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Neo Scalper

Neo Scalper is a fully automated Expert Advisor based on Level Trading strategy, momentum of trades and some MetaTrader 4 standard indicators.

The Expert Advisor 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. To minimize a drawdown and protect the deposit, you can limit your losses by setting stop loss and/or by setting maximum allowed drawdown.

Best result using this EA are on EURUSD and GBPUSD pairs, but you can run on several instruments simultaneously, too. Recommended pairs are EURUSD, GBPUSD and USDJPY.


Requirements and Recommendations

  • Please use this EA on 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.


Parameters

  • MagicNumber = 8989 - used to identify an order.
  • OrderCmt = neoscalper - comments on each trades.
  • TakeProfit = 20 - take profit in pips. 20 is 20 pips.
  • Stoploss = 20 - stop loss in pips. 20 is 20 pips.
  • TrailingStop = 2 - trailing stop size in pips.
  • TrailingStart = 3 - trailing start in pips.
  • MaxSpread = 2 - maximum spread accepted to trade in pips.
  • MaxOrders = 8 - maximum number of orders.
  • min_distance = 10 - minimum distance between orders in pips.
  • MoneyManagement = true - set to true to enable auto money management. If false, ManualLotsize is used.
  • Risk = 2.0 - risk value for trades.
  • ManualLotsize = 0.01 - lot value used if MoneyManagement is false.
  • DD_Protection = 20.0 - maximum allowed drawdown in percentage.
  • a_period = 20 - parameter for used indicator.
  • b_period = 34 - parameter for used indicator.
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