Isheguve Scalper Pro

Isheguve Scalper pro user guide

1. Introduction to Isheguve Scalper Pro

Isheguve Scalper Pro is a sophisticated MQL5 Expert Advisor designed to automate your trading decisions. It integrates advanced technical analysis with robust money and trade management to provide a comprehensive automated trading solution.

Key features include:

  • Candlestick Pattern Recognition: Identifies various reversal and continuation candlestick formations.
  • Multi-Indicator Confirmation: Filters and confirms patterns using Exponential Moving Averages (EMA), Relative Strength Index (RSI), and Bulls/Bears Power indicators.
  • Dynamic Risk Management: Calculates trade lot sizes based on a user-defined risk percentage and adjusts for consecutive losses.
  • Adaptive Trailing Isheguve Scalper Pro: Implements a dynamic trailing stop-loss system based on Average True Range (ATR) to adapt to market volatility.
  • Session Management: Automates trade closure and pending order cancellation as the trading session ends.
  • Flexible Trade Strategy: Allows you to choose between a netting-like (single-directional) or hedging-like (multi-directional) trading approach on the same symbol.

2. Installation Guide

To use Isheguve Scalper Pro , you need the MetaTrader 5 (MT5) trading platform.

  1. Download the EA file: Obtain the Isheguve Scalper .ex5(or .mq5 ) file.
  2. Open MetaTrader 5 Data Folder:
    • Launch your MT5 platform.
    • Go to File > Open Data Folder .
  3. Navigate to Experts Folder:
    • In the opened data folder, navigate to MQL5 > Experts .
  4. Copy the EA File:
    • Paste the Isheguve Scalper .ex5 (or .mq5 ) file into the Experts folder.
  5. Refresh MetaTrader 5 Navigator:
    • Close the data folder.
    • In MT5, go to the Navigator panel (usually on the left side).
    • Right-click on Expert Advisors .
    • Select Refresh . You should now see "Isheguve Scalper Pro .ex5" listed under Expert Advisors .

3. Attaching the EA to a Chart

Once installed, you can attach Isheguve Scalper Pro to any chart in your MT5 terminal.

  1. Open a New Chart: Select the desired currency pair or trading instrument and open its chart (e.g., File > New Chart ).
  2. Select Timeframe: Set the chart to your preferred timeframe (e.g., H1, H4, D1). The EA is designed to work on various timeframes.
  3. Drag and Drop the EA:
    • From the Navigator panel, locate Expert Advisors > Isheguve Scalper Pro
    • Drag and drop "Isheguve Scalper Pro" directly onto your selected chart.
  4. Configure EA Settings:
    • A pop-up window titled "Expert Advisor properties" will appear.
    • Go to the Common tab:
      • Ensure Allow Algo Trading (or Allow automated trading ) is checked.
      • Make sure Allow DLL imports is unchecked (this EA does not use DLLs).
    • Go to the Inputs tab: This is where you will customize the EA's parameters.
  5. Click OK: After configuring the inputs, click OK .
  6. Verify Activation:
    • A smiley face icon (for MT5) or a green "AutoTrading" button at the top of your MT5 terminal should indicate that the EA is active.
    • The EA's information panel should appear on the chart, confirming its presence.

4. Understanding the Input Parameters

The Inputs tab is where you customize Isheguve Scalper Pro to fit your trading style and risk tolerance. Parameters are grouped for clarity:

- Money Management -

Max Risk Percentage (1.0): Your maximum acceptable risk per trade as a percentage of your account balance. (e.g., 1.0 for 1% risk).
SL Offset Points (200): This is a fixed stop-loss distance in points used primarily for the initial lot size calculation. It's also a fallback if the ATR trailing stop calculations are invalid. (200 points = 20 pips on a 5-digit broker).
Risk Reward Ratio (10): Your desired Take Profit to Stop Loss ratio. (e.g., 20 means 1:20 Risk-to-Reward, if SL is 20 pips, TP will be 400 pips).
Decrease Factor (0.2): If `Consecutive Losses Trigger` is met, the lot size will be multiplied by this factor. ( 0.2 means 20% of the calculated lot size).
Consecutive Losses Trigger (1): The number of successive losing trades that activate the `Decrease Factor` for lot size reduction.
Slippage (10): The maximum allowable deviation in points from the requested price.
Reset On Win (true): If true, the `Consecutive Losses` counter resets to zero after any winning trade.

- Indicators parameters -

MA Period (21): The period for the Moving Average used to identify the general trend.
Period RSI (30): The period for the Relative Strength Index (RSI).
RSI Sell Reversal Level (70): The RSI level indicating an overbought condition for potential sell reversals.
RSI Buy Reversal Level (30): The RSI level indicating an oversold condition for potential buy reversals.
Bulls Bears Power Period (21): The period for the Bulls Power and Bears Power indicators, used for momentum confirmation.
Price (PRICE_CLOSE): The price type (e.g., Close, Open, High, Low) used for indicator calculations.

- ATR Dynamic Trailing Stop Parameters -

Use ATR Trailing (true): Set to true to enable the ATR-based dynamic trailing stop. Set to false to disable it.
ATR Period (14): The period for the ATR indicator used in the trailing stop calculation. Higher values mean a smoother, slower-reacting stop.
ATR Multiplier (2.0): The multiple of the ATR value used to set the stop-loss distance. Higher values create a wider, more flexible stop.
ATR Min Stop Loss Pips (10.0): The minimum allowed stop-loss distance in standard pips. The dynamic ATR stop-loss will not go tighter than this value.

- Pending Order Parameters -

Pending Order Offset (50): The offset in points from the pattern's high/low to place the pending order entry price.
Pending Order Expiry Bars (5): The number of bars after which a pending order will expire. Set to 0 for Good Till Cancelled (GTC).

- Trade Session Management -

Session End Time Hour (23): The hour (0-23) when the EA considers the trading session to end.
Session End Time Minute (59): The minute (0-59) when the EA considers the trading session to end.

- Position holding time -

Duration (1440): The maximum number of bars a position can be held before automatic closure. Set to 0 for no time limit.

- Expert ID -

Magic Number (8101993): A unique identifier for this EA's trades. Change this if running multiple instances of the same EA on different charts or strategies.

- Trade Strategy Mode -

Trade Strategy Mode (ACCOUNT_TRADE_MODE_NETTING): This crucial setting dictates the EA's behavior with conflicting signals:
  • ACCOUNT_TRADE_MODE_NETTING: The EA will ensure only one directional trade is active per symbol. If a new signal conflicts with an existing position or pending order (e.g., a Buy signal with an open Sell position), the EA will first attempt to close the opposing position and cancel conflicting pending orders before placing the new trade.
  • ACCOUNT_TRADE_MODE_HEDGING: The EA will allow holding both long and short positions simultaneously on the same symbol. It will not automatically close opposing positions or cancel conflicting pending orders when a new signal appears.

We hope this user manual helps you effectively utilize the Isheguve Scalper Pro Expert Advisor to enhance your automated trading experience. Happy trading!

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Experts
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Experts
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