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FrankoScalp MT5

I have been developing, testing and correcting this automated scalping system for a long time: https://www.mql5.com/en/signals/author/test-standart.

Highlights to pay attention to

1. During live operation of the expert the GMT offset parameter is determined automatically based on local time of the computer (GMT_Offset_AUTO=true).

This parameter provides synchronization of the expert settings with the MetaTrader 5 server time.

To ensure the correctness of settings it is necessary:

  • to compare the GMT time in expert information area on the chart of currency pair, to which the expert is attached, with http://time.is/GMT (or other reliable source).
  • If the values do not match, then set GMT_Offset_AUTO=false and set a value of GMT_Offset_Manual according to the instructions in https://www.mql5.com/en/blogs/post/682539

2. The expert contains an archive of news (from 01/01/2015 to 06/09/2019), which is used during back-testing (if the expert parameter is set to Use_NewsFilter=true).

3. For this expert, a moderate lot size is 0.01 for 50-100 units of balance or risk per trade 1.5-3%.

You can set a trading lot depending on your preferences. I recommend using a fixed lot (Use_Fix_Lots) or a recovery money management (Use_MM_Reg_1 or Use_MM_Reg_2).

4. The expert works on any timeframe equally well, as it automatically takes the necessary data from multiple timeframes.

Back-testing is recommended on the M1 timeframe.

5. The expert writes information about the jumps of the spread to a file.

It is necessary for viewing of this information: 

  • go to MQL5/Files in the terminal folder and open the corresponding file (this action can be made in time which isn't coinciding with time of opening of transactions by the expert and when there is no open transactions of the expert);
  • after viewing, close the file (that the expert could write down information further).

For back-testing, set Record_Deals=false to speed up the test.

Main Parameters

  • ==== GMT and DST ====
  • GMT_Offset_Manual - the difference between your broker's server time and GMT.
  • GMT_Offset_AUTO - enable/disable the automatic detection of GMT Offset, using the local computer time (does not work in the strategy tester).
  • Adjust_DST_Universal - enable/disable Daylight Saving Time correction (for the tester).
  • ==== Lot and MM ====
  • Use_Fix_Lots - enable/disable fixed trading lot;
  • Use_MM - enable/disable the lot value as a percent of deposit based on StopLoss;
  • Use_MM_Reg - enable/disable recovery money management (trading lot will not decrease in case of drawdowns);
  • ==== Days without Trade ====
  • Use_Holidays_Pass - do not trade during the holidays.
  • ==== Record of deals in the file ====
  • Record_Deals - enable/disable logging of the EA operation details in a file.
  • ==== News Filter ====
  • Use_NewsFilter - use the news filter;
  • ==== Strategies select ====
  • use_select_Strategy - select strategy from 1 to 6 using optimization in the Strategy Tester.
  • ==== Common parameters ====
  • TakeProfit_Hide - virtual Take Profit hidden from a broker in points;
  • StopLoss_Hide - virtual Stop Loss hidden from a broker in points;
  • TakeProfit_Safety - Safety (real) Take Profit in points (TakeProfit_Safety has to be more TakeProfit_Hide);
  • StopLoss_Safety - Safety (real) Stop Loss in points (StopLoss_Safety has to be more StopLoss_Hide);
  • Duration_Pause_Minut_at_SL_Hide - pause duration in minutes when StopLoss_Hide is triggered;
  • Minimum_Duration_of_deal_in_seconds - minimum time of life of an open position in seconds, works at value more than 0;
  • Minimum_Pips_at_Profit - the minimum number of profit points for closing a positive transaction;
  • Close_Loss_only_by_SL - closing of negative trades only by StopLoss (virtual or real);
  • ==== TIMING ====
  • GMT_Open_Trade_Hour - hour to start opening trades, GMT;
  • GMT_Open_Trade_Minute - minute to start opening trades, GMT;
  • Period_Open_in_minute - time duration for opening trades in minutes;
  • GMT_Monday_OH - time to start opening trades on Monday;
  • GMT_Friday_CH - time to stop opening trades on Friday;

The full list of the EA parameters and sets: https://www.mql5.com/en/blogs/post/726755

peronpmt4 2019.06.06 08:30 

Excellent support from author. The prblem may be from broker

diconium 2019.05.29 14:24 

Hardly any profit after spread and commisions

Version 1.1 2019.11.19
1) Added parameter:
"Total_open_for_Buy_and_Sell" - if Total_open_for_Buy_and_Sell=false, then Total_open_transactions is applied separately for Buy transactions and Sell transactions.
If Total_open_transactions=1 and Total_open_for_Buy_and_Sell=false,
it is possible to open one BUY transaction and one SELL transaction at the same time.
If Total_open_transactions=1 and Total_open_for_Buy_and_Sell=true,
it is possible to open only one transaction.

2) The news history for the strategy tester is updated until December 31, 2019 ("NewsFilter").