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King Scalper is an MT4 expert advisor that uses Zigzag swing points to draw trend lines automatically and opens buy or sell trades when price reaches them. It has a trading-hours filter, break-even, trailing stop and optional automatic lot sizing.
Get one message the moment it launches, with its price.
King Scalper is an expert advisor for MetaTrader 4 that builds its own trend lines from Zigzag swing points and trades when price returns to them. It is aimed at short-term trading on H1 charts of forex pairs and gold.
The EA reads the Zigzag indicator to find recent swing highs and lows, which act as support and resistance. From these points it draws trend lines on the chart. As new swings form, the lines are updated automatically, so you do not need to maintain them by hand.
When price touches one of these lines, the EA decides whether to open a buy or a sell, depending on the market situation at that moment. Each trade has a take profit and stop loss, and can be managed further with break-even and trailing stop functions.
The recommended chart is H1. The author gives reference settings for GBPUSD, EURUSD and XAUUSD, and says the defaults are tuned for GBPUSD. Because gold is quoted on a different price scale, its distances are much larger than those for forex pairs. Check how your broker quotes points and digits before copying any values.
The inputs cover trade handling, risk and timing:
| Input | Purpose |
|---|---|
| Slippage, MaxSpread | Limits on execution slippage and the spread allowed when opening trades |
| MAGIC | Magic number that identifies the EA's orders |
| Lots, Auto Lots, Risk | Fixed lot size, or automatic sizing based on a risk amount of the deposit |
| Take Profit, Stop Loss | Exit distances in pips |
| Breakeven Start, Breakeven LockProfit | When to move the stop towards entry and how far from the open price to place it |
| Trailing Stop, Trailing Step | When trailing begins and how far the stop follows price |
| StopLoss In Money, TakeProfit In Money | Optional exits expressed in account currency |
| StartHour, EndHour | Daily trading window in server time |
There is also an Optimizer value that the EA stores when it is removed from a chart. Leave it alone unless you know why you are changing it.
Trading carries risk, and you can lose some or all of your deposit. Past results, including any backtest, do not predict future ones. Test on a demo account first.
Remember to convert the trading window to your broker's server time, since server clocks differ between brokers.
| Product type | Expert Advisor |
|---|---|
| Platform | MetaTrader 4 (expert advisor, .ex4) |
| Strategy focus | Gold or XAUUSD, Scalping, Trend, Support and resistance |
| Delivery | Download from your account after purchase |
| License key | Not needed |
| Status | Launching soon |
| Category | Expert advisor |
| Markets | Forex majors such as GBPUSD and EURUSD, and gold (XAUUSD) |
| Timeframe | H1 recommended |
| Trade style | Scalping on trend lines and support and resistance |
| Entry logic | Zigzag swing points, automatic trend lines |
| Account type | Low-spread ECN account suggested |
| Other requirements | Algo trading enabled; a VPS with low latency is advised |
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No. This is an MT4 expert advisor and will only run in MetaTrader 4. It cannot be loaded in MetaTrader 5.
The author recommends the H1 chart and lists GBPUSD, EURUSD and XAUUSD as reference symbols. Defaults are tuned for GBPUSD. Gold needs much larger point-based values for take profit, stop loss, break-even and trailing, so do not reuse forex settings on it without adjusting them.
Use the StartHour and EndHour inputs, which follow your broker's server time. The author's example window is 07:00 to 19:00 GMT+3, so convert it to your broker's server clock before you apply it.
A low-spread ECN account is suggested, together with a reliable VPS. The author mentions a deposit of about 100 USD with a 0.01 minimum lot, but you should check your own broker's contract size, leverage and margin requirements and test first on a demo account.
Copy the downloaded expert advisor file into the MQL4/Experts folder through File, Open Data Folder in MT4. Restart the terminal or refresh the Navigator, drag the EA onto an H1 chart and make sure algo trading is enabled.
It is safer to run it first in the Strategy Tester and on a demo account with your own broker's spreads and server time. Trading carries risk, and past results do not predict future ones.
King Scalper
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