Scalping Scale in

The "Scalping Scale in" is a utility tool designed for scalpers who want to scale in an initial position at fixed distances without worrying about the S/L and T/P placement, because every second counts when scalping.

How it works:
You set your desired values in the inputs tab of the EA, and more specifically what Risk-to-Reward you want the T/P to be placed, how wide you want your S/L (in pips) - which also is the distance of the next next stop order (scale in position). You manually click Buy/Sell on the MT5, and the EA automatically puts the SL and TP, while setting a new stop order to the same direction at distance equal to the SL in pips (i.e. if you buy, with 5 pips S/L, the next buy stop order will be placed 5 pips above the initial entry price). Once the pending stop order is filled, the previous position will be trailed to Breakeven and a new stop order will be placed, with its S/L being at the entry level of the previous trade. 

Essentially this tool capitalizes on equally distributed scale ins that capture aggressive moves.

Explanation of the Input Parameters:

• Auto Trailing - Two options: On/Off. If On, the auto trailing is enabled and on every new stop order that is triggered (entered), the previous trade(s) will be trailed at the S/L level of the order that was just triggered. If Off, nothing will happen, but be aware that the new scale in positions will not have a S/L so it requires active management by the user!
• Alerts Method - Three options: Alerts/Notifications/Both. When Max Trades is reached, or Max Daily Drawdown is reached you'll be notified either by alert (on the terminal's screen), by notification (on your phone) or by both ways.
• Lots per Trade - This is the lot size that will be used in the scale in positions. The lot size of the initial trade that is opened manually by the user is irrelevant for the consequent positions' lot size.
• Maximum Daily % Drawdown - It's the maximum allowed drawdown within the trading day. It's an integer number, so if you want 3% max daily drawdown, you just insert "3" in the value column.
• Maximum Number of Trades - It's the max trades that will the EA is allowed to enter, before the trades hit the T/P or the S/L. It's not affected by positions opened in other instruments in the terminal!
• Pips Stop Loss - Stop Order Buffer - It's the size of the S/L in PIPS, as well as the distance of the next stop order entry level. In example, if you set it at "5", that means once you click "buy", a S/L of 5 pips will be placed, and a stop order 5 pips higher will be placed by the tool (with the stop loss being 5 pips below too)
• Initial Take Profit in RR - It's the Risk-to-Reward ratio of the Take Profit. In example, if you set this value at "3", then if you have a Stop Loss of 5 pips, the Take Profit will be placed at 15 pips. (3x5pips)
• MagicNB - It's just an identification number so that the trades opened by the EA are recognizable. It doesn't affect any trading feature whatever this value is. It's set at "1111" by default but can also be blank.

Important Notes:

• Make sure to enable Auto-Trading from the MT5, otherwise it’ll not run properly
• If you remove the EA from the chart throughout the day, the Daily Drawdown counter will be reset
• It is advised that you first test in on a demo to see how it works
• The EA will work only if it's activated on the pair you want to trade. In example, if you want to scalp the US100, you can't place the EA on the EUR/USD chart
• The tool does check if there's available margin to set a new stop order. If there's not, you'll be notified
• The T/P of all the positions opened by the EA will be the same of the the very first trade based on the "Initial Take Profit in RR" input parameter value
• The tool can't work in the "Demo version" as it needs to find an open position and it'll place the next trades. In the backtest engine of mt5, you can't place an order as you'd do in a live market environment