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Expert Advisor WATCHFUL SCALPER
This EA requires a broker having Market Execution (ECN, NDD, STP accounts), low spread, zero StopLevel (or close to such level), no commission if possible (as it influences on the profit amount). Order executin time should be measured in milliseconds, not minutes, requotes and slippage should not happen too often.
Deposit: Minimum deposit is $50 (MinLot = 0.01) or $500 (MinLot = 0.1)
Recommended currency pairs: EURUSD, GBPUSD, AUDUSD, NZDUSD, USDJPY, USDCHF, USDCAD
- No Martingale / No grid / No arbitrage.
- The SAFE function (protects the deposit from losses).
- The LOT is calculated basing on FreeMargin, RiskMM and StopLoss.
- Good for 5-digit quotes, worse for 4-digit quotes (less trades).
- Uses tight stops.
- Supports ECN accounts.
- Has 3 trading filters to choose from (Trade_Filter).
- The Commission parameter corrects the test.
- Works with brokers having symbols with suffixes.
- Automated calculation of MagicNumber as an option.
- Function of monitoring positions not having SL. It detects and corrects SL before repeated modification of a position.
- Adapted for operation on accounts with any major currency pair (EURUSD, GBPUSD, AUDUSD, NZDUSD, USDCAD, USDCHF, USDJPY).
- Broker error messages are displayed in the log.
- Function of correction SL & TP relatively to StopLevel.
- Control over trading activity based on percentage of the free margin (Min_Margin).
- Graphical representation of trading parameters.
- Compulsory TrailingStop.
- Control over trades by time (to avoid swaps, trades on Friday after a specified hour; saves from transfer of a position to Monday where a sharp gap is possible).
Settings and External Parameters:_Trade_Params_ = "--- TRADING PARAMETERS ---"
- EachTickMode= True - entry not waiting for the candle closing (zero candle).
- SupportECN= false - support of ECN (TP and SL are placed by order modification).
- AutoMagicNumber= true - auto generation of a magic number.
- Magic= 0 - order magic number.
- MaxSpread= 3.0 - maximum allowed spread (in points).
- ExpireTimeOrder= 3590 - positions will be deleted in N seconds.
- SAFE_Mode = 0 - options of the SAFE mode operation (0-not used, 1,2-operational options).
- LotFixed= 0.01 - fixed lot.
- LotMax= 100.0 - maximum allowed lot.
- RiskMM = 2.5 - calculation of risk from the balance and stop loss (if = 0, orders have a fixed lot).
- StopLoss= 6.1 - stop loss (in points).
- TakeProfit= 10.2 - take profit (in points).
- SL_correct = 9.5; - stop loss to correct positions having SL=0 (in points).
- Min_Margin = 100 - minimum level of margin (%) for new opened positions.
- TrailingStart= 2.0 - profit trailing (in points).
- UseVol_Dinamic= True - dynamic volatility calculation.
- Vol_Dinamic = 12.4 - (in points) dynamic value if UseVol_Dinamic==true.
- Vol_Limit = 17.9 - (in points) fixed value if UseVol_Dinamic==false.
- Trade_Filter = 3
- TradeTime = true - working by time (true - enable).
- TimeBegin1= "00:10" - start of trading-1 TimeCurrent().
- TimeEnd1 = "08:00" - end of trading-1 TimeCurrent().
- TimeBegin2= "08:00" - start of trading-2 TimeCurrent().
- TimeEnd2= "22:59" - end of trading-2 TimeCurrent().
- TradeControl_Friday = true.
- Hour_Stop= 20 - the robot will not open new positions after the specified hour on Friday.
- TradeControl_Month= true.
- Month_Start = 12 - month to start trading limitation.
- Day_Start = 23 - day to start trading limitation.
- Month_Stop = 1 - month to end trading limitation.
- Day_Stop = 5 - day to end trading limitation.
- Commission = 0 - (in points) commission (for testing, 1 point is recommended).
- Slippage = 3 - (in points) slippage.
- Comment_EA = true - display trading parameters on the screen.
- NumberOfTry = 3 - number of attempts.
- UseSound= true - sound.
- Language= 0.
It is recommended to check the EA's operation on a demo account before using it on a real one.
You can attach the EA to a working chart having any timeframe (the smaller TF the better).
- Safe = 0 - the safe function is not applied.
- Safe = 1 (irrespective of StopLoss). For example, 1 order of lot 0.2 is opened. Once the price makes a distance of TakeProfit/2 points, a half of the order volume is closed, and 1 order of 0.1 lot is left in the market. StopLoss is moved to the value of the obtained profit.
- Safe = 2 (irrespective of StopLoss). For example, 1 order of lot 0.2 is opened. Once the price makes a distance of TakeProfit/2 points, a half of the order volume is closed, and 1 order of 0.1 lot is left in the market. StopLoss is moved to the order open price + 1 point.
With the SAFE mode, after partial position closure we have an almost no-risk position.
UseSLTPcorrect = 1
- 1 - enable search for orders with SL=0 and modification of its value to SL_correct.
- 2 - enable search for orders with TP=0 and modification of its value to TP_correct.
- 3 - enable search for orders with SL=0 or TP=0 and modification of its value to SL_correct and TP_correct.
TP_correct = 14.0 - a valid take profit to replace TP=0 (in points)
AddDistanceMarket = 0.5 - a distance (in points) to increase Stop Loss or Take Profit if they are too close to market (we trade M1). Lower values for fast brokers, larger values for slow brokers. If the parameter is set to zero, an error may lead to zero Stop Loss and Take Profit of stop orders.