ReaperBot is a fast scalper EA with ability work on every account type, every currency pair and every timeframe.
its functionality is based on Channel Breakout and Trailing Stop. it can work with 3 different type of indicators as Channel:
💠 Auto Magic Number. (Makes it easier to work with concurrent charts.)
💠 The Stealth Mode functionality. (Stop Loss and Take Profit values will be hidden for the broker)
💠 The external availability of all parameters for more precise settings.
💠 Attention Please :
🔴 It's a fast scalper, so it requires a good internet connection speed, and also requires a lot of execution speeds. So It is highly recommended to
🔴 At first, use a demo account to set and optimize the parameters of the EA proportionate to your account.
🔴 The Default settings values are only s suggested values.
🔴 Keep in mind that, in general, keep the status display and descriptions on the screen disable, so that orders are execute as fast as possible. activate them only if it is necessary.
🔴 Then use it on a real account.
🔴 ECN_Mode: Enable ECN mode. (In some ECN accounts, the broker will not be allowed to send an order with SL/TP. So you must enable ECN-MODE.
🔴 StealthMode: Don't set Take Profit and Stop Loss for positions (Hide the TP/SL for Broker)
🔴 ShowStealth_SLTP_Line: Draw Take Profit and Stop Loss Lines on chart
🔴 UseVolatility_Filter: Enable Volatility Filter.
🔴 Dynamic_Volatility: Enable Automatic Calculating Volatility Value.
🔴 MaxLossNum: Maximum Allowed Serial Loss Order (in one day)
🔴 Measure_Market_Speed: Test and Measure market order execution speed. If execution of order speed is low, EA don't open any positions.
🔴 Take_Screen_Shots: Take Screenshot on each open trade.
🔴 Alert_On_Signal: Alert on each open trade.
🔴 Use_Tester_Speed_Control: Enable Strategy Tester Speed Control .
🔴 Lot_Type: Lot Size Management.
🔴 Manual_Lot: Manual Lot Size.
🔴 Lot_Risk: Amount of Risk per Trade or per equity.
🔴 MinLots: Minimum Allowed Lot size.
🔴 MaxLots: Maximum Allowed Lot size.
🔴 StopLoss: Order StopLoss.
🔴 Emergency StopLoss: if order can not be modified with current stoploss, set to this value.
🔴 TakeProfit: Order Take Profit.
🔴 Order_TrailingStart: Distance of Order on Trailing.
🔴 PendingOrder_TrailingStart: Distance of Pending Orders on Trailing.
🔴 MaxSpread: Maximum Spread that can be used. (Average Spread + Commission)
🔴 Ticks_Count: Ticks Count for Average Spread Calculation.
🔴 Slippage: Amount of allowed Slippage for sending or closing orders.
🔴 Commission: Amount of Commission that you must
pay to broker for each Trade.
🔴 MaxExecutionMiliSeconds: IF Market Order Execution greater than this value, EA don’t send any order.
🔴 Minimum_Volatility: Minimum Volatility that is necessary for make a Trade Signal. (in version 8.42 and before, does not affect on dynamic mode.)
🔴 Base_Spread_Multiplier: Used for Dynamic(Auto) Minimum Volatility Calculation.
🔴 MSG_Start_Line: Start of Line Number for Comments.
🔴 MSG_Line_Distance: Distance of each Lines.
🔴 CloseStealth_Buy: Stealth Mode Closed Buy Arrow Color.
🔴 CloseStealth_Sell: Stealth Mode Closed Sell Arrow Color.
🔴 Start_Month: Start Month of EA working, default is: 2
🔴 End_Month: End Month of EA working. default is: 11
🔴 Used_Indicator: Used Indicator as Channel.
🔴 Alert_Sound_File: ALERT On Signal Detected.
🔴 onTrade_Delay_ms: Delay per tick for (Visual)/Strategy Tester /if ms < 1000: in Millisecond.
🔴 General_Delay_cpu: Delay per tick for (Visual)/Strategy Tester /if ms < 1000: in Millisecond.
💠Pairs and Timeframes:
🔴 All pairs and all timeframes (but EURUSD/AUDUSD/USDJPY/USDCAD on M1/M5 Recommended).
💠Recommended Trading Conditions:🔴Currency Pairs: USDJPY.
🔴 Timeframe: M1.
🔴 Spread (Average Spread + Commission) no more than 10 points (less than is better).
🔴 Account Type : A Low spread ECN, PRO ECN or NDD Account with minimum 1:500 Leverage.
🔴 A Fast execution orders without re-quote broker. TickMill or IC-Markets recommended.
🔴 Minimum Allowed Deposit is $10, Recommended is $1000.
2. Add external "Ticks Count" parameter for Average spread Calculation.
3. Add Start_Month and End_Month Parameters (Working Month Filtering. Default is: 2 to 11)
4. Add Maximum Allowed Serial Loss Order (in one day) Parameter.
2. Optimize Parameters on: (you must set Commission Amount manually in EA parameters)
A: IC-Markets, TRUE-ECN Account type. Spread(0~2) with Commission ($7/Lot) (this is default)
B: Alpari , PRO-ECN Account Type. Spread(5~7) with Commission ($4/Lot)
2. Variable "Shift" parameter of Indicators.
3. Some changes in some parameters.
1.This version Optimized on IC-MARKETS broker and Account type TRUE-ECN with Spread(0-2) and Commission($7.0 per Lot).
2. in this broker sending orders with SL/TP is allowed in ECN Mode. So its necessary that you check this permission with your broker. if it is not allowed, you must turn on "ECN-MODE" parameter.
Due to bug in version 8.37, the 8.36 version was temporarily returned.
The version 8.37 will be upgraded soon.
2. Improve Modify Orders function on ECN Mode.
2.Optimize Floating Spread and Commission Calculations.
3.Variable ScreenShot Width and Height.
4.Fix and Hide minimum stoploss and emergency stoploss parameters.
5.Change to tester speed delay.
6.Change stoploss default value.
2.Change Spread Multiplier from "20" to "16".
3. Change Default Indicator to Envelopes .
4. Control Pending Orders and delete it if can not modify it.