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An MT4 scalping expert advisor that uses RSI and Williams Percent Range thresholds to open trades, with an optional series of added positions to work back to breakeven. It is built mainly for EURUSD on M5.
Get one message the moment it launches, with its price.
AutoTrade is an expert advisor for MetaTrader 4 that scalps the market using two oscillators, RSI and Larry Williams' Percent Range (WPR). It can also add further positions in a series, which is the part of the design you should understand before running it.
The expert advisor looks at RSI and WPR together. Each indicator has an upper and a lower threshold that you can edit, and a trade is opened only when the readings meet the conditions set by those levels. Moving the thresholds changes how selective the filter is: tighter values remove more signals, and if they are set too tightly the expert advisor may rarely or never trade. Looser values let more trades through, including weaker ones.
Each position has a fixed take profit measured in pips. If price moves against a position by the PipStep distance, and the series is enabled, the expert advisor can open another order with a larger lot. The lot growth is controlled by a multiplier (LotExponent), and the aim is to bring the whole series back to breakeven on a smaller reversal. The number of orders in the series is capped by MaxTrades.
Increasing lot size while a position is losing raises exposure quickly. A long adverse move can cause a loss far larger than a single winning trade. If you prefer to avoid this, set UseAdd to false or MaxTrades to 1 and trade single positions only.
The author's preferred setup is EURUSD on M5. M1 is suggested for a more aggressive approach, with more trades and more exposure to spread and noise. Other pairs are not described, so treat them as experimental and test them first.
As with any scalping system, spread matters a lot. A broker with a low spread leaves more room within a small take profit, and it also allows a smaller PipStep without raising costs unreasonably.
The inputs below are the ones the author lists, with their default values. Confirm them in the input window after attaching the expert advisor.
| Parameter | Default | Purpose |
|---|---|---|
| Lots | 0.01 | Starting lot size |
| LotsDigits | 2 | Lot rounding: 2 for micro lots, 1 for mini lots, 0 for whole lots |
| LotExponent | 1.5 | Lot multiplier for each added trade |
| TakeProfit | 18 | Profit target in pips |
| PipStep | 30 | Loss distance in pips before the next order in the series |
| MaxTrades | 3 | Maximum open trades in a series |
| UseAdd | true | Enables added orders in the series |
| UseClose | false | Closes at a loss of PipStep; the author recommends false |
| UseTrailingStop | false | Optional trailing stop |
| UseTimeOut / MaxTradeOpenHours | false / 48 | Optional time limit on open trades |
| iWPR_high / iWPR_low | -30 / -70 | WPR thresholds |
| irsi_high / irsi_low | 70 / 30 | RSI thresholds |
| slip | 3 | Allowed slippage in pips |
Trading carries risk, and past results do not predict future ones. Any monthly return mentioned by the author is not a forecast. Series-based lot scaling can produce large drawdowns. Test on a demo account first and use only money you can afford to lose.
Before using real funds, run the Strategy Tester and a demo account on your own broker, so you can see how spread, slippage and the trade series behave with your conditions.
| Product type | Expert Advisor |
|---|---|
| Platform | MetaTrader 4 |
| Strategy focus | Scalping, Momentum |
| Delivery | Download from your account after purchase |
| License key | Not needed |
| Status | Launching soon |
| Category | Expert advisor |
| Trade style | Scalping, momentum entries with an optional averaging series |
| Main market | EURUSD (the author's preferred pair) |
| Timeframes | M5 as the base; M1 for a more aggressive profile |
| Indicators used | RSI and Larry Williams' Percent Range |
| Account needs | Low-spread account; micro lots supported (0.01 step) |
| Deposit | Not stated; test and size the balance for your own risk |
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No. It is built for MetaTrader 4 and will not load in MetaTrader 5. Make sure your account and terminal are MT4 before you buy.
The author points to EURUSD on M5 as the setup it was tuned for, with M1 as a riskier option. Other symbols are possible, but you would need to test them yourself and may need to change the pip distances and indicator levels.
Set UseAdd to false, or set MaxTrades to 1. The expert advisor will then open single positions with no additional orders in the series.
Fewer signals pass, and with extreme values the expert advisor may stop opening trades at all. Looser values give more trades, including more losing ones. Test any change in the Strategy Tester before using it live.
Choose one with a low spread and reliable execution, as with any scalping system. Wide spreads eat into the small take profit. Check slippage, stop level and whether scalping is permitted on your account.
No. The name reflects the author's own claim and is not a forecast. Trading carries risk, and past results do not predict future ones.
AutoTrade 10 percent per month
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