Averaging Scalper MT5
- Experts
- Darijo Milicevic
- Version: 1.70
- Updated: 2 February 2022
- Activations: 8
Averaging Scalper is a fast and efficient EA with customizable entry points that uses the averaging strategy based on the distance of the Average True Range volatility indicator.
The initial order entry point is based on the three moving averages.
If the price moves against the order, new order will be opened once the distance of Average True Range value multiplied by the distance multiplier setting is reached.
Every 10th, 15th, 20th and 25th order is multiplied by the entry multiplier setting.
All orders are closed as soon as their sum of their profits reaches the profit target.
MT4 version: https://www.mql5.com/en/market/product/68982
Telegram group: https://t.me/+_s2Pip-Cl3tiOWNk
Backtested set files: AveragingScalper – Google disk
Parameters- Entry lots (0.01): this is the initial entry lot, 10th, 15th, 20th and 25th order is multiplied by the Entry Multiplier setting.
- Profit Target in pips (54): default setting is recommended.
- Entry Lots Multiplier (2): this is the multiplier for the 10th, 15th, 20th and 25th order
- 1. MA Period (Junior) (21): Period for the junior MA
- 2. MA Period (Medium) (50): Period for the medium MA
- 3. MA Period (Senior) (200): Period for the medium MA
- MA method (Simple Moving Average): Method of all MA
- MA price(Price Close): Price parameter for all MA
- Buy and Sell direction (BuyBelowSellAbove): Buy and Sell directions based on all three MA.
- Period (14): RSI filter period
- RSI Timeframe (1 hour): RSI filter timeframe
- Buy Level limit (0 - disabled) (80): RSI filter buy limit, when above this value EA will not place buy initial entry order.
- Sell Level limit (0 - disabled) (20): RSI filter sell limit, when above this value EA will not place sell initial entry order.
- Period (14): ADX filter period
- Level (0 - disabled) (34): ADX filter level, when above this value, the EA will not place any order.
- Period (20): parameter for the Average True Range indicator
- Distance multiplier (3): algorithm will open trades based on the multiplied distance of the ATR indicator
- Trailing Stop Points (0 - disabled): if set, EA will start trailing after the profit target is reached.
- Start hedging after order # (0 - disabled): if set, EA will start hedging orders and manage 2 series simultaneously
- Close all trades and stop trading if equity reaches (0 - Disabled): if the total account equity reaches this absolute value, all trades will be closed and the EA will stop working
- Stop trading after series is closed (false): After the last position is closed the EA will stop working
- Magic Number: EA unique ID when running multiple instances on the same account.
The algorithm was backtested with dukascopy historical data. Recommended set files are available on the link above.
Feel free to test and experiment with other instruments.
If you are using multiple charts on the same account, remember to change the Magic Number for each EA.
If you have any questions, please contact me through telegram @dmilicevic.
Screenshots are for USDCAD and EURUSD currency pairs 5 years backtest.
Risk Disclosure
Futures and forex trading contains substantial risk and is not for every investor.
An investor could potentially lose all or more than the initial investment.
Risk capital is money that can be lost without jeopardizing ones’ financial security or life style.
Only risk capital should be used for trading and only those with sufficient risk capital should consider trading.
