Scalp Strategy Builder for MT5 is a flexible MT-5 Expert Advisor that can be configured for different scalp trading systems.
This EA is an open toolbox that allows transparent development, testing and automated execution of market-specific trading strategies.
Link to Expert Advisor: https://www.mql5.com/de/market/product/91995
Parameters:
Money Management:
| Parameter | Description | Range |
| Lot size | Lot size for entry trade | Depends on broker and account balance |
| Volume Mode | Method for setting the trade volume | · Fixed Lot Size · Dynamic lot sizing according to risk and stop loss settings |
| Risk per trade | Define maximum allowed risk per trade | >0 |
| Trading Mode | Allowed Trading modes.
| · Buy only · Sell only · Buy or Sell
|
| Maximum Spread | Trades only opened if spread equal to or bellow this setting | >=0 |
Comment: In case of dynamic lot sizing the minimal and maximal lot sizes will automatically be considered set according to broker policy.
Trading Rules Prop Trading:
| Parameter | Description | Range |
| Daily limits | Activate the daily drawdown checks for compliance to Prop trading rules | Deactivate Daily Baseline at reset time Trailing max w/o daily reset |
| Equity Drawdown | Activate Monitoring on Equity | True / False |
| Balance Drawdown | Activate Monitoring on Balance | True / False |
| Drawdown limits | Allowed daily % drawdown | >0 |
| Reset hour | Time for resetting the daily limits according to prop trading rules | 0-23 |
| Limit Lot size | Activate Lot size limitation | True / False |
| Lot size | Allowed max. lot size according to prop trading rules | >0 |
| News Filter | Activate the new filter | True / False |
| Close Trades | Close open trades before news events | True / False |
| News Priority | All news events with priority equal or larger will be considered | 0=Holiday 1=Low 2=Medium 3=High |
| Stop before | Minutes before News to stop trading | 0-59 |
| Stop after | Minutes after News to stop trading | 0-59 |
| Check Profit target | Stops trading if profit target is reached | True / False |
| Profit target | Profit Target in account currency | >Account Ballance |
Comments:
In case of dynamic lot sizing, the drawdown limit considers the actual drawdown + the risk of a new trade. If the total exceeds the drawdown limit, trading is deactivated for the rest of the day.
The news is considered as shown in the Meta trader 5 Calendar
Trade Entry:
| Parameter | Description | Range |
| Candle Mode | Select if candles are used as entry signal or as a check signal to confirm a break of support or resistance | 0=Candles generate entry signal 1=Candles for re-check of resistance break |
| Hammer Pattern | Single candlestick pattern | True / False |
| Pin Up/Down Pattern | Single candlestick pattern | True / False |
| Force Pattern | Single candlestick pattern | True / False |
| Engulfing Pattern | Multiple candlestick pattern | True / False |
| Pivot Reversal Pattern | Multiple candlestick pattern | True / False |
| Dark Cloud / Dojistar Pattern | Multiple candlestick pattern | True / False |
| Divergence Pattern | Price movement pattern | True / False |
| Volume Signal | Volume change pattern | True / False |
Comment: Multiple entry patterns can be configured in parallel. If one of the patterns applies entry is triggered for the mode as entry signal. in case of configuration as re-check of resistance break, entry is checked against a counter signal from the activated candles.
Trade Exit:
| Parameter | Description | Range |
| Take Profit Points | Closes trade if profit points are reached | >0 |
| Stop Loss Points | Closs trade if loss points are reached | >0 |
| Trailing Stop | Activate / Deactivate trailing stop | True / False |
| Trailing Stop Trigger Points | Points in profit to activate trailing stop | >=0 |
| Trailing Stop Points | Trailing stop distance | >0 |
Entry by break of Support/ Resistance levels:
| Parameter | Description | Range |
| Support / Resistance Levels | Support and resistance levels | True / False |
| Buy Level | Algorithm detects buy levels | True / False |
| Sell Level | Algorithm detects sell levels | True / False |
| Timeframe | Timeframe for level detection | All supported time frames. |
| Strength | Strength of the level detection | >20% |
| Offset | Offset of the level in points | >=0 |
Trend Checking:
| Parameter | Description | Range |
| Trend Check Trade on Entry | Activate additional trend check logic to open trades | True / False |
| Time Frame for Trend Check | Time frame for trend check. | All supported time frames. Should be equal or higher than EA time frame |
| Slow Moving Average Period | Slow moving average period in bars | >0 and > Fast MA period |
| Fast Moving Average Period | Fast moving average period in bars | >0 and < Slow MA period |
Comment: The fast- and slow-moving averages are used to detect the trend. The trend also has an impact on the multi-bar candle patterns.
Volume Signal Parameter:
| Parameter | Description | Range |
| Time Frame | Time frame for volume change signal | All supported time frames. Should be equal or higher than EA time frame |
| Period | Volume averaging period | >=1 |
Trading hours:
| Parameter | Description | Range |
| Activate time range | Activates restricted trading hours | True / False |
| Trading Start Hour | Time setting for active trading window | 1-23 |
| Trading Start Minute | Time setting for active trading window | 1-59 |
| Trading End Hour | Time setting for active trading window | 1-23 |
| Trading End Minute | Time setting for active trading window | 1-59 |
General:
| Parameter | Description | Range |
| Magic | Set Magic Number for this EA | Use different Magic numbers in case EA is used on different symbols on the same account |
| Order Comment | Set Order Comment | Select pre-defined comments of enter in free text field |
| Free Comment | Enter a free text for order comment | Comment limited to 32 characters |
| Display trade statistics | Activates comment section on the chart | True / False |
| Display patterns in chart | Activates display of identified patterns on the chart | True / False |
| Display color | Color for pattern display | Selction Box |
Application Example 1:
Level trading scalping setup in EURUSD, daily limits activated for compliance to Prop trading rules considering a daily drawdown limit of not more than 5%.
Approach: Constant risk per trade of 2%, Trade Entry on passing resistance level, active trailing stop, daily drawdown limitation
EA-Configuration:
- Symbols EURUSD
- Time Frame M15
- Lot Size Method: Dynamic
- Risk per Trade: 2%
- Account Deposit 1000 $
- Trade Entry Pattern: Support & Resistance Level
- Buy & Sell Level: activated
- Time frame level detection: 1 Hour
- Level Strength: 100%
- Offset: 0
- Take Profit Points: 200
- Stop Loss Points: 200
- Trailing Stop: Active
- Trailing Stop Trigger Points: 30
- Trailing Stop points: 10
- Back Testing 01.01.2022 – 31.12.2022
Backtesting with the same paramters as Application Example 1: 01.01.2012-31.12.2022
