Limits Martin - MetaTrader 4 Expert | Martin EA Download - MT4/MT5 Resources

The second version of the EA added the ability to select the type of trade pending orders in the Limits0_or_Stops1 parameter. If set to 0 — trade limit order, if set to 1 — stop loss order.

Trailing stop and breakeven functions have been added, which are activated if: 1) they are enabled in the EA settings; 2) the last order is either closed with profit or breaks even.

Trailing_Use=true; enables trailing stop orders (valid if the last order was profitable or broke even).

Profit Level Trailing = 100; the profit level in pips at which the trailing stop is activated when the order is reached.

Trailing Stop = 50; TrailingStop distance (in points) that the stop will track the price.

Trailing step size = 50; adjust incrementally in pips and then modify the stop loss.

Breakeven_Use=true; enables breakeven.

Profit level = 30; the order moves to a specified number of pips in profit (breakeven).

SL_Plus = 10; Set breakeven + SL_Plus order (in points).

At the default "Step" point from the market price (default is 200 points), the EA will place buy limit and sell limit orders, and specify stop loss ("SL", default is 30 points) and take profit ("TP", default is 60 points).

If the price deviates from a pending order, the EA tracks the pending order after the price with a step of "Step_Interval" points (default is 10 points).

When any pending order is triggered, the opposite pending order will be removed and no new order will be placed until the existing market order is closed. If the last order is closed with profit, subsequent limit orders will be opened with an initial lot size equal to the "Lots" parameter. If the last order is closed with a loss, or multiple consecutive orders are unprofitable, the EA will calculate the number of lots for subsequent pending orders, and close the next order through take profit to cover the previous loss (it is recommended to set the take profit to at least twice the size of the stop loss).

If MegaLot is set to true (enabled), if the previous order (a series of orders) is closed with a loss, the next order will be opened with a lot size, which means that it will be able to make up for the previous loss and earn additional deposit currency = profit points obtained from the initial lot size.

The EA limits the number of lot multiplications in the "Limit" parameter. If there is a series of consecutive losing orders whose amount exceeds or is equal to the "limit price", the lot size of subsequent orders will be set to the initial value and equal to the "lot size" parameter until an order is closed with a profit.

It is possible to disable the increase in lot size after receiving unprofitable orders by setting "Martin = false".

The EA offers the function of placing pending orders at a price equal to the opening price of the last deleted order (it is better to leave it "False").

Attachment download

📎 limits_martin.mq4 (19.23 KB)

📎 limits_martin2.mq4 (32.05 KB)

📎 limits_martin2_1.mq4 (64.49 KB)

Source: MQL5 #16031

Limits Martin - MetaTrader 4 Tips for Experts Before Using

This page has been supplemented with structured instructions, focusing on the purpose of EA source code, MQL4/MQL5 platform compatibility, testing process and risk control. Before downloading or deploying, it is recommended to first determine whether it is consistent with your own variety, cycle and account environment.

Suitable for who to use

• Users who want to quickly screen EA source code and are willing to do simulation disk verification first.
• People who need to compare MT4/MT5 EAs, indicators, scripts or source code projects.
• Traders who wish to record backtests, parameters and risk boundaries before placing a trade.

Testing and risk control suggestions

• First verify the default parameters in the strategy tester or demo account, and then adjust the symbol, period, spread and trading period one by one.
• Scalping, grid, martin, and high-frequency strategies should focus on observing maximum drawdowns, consecutive losses, slippage, and trading frequency.
• It is not recommended to run any document directly on the real disk. At least observe the simulated disk performance for 2-4 weeks first.

FAQ

Can MT4 and MT5 be used interchangeably?
Usually cannot be used directly. EX4/MQ4 corresponds to MT4, EX5/MQ5 corresponds to MT5, and the source code needs to be compiled in the corresponding MetaEditor.

Is this resource guaranteed to be profitable?
cannot. EAs, indicators and scripts can only be used as trading tools, and the results depend on parameters, market environment, spreads, slippage and risk control.

What else can I continue to watch?
Forex EA download , foreign exchange indicator download , EA evaluation , MQL5 CodeBase .

English Search Notes

This page is also optimized for English search intent around Limits Martin - MetaTrader 4 Expert . Related search terms include: MQL4 source code, MQL5 source code. Test any Forex EA, Expert Advisor, MT4/MT5 indicator, script or MQL source code with historical data and a demo account before live trading.