Scalping_Trap is an automated trading scalper EA that will detect high-probability entries for price action breakouts on the current chart timeframe. No trade-input parameters. It uses intelligent algorithms to adapt for the market., therefore optimization requirements are minimal.
The EA uses a SL so the account is always protected from high losses. The potential profits per trade are very high compared to the possible loss, as a clever trailing stop is being used to let the profits run.
Optimized for EURUSD M30, 0.00001. You should attach the EA to a chart and allow automated trading to let the Expert Advisor work. The EA will run on many low-spread pairs. With proper settings it is also appropriate for any time frames.
- Magic BUY - the magic number for the EA's long positions;
- Magic SELL - magic number for the EA's short positions;
- Spread Max - maximum spread, the EA will not trade if the current spread is above Spred_Max;
- Lots Parameter - fixed parameters of the lot;
- Money Risk SL - money you are ready to lose if stop loss triggers. The risk is calculated as a maximum value between Money_Risk_SL and Risk_Percent_Balans_SL. If set to 0, disabled;
- Risk Percent Balance SL - risk percentage of the free margin on the deposit balance. The risk is calculated as a maximum value between Money_Risk_SL and Risk_Percent_Balans_SL and used to calculate an autolot. If set to 0, disabled.
Setting of protection against losses
- BE points 0 Inactive - modify stop loss to breakeven when the profit of the current position reaches a certain number of points, if 0 = disabled;
- TP points 0 Countback - take profit in points, if 0 = take profit is set based on Countback price parameters of the current chart;
- SL points 0 Countback - stop loss in points, if 0 = stop loss is set based on Countback price parameters of the current chart;
Settings of Indicators
- Countback Max 60 - number of bars on the current timeframe for determining market entries;
- Period SMA - period of the SMA indicator;
- Expiration Minutes - number of minutes before the expiry of a pending order;
- Trading HoursStart - trading start hour;
- Trading HoursEnd - trading end hour;
- DeleteOpenOrder_NTT - if True, open positions are deleted regardless of their profit when reaching non-trading time (Not_Trading_Time);
- DeletePendingOrder_NTT - if True, delete all pending orders at a non-trading time (Not_Trading_Time);
- Strategy Breakdown - if True, activates the breakout strategy based on the trend of the Bollinger Bands or SMA indicator;
- Strategy Backward - if True, activates the breakout strategy opposite to the trend of the Bollinger Bands or SMA indicator;
- Strategy Extreme - if True, activates the breakout strategy based on the SMA, Bollinger Bands or Fractals indicator;
- DeleteOpenOrder_DOUBLE - if True, the function for deleting a loss-making order is activated provided that the second order is profitable;
- Visible SL TP - if True, activates visible trading with stop losses and take profits; if False, stop loss and take profit are invisible and are activated on the first tick of a new bar.
-minor changes to the trading algorithm;
-the default parameters were changed.
- Considerably enhanced the pending order modification algorithm.
- Removed parameters No_Trading_HoursStart and No_Trading_HoursEnd
- Added parameter DeletePendingOrder_SM, if set "True" it activates the function of pending order removal if the current spread exceeds Spread_Max (SM);
- Added parameter DeleteOpenOrder_DOUBLE, if set to "True" it activates the function of deletion of an order with a negative return when the second one with positive return is opened;
- Parameter DeletePendingOrder renamed to DeletePendingOrder_NTT, where NTT is Not_Trading_Time;
- Parameter DeleteOpenOrder renamed to DeleteOpenOrder_NTT, where NTT is Not_Trading_Time;
- Improved trading characteristics in cases where the first tick is lost;
- Improved trading characteristics with ModifyPendingOrder set to "true";
- Default parameters changed.
- Removed the function for deleting a pending order if the current spread is exceeded relative to the Spread_Max parameter;
- Removed the function for deleting a loss-making order when opening another (profitable) one;
- Added the function for adding an entry to the Experts tab if the current spread is exceeded relative to the Spread_Max parameter;
- Added the function for adding an entry to the Experts tab if FreeMargin is below the minimum value allowed for trading;
- Changed the default parameters. It is recommended that you optimize the EA for your broker.
- Added ability to set your own comment when placing an order (Comment).
- New function BE_Not_Trading_Time. If True, breakeven is set only at non-trading hours.