The strategy of this EA is a scalping system that depends on discovering the instant trend by analyzing the price movement speed along with using ATR, Volumes, CCI and WPR indicators.
This EA is intended for trading on EURUSD. However, it can be used on the major currencies as well. It uses the M1 timeframe.
Note: the initial parameters values are optimized for EURUSD.
- Risk in percent for a deal from a free margin: a percentage value that must be between '1' and '100'. It defines the maximum allowed amount of money of your deposit that will be used by the EA to open trades.
- Magic number: a number that will distinguish the EA's trades than the other trades.
- AlgorithmLevel must be between 0 and 2: It gives you the capability to switch between different calculation ways that are used in the core processing of the EA's trading system algorithm. You must optimize this value according to the data quality - sensitivity, accuracy and speed - of your broker. The value increases as the lower data quality, so '0' value is for the most accurate broker's data, '1' value is for lower and so on.
- Threshold must be between 10 and 35: The low values will decrease the required threshold that must be reached for the EA's trading system algorithm and so will increase the probability of opening trades and maybe it increases the chance of the fake signals in case of the high volatile market.
- TakeProfit Factor must be between 1.5 and 6: It's the value that defines the 'TakeProfit' threshold, and also the 'StopLoss' threshold is defined according to it. The 'StopLoss' threshold is always set to the half value of the 'TakeProfit'. The two of them define the actual values of 'TakeProfit' and 'StopLoss' as a multiplier of the current value of 'ATR' indicator.
- LimitRisk Factor must be 'true' or 'false': If the value is set to 'True', this limits the maximum allowed number of successive loss trades during a specific period of time. For example, there cannot be more than three successive loss trades during the same half hour.
- RangeDegree must be between 0 and 2: If the value is '0', no 'CCI' indicator is used at all. Value of '1' means that the value of 'CCI' must be more than or equal to '100' or less than or equal to '-100' according to the type of the expected trade. The value of '2' means that any of the two conditions is satisfied and acceptable, so the 'CCI' value can be more than or equal to '100' or less than or equal to '-100', any of them.
- DoubleCheck Factor must be 'true' or 'false': If the value is set to 'True', then 'WPR' will be used and its value must be more than or equal to '-20' or less than or equal to '-80' according to the type of the expected trade.
- LimitLogSize Factor must be 'true' or 'false': If the value is set to 'True', this means that the initial calculated lot size volume according to the value of 'Risk' parameter, that is be calculated through the first trade after starting the EA, cannot be exceeded during the same run of the EA, unless the EA is removed from the chart and added again.