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Short Term Scalper MT4
Short Term Scalper EA is an Expert Advisor works in the short-term direction and always uses a tight stop loss invisible to the broker. Only one order per currency pair can be opened at a time.
When the short-term trend changes, the EA changes the type of the pending order, deletes the old one and places a new order. The pending order follows the price in anticipation of when the market begins its short-term movement.
This scalper does not work in a flat, therefore it should be used on highly volatile currency pairs, such as EURUSD, GBPUSD, AUDUSD, USDJPY, USDCHF, USDCAD, NZDUSD, XAUUSD. Working timeframe is M30 (defined in the settings).
The EA makes a small amount of trades, so it is ideal as an addition to a manual strategy or in conjunction with another EA. The EA distinguishes its trades by a magic number.
The pending order and the market order are not left for weekends and are closed 10 minutes before the end of trading on Friday.
VPS is recommended. The recommended minimum deposit is 100 units of the base currency per 0.01 lot.
Attention! The EA is designed for long-term use, therefore, do not expect immediate results. There can be unprofitable days and even weeks. The number of trades mainly depends on the market volatility.
- LotsFor1000 - lot size per 1000 units of base currency.
- NumberOfBars - the number of bars to determine the short-term trend.
- DistanceOrders - distance to pending orders, in pips;
- TimerSecond - timer in seconds, after which pending orders are modified at new prices;
- MaximumSpread - maximum allowed spread for the EA's work, -1 - not used;
- StopLoss - in pips.
- TakeProfit - take profit;
- TrailingStop - trailing stop distance.
- TrailingStep - trailing step.
- MagicNumber - magic number.
- OrdersComment - comment to orders.