BiLogic Scalper is a fully automated Expert Advisor based on Level Trading strategy, Momentum of trades and some MetaTrader 4 standard indicators.
The Level Trading used by the EA represents the Level price where the presence of strong buyers or sellers forced price to jump (Breakout) or stop and change its direction (Reversal). There are Two Logic in the EA. The First Logic (Logic1) for Breakout trades and Second Logic (Logic2) for Reversal Trades.
The EA allows you to trade a fixed lot, as well as includes the money management unit for automatic lot calculation based on the preset risk per trade.
Please use this EA on pairs with low spread and low stop level.
Your trades will be protected by stop loss.
Best result using this EA are on EURUSD, GBPUSD and USDJPY pairs, and you can run on several instruments simultaneously.
Requirements and Recommendations
- Please use this EA on M1 or M5 timeframe
- The recommended account leverage is 1:500
- If you want to have only one pair triggered at a time, please use the same Magic Number for all pairs.
- VPS hosting 24/7 is strongly advised.
- MagicNumber = 1177 - used to identify an order.
- OrderCmt = bls - comments on each trades.
- Logic1= true - enable Breakout trades.
- Logic2= true - enable Reversal trades.
- TakeProfit = 15 - take profit in pips. 15 is 15 pips.
- Stoploss_L1=7 - stop loss for Breakout trades in pips. 7 is 7 pips.
- Stoploss_L2=25 - stop loss for Reversal trades in pips. 25 is 25 pips.
- TrailingStop = 2 - trailing stop size in pips.
- TrailingStart_L1 = 0 - trailing start in pips for Breakout trades.
- TrailingStart_L2 = 3 - trailing start in pips for Reversal trades.
- Buffer = 2 - distance in pips between running price and pending order for Reversal trades.
- MaxSpread=2 - maximum spread accepted to trade in pips.
- MaxOrders=2 - maximum number of orders.
- min_distance=12 - minimum distance between orders in pips.
- MoneyManagement = true - set to true to enable auto money management. If false, ManualLotsize is used.
- Risk_L1 = 3.0 - risk value for Breakout trades.
- Risk_L2 = 2.0 - risk value for Reversal trades.
- ManualLotsize = 0.01 - lot value used if MoneyManagement is false.
- DD_Protection =7.0 - drawdown protected in percentage.