EMA Scalper Tool
- Experts
- Version: 1.9
- Updated: 4 February 2025
- Activations: 5
EMA Scalper Tool is a semi-automatic tool to do scalping based on EMA Scalper Indicator. It helps to set reversal entries based on EMA or reversal EMA area, managing take profit at the nearest area, or making cut loss when candle closed outside the area.
Originally made for M15, H1, and H4 timeframe. The higher the timeframe, the more balance and endurance are needed.
Indicator Setup:
This particular tool shows last up to 400 candles of EMA Scalper Indicator's lines. To expand line's history, you can set standard EMA indicators on MetaTrader using the same lengths, despite you won't have reversal EMA lines anywhere on the Internet. The indicator can be bought separately. If you use EMA Scalper Indicator, it may show you slightly different lines because EA and Indicator calculate using different starting candle.
Inputs:
- Set one pip on price, e.g. EURUSD to 0.0001, USDJPY to 0.01, XAUUSD to 0.1, or Stocks to 1. Or select AUTO if you want it to autodetect.
- Set lowest lot you want to start accordingly.
- Minimum TP is to make sure the minimal range to take profit, because sometimes the EMA lines is soo twisted.
- Endurance is the longest pips that can blow your account on multiple trades. 3000 is considered safe, 500 is very high risk.
- Start balance must be set to make sure the volume is calculated progressively up. You can continue using first balance although you are currently in drawdown to use the endurance efficiently.
- Minimum Equity is the percentage to make sure this tool is automatically exit when equity reach the minimum point.
- Set EMA SETTINGS using the same parameters in EMA Scalper Indicator.
Feature:
- Showing recent EMA Scalper Indicator's lines to ease the thinking.
- Set and forget entry buttons for daily scalping.
- Up to two entries per channel.
- Double take profit buttons to gain more rewards.
- Can be used for back testing using Strategy Tester.
How to do the trade:
- First, set up the indicator settings.
- Do not trade if there is highly impact economic news coming.
- If there is a confirmed trend direction, then try to find reversal entries.
- Select area you want to do the reversal entry and set the double profit if necessary.
- Lot size, TP, SL, and cut loss are automatically calculated and executed.
- Don't worry of the SL, and don't calculate using RR based on SL and TP. Mostly it uses cut loss.
- Only open a single position on every pair.
- You can close any position if needed.
How the tool works:
- It will execute entry based on the panel you've set.
- It will set Take Profit in the nearest area, sorted as A-B-C-D-E. Or double the profit range.
- For A and B entries, it will set Take Profit based on the range of A-B and B-C respectively.
- It will cut loss any position if the candle close above or below the area.
- It will set Stop Loss based on ATR of 20x current timeframe, just in case of market spikes.
- It will cancel all dot lines setups whenever Reverse EMA reversed.
ATTENTION: The buttons are rendered overlayed in charts, it means they shares click events with other objects. If you cannot easily click a button, you may adjust the charts so that the buttons are not overlapped with other objects.
WARNING: If you do not interact with any buttons, this tool will attempt to make trades at most once a week around middle EMA after a new trend is detected. The entries and exits of the trades are not guaranteed to profit because there are not news filtered entries, as a result it can lead to some big losses. Please interact to any button to cancel all of this behavior.
