The Scalping_Envelopes an automated trading scalper EA that detects high-probability entries for price action breakouts of the Envelopes indicator on the current timeframe of the chart. Only works with pending orders, which allows to analyze and control the EA's actions.
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. Depending on the configuration, the EA can work on many low-spread pairs.
- 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 Spread_Max;
- Lots Parameter - fixed parameters of the lot;
Setting of protection against losses
- TP points 0 Env - take profit in points, if 0, then take profit is set according to the parameters of the Envelopes indicator (works on opening prices);
- SL points 0 Env - stop loss in points, if 0, then stop loss is set according to the parameters of the Envelopes indicator (works on opening prices);
- BE points 0 TP- modify stop loss to breakeven when the profit of the current position reaches a certain number of points, if 0 it works according to the TP_points_0_Env parameter (works on every tick);
- Period SMA - period of the Simple_Moving_Average indicator. If set to 0, then the period will be set according to the Period_ENV parameter;
- Shift Back SMA - the shift back for the Simple_Moving_Average indicators.
- Period Env - period of the Envelopes indicator. If set to 0, then the period will be set according to the Period_SMA parameter;
- Shift Back Env - the shift back for the Envelopes indicators.
- Deviation Env - deviation of the Envelopes indicator;
- Expiration Minutes - number of minutes before the expiry of a pending order;
- Trading HoursStart - trading start hour;
- Trading HoursEnd - trading end hour;
- 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.
-ShiftBack_Env, which sets the shift back for the Envelopes and Bollinger Bands indicators (more effective for making entries using market orders, when Expiration_Minutes is 0).
-ShiftBack_SMA, which sets the shift back for the Simple_Moving_Average indicators (more effective for making entries using market orders, when Expiration_Minutes is 0).
Changed the parameter:
BE_points_0_TP to 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;
Removed the parameter:
-TS point 0 Inactive;
-Money Risk SL;
-Risk Percent Balance SL.