Lightning Scalper EA
The Lightning Scalper EA is a fully-automated expert advisor which trades breakouts that always happen on the market.
- Easy to set up and supervise
- No previous experience required
- No optimization or analysis needed
- It leaves zero room for human errors
- Start trading with as little as 100$ and 0.01 lots
The EA has a set of great features:
- Only pending orders are used
- All orders are protected by stop-loss and trailing stop
- Trading activity is frequent, perfect for rebate generation
- It implements a spread control which removes all orders
- Profits are left running using an adaptative trailing-stop
- No averaging, no grid and no martingale
- Trading is NFA-FIFO Compliant
All you need is a broker with good trading conditions:
- Spreads + Commission below or equal to 1.2 pip
- Stoplevel 2 pips
- Performs better in EURUSD M15 but...
- It can trade GBPUSD and USDJPY as well and every timeframe from M5 to daily.
How does it work?
The expert advisor trades breakouts. It uses an indicator to decide where put pending orders.
When these prices are touched, the pending orders become market orders and the position management starts.
As soon as the trade goes in profit, the trailing stop coded inside the EA start to secure your profit.
The EA uses pending orders to reduce the slippage as much as possible. To assure transaction costs don't ruin the payoff, the EA implements a spread control mechanism which removes all pending orders when the spread is high, and restores them later when the spread is back to profitable levels.
The following parameters affect the trading activity.
- Max Slippage: Ensure that trades are executed at best price possible.
- Lots Fixed: Choose the fixed lotsize for every trades.
- Lots Automatic: Adapt your lotsize according to your account balance ('x' lot every 1000€/$ on balance.)
- Max Spread: Choose MaxSpread allowed accordingly to the timeframe and pair (recommend for M15 = 12).
- Average Spread: Calculate average of the spread on last 'x' ticks (recommend last = 10/20 ticks).
Kindly note that default parameters are optimal for M15.
Added a filter that is used in order to strengthen a signal... Basically, now you can choose after how many pips of pullback the last ZigZag value will become a signal.
Added the filter to prevent trading during high-impact news using the three parameters as explained in the EA's description.