected around the clock.
| Product type | Expert Advisor |
|---|---|
| Platform | MetaTrader 4 |
| Strategy focus | Signals |
| Delivery | Download from your account after purchase |
| License key | Not needed |
| Status | Launching soon |
| Category | Expert advisor (automated trading) |
| Markets | EURUSD, EURJPY, GBPUSD, EURGBP, AUDUSD, NZDUSD, USDCHF, USDCAD |
| Timeframe | M5 |
| Trade style | Short-target scalping with multistage averaging |
| Take profit guidance | About 20 to 25 points on 4-digit quotes, depending on the pair |
| Quotes | 4-digit and 5-digit brokers |
| Requirements | Algo trading enabled, stable connection, low-spread account, high leverage |
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No. This is an MT4 expert advisor and it will not run on MetaTrader 5. If you use MT5, look for a product built for that platform.
The system is designed for eight pairs: EURUSD, EURJPY, GBPUSD, EURGBP, AUDUSD, NZDUSD, USDCHF and USDCAD. Attach it to an M5 chart for each pair you want to trade. Check the symbol names at your broker, because suffixes can differ.
Unzip the download, copy the expert file into the MQL4/Experts folder of your terminal through File > Open Data Folder, then restart MT4 or refresh the Navigator. Drag the EA onto an M5 chart and make sure Algo Trading is switched on and automated trading is allowed in the properties.
By default the strategy relies on averaging rather than a fixed stop loss. A stop loss, an equity stop and a trailing stop can be set in the inputs. Without a stop, a losing sequence can grow large, so size your deposit and lots with care.
Averaging needs plenty of free margin to survive drawdowns. The developer's guidance suggests a deposit in the thousands of dollars per pair at the 0.01 starting lot, with more for several pairs. Check the current product page and test on a demo account before using real money.
It needs a broker with low spreads, fast execution and high leverage, as the take profit targets are only a few pips. It supports both 4-digit and 5-digit quotes. Test your broker's conditions on a demo account first.
Alpinist
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