Asian Scalper is an automated Forex robot. It is an advanced Asian session scalper which supports 9 currency pairs. The robot is equipped with Money Management, Take Profit, Stop Loss, Broker Protections, Slippage Protection, Max Spread Protection, Loss Recovery System and so on.
Supported pairs: GBPUSD, GBPCHF, GBPCAD, EURGBP, EURCAD, EURCHF, USDJPY, USDCHF, USDCAD.
Time Frame: M15
The main idea behind the robot is to trade during the Asian session. The robot carefully watches the price of the currency pairs and the volatility of the market. It can trade only during some specific time range which is different for each supported pair. This information is visible in the information box of the robot. Main indicators are Moving Average and Standard Deviation. The parameter Channel_Period define the period for these two indicators. The parameter Entry_Break defines the breakthrough distance in pips for opening a new trade. To determine the current HIGH and LOW lines, we use both indicators values. The HIGH line is used to check whether there is a breakout. The LOW line is used to check whether there is a breakdown. When there is a breakdown and the volatility of the market is equal or greater than Min_Volatility parameter's value, the robot opens a long position (BUY trade). When there is a breakout and the volatility of the market is equal or greater than Min_Volatility parameter's value, the robot opens a short position (SELL trade).
- Stop_Loss - Stop Loss value in standard pips. The robot will close the trades when the loss is equal to Stop_Loss.
- Take_Profit - Take Profit value in standard pips. The robot will close the trades when the profit is equal to Take_Profit.
- Slippage - Maximum allowed slippage in standard pips.
- Max_Spread - Maximum allowed spread in standard pips for trading.
- Hidden_Mode - When its value is TRUE the robot will hide Stop Loss and Take Profit from the broker.
- Magic_Number - A unique integer number which will be assigned to all open trades from the robot.
- Robot_Comment - A text which will be added as a comment to all open trades. By default it is "Asian Scalper". You can set what you want.
Money Management Settings
- Risk - Value in percents. When its value is greater than 0 (zero), the robot calculates the lots size automatically based on Risk value and account free margin.
- Lots - Fixed Lots size. If you want to trade with fixed lots, you have to set Risk=0 and set a proper value to Lots parameter according to your account free margin.
- Loss_Recovery - Loss recovery system. When enabled the robot checks whether there are any previous losses. If there are, it starts to increase the lots size of next trades with small amounts. This way it compensates the previous losses. When the previous losses are compensated, the robot continues trading with normal risk. For correct recovery, the MM must be enabled: Risk > 0.
- Max_Recovery_Risk - The maximum risk in percents which will be used by the robot during recovery process.
GMT Offset Settings
- GMT_Offset - GMT offset of your broker. Always set the winter GMT offset of your broker. It is very important to be properly set. Otherwise, the robot may have bad results.
- DST - Set TRUE if the broker shifts the GMT offset with +1 in Summer. Set FALSE if broker use same GMT offset whole year.
Trading Strategy Settings
- Trading_Hours - The hours when the robot will trade if there are good conditions.
- Channel_Period - The period parameter of the main indicators.
- Exit_Distance - Breakthrough distance in pips that triggers closing of a trade.
- Entry_Break - Breakthrough distance in pips that triggers opening of a trade.
- Min_Volatility - Minimum market volatility needed for trading.
- Exit_Profit_Pips - A minimum profit (loss for a negative value) on which a trade will be closed from the main exit logic of the robot.
- Reverse_Profit - A minimum profit on which a trade will be closed, if a market reverse is detected.
- Exit_Minutes - When this amount of minutes is exceeded, a trade will be closed if the current profit is greater or equal to the Time_Profit_Pips parameter.
- Time_Profit_Pips - A profit in pips (loss for a negative value), on which a trade will be closed. Second condition is that the trade existence time must exceed the Exit_Minutes parameter value.