Pipstackers Scalper is a scalping Expert Advisor which scalps in market with target of 10 pips working on M15 timeframe with 4 currency pairs as EURUSD - USDJPY, GBPUSD-USDCAD on 15 minutes timeframe.
- It finds trend on chart/timeframe it is loaded on using RSI indicator.
- It places a trade with entered lot in trend direction with target/Take Profit of 10 pips, where as Stop Loss is hidden and collective for a given pair which EA monitors continuously. Stop Loss is made hidden to protect strategy from stop hunts.
- If Take Profit hits great it opens a new trade on next candle with current available trend. If Take Profit is not hit and market goes opposite it waits till opposite trend ends. Then it adds a trade with a higher lot multiplied by 1.3 in previous trade direction and adjusts Take Profit of both trades in between both entry prices, repeating this 4 times till the time Take Profit is easily hit.
- As Pipstackers Scalper works with multiple pairs its provides opposite pairs with hedging capability, which helps it to reduce risk to minimum.
- Lot = 1 (user defined).
Pipstackers Scalper only has 1 input parameter—Lot. Other parameters have been optimized for best results with M15 timeframe.
Recommendation: 0.1 Lot size per 500 USD. For 2000 USD account use 0.1 with 4 pairs EURUSD, GBPUSD, USDCAD, USDJPY.