Forward Scalper EA Free
Forward Scalper EA Free is a free version of the Forward Scalper Expert Advisor. Unlike the full version, the EA only works in the fixed lot mode using minimum volumes. It analyzes the market situation on three timeframes simultaneously: D1, H1 and current. When an important price level is broken and no clear trend is present, the EA opens an opposite position with the specified lot size. A losing position can be averaged by a doubled lot, if the price reaches the next important level and there are also no clear signs of a trend. The position is closed when the profit level specified in the Profit/Volume parameter is reached. In case this does not happen within 1 hour, the EA searches for an opportunity to close the positions with minimum losses on the price rollback.
Forward Scalper EA Free does not use dangerous money management methods, such as martingale, hedging, grid strategies and keeping of unprofitable trades.
On weekends, brokers set a large spread value, so when testing, it is recommended to set the current spread in the Strategy Tester equal to 2-5 points. The EA is optimized for trading EURUSD M15.
- Ready to go without any particular setup.
- Minimum deposit: $100 or above.
- It is possible to set the maximum spread size.
- Supports any execution type.
- The Expert Advisor works with any broker.
- The product works with three, four and five-digit quotes.
- ECN account is recommended.
- No martingale.
- No hedging.
- No risky strategy elements.
- Trade - trading settings.
- Magic - unique ID of the EA's orders. When trading multiple currency pairs, it is necessary to set a separate value for each pair.
- Slippage - slippage in pips. Recommended values are 0 to 3.
- StopLoss - Stop Loss value in pips. If 0, the value is calculated and placed by the EA.
- TakeProfit - the Take Profit value in pips. If 0, the value is calculated and placed by the EA.
- Profit/Volume - the level to trigger the profit taking block. Recommended values are 5 to 30.
- Max_Spread - maximum allowed spread size for opening positions, in points. Recommended values are 10 to 25.
- MarketWatch - set true for brokers with market execution of orders.
- Time Trade - trading time settings.
- OpenHour - trading start time, hour.
- OpenMinute - trading start time, minute.
- CloseHour - trading end time, hour.
- CloseMinute - trading end time, minute.
- Recommended pair: EURUSD.
- Timeframe: M15.