Otter Scalper
- Experts
- Version: 1.7
- Updated: 31 January 2024
- Activations: 5
Otter Scalper is a 100% automated trading robot. It uses a very effective breakout strategy. The money management is automatic. A position is taken when a high or low is reached. The position is secured as soon as possible and followed with a trailing stop loss.
As the average profit is small, it is advisable to trade with a small spread. The performance of the robot can therefore change depending on your broker. It is also strongly recommended not to use this robot if your broker uses commissions. These will prevent you from winning on the long term because they are too important for the gains per trade.
Feel free to share your different settings with others in the comments if you think they are better.
Advice :
| Trading pairs | EURUSD, USDJPY |
| Timeframe | H1 |
| Minimum deposit | 500$ |
Settings :
Order managment :
Take profit = Number of take profit points above the entry price
Stop loss = Number of stop loss points below the entry price
Trailling stop [0=off] = Maximum number of stop loss points below the price once triggered
Trailling stop start [0=off] = Number of points above or below the price to trigger the trailing stop loss
Increase trailling stop [0=off] = Increase in trailing stop loss in points
Increase trailling stop if price up [0=off] = Increase in trailing stop loss if price gains x points
Max increase trailling stop = Maximum increase in trailing stop loss
New order if further price = Move the price in points away from the highest or lowest to add a new order
Fixed lot ? = Activation of a fixed or risk-based lot
Fixed lot = Fixed lot size
Risk % = Risk by position
Time filter :
Time filter = Activation of the robot for certain hours
Start hour = Start hour of the robot
Start Minute = Start minuteof the robot
End hour = Hour to stop the robot
End minute = Minute to stop the robot
Close trades Friday = Close trades at the end of the week
Close hour = Hour for closing trades
Close minute = Minutes for closing trades
Other settings :
Magic number = Identification of the robot
On new candle = New order only on new candles
Candles before exhaling = Number of candles before expiration of the orders
Range candles higher lower = Range for higher/lower
Lose max by days % = Maximum loss per day
Comment = Activation of comments
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