Market / MetaTrader 5 / Experts /

Otter Scalper

59 USD

Demo downloaded: 127

Published: 23 November 2022

Current version: 1.7

Otter Scalper

Experts
Esteban Thevenon
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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cansinc 2023.02.28 12:03 #

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Shinji Tanaka 2023.02.01 00:18 #

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4009

Reply from developer Esteban Thevenon 2023.02.01 07:45 #

Hello, It is normal that the robot takes only small profits, it is all strategy. Please refer to the description of the robot. All the changes you mention are available in the settings

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Joseph Nguyen 2023.01.25 19:37 #

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Konstantin 2023.01.24 23:26 #

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4009

Reply from developer Esteban Thevenon 2023.01.25 08:57 #

Thank you very much for your feedback. I have indeed spent a lot of time fine-tuning this robot even if it is not yet perfect. Be careful to understand its strategy and how it works before potentially trading with a real account.

262

Lis28872 2023.01.23 19:41 #

User didn't leave any comment to the rating

4009

Reply from developer Esteban Thevenon 2023.01.23 21:14 #

Thank you very much for your review ^^

127

Not AizU 2023.01.20 20:53 #

User didn't leave any comment to the rating

4009

Reply from developer Esteban Thevenon 2023.01.23 21:15 #

Hello, Thank you very much for this review.
There are several reasons for this:
-check that algorithmic trading is enabled
-Check that you only have this problem with this robot (if not, then it's an authorization problem on your MetaTrader)
-Check the "Journal" tab to see if you have any errors (wrong settings, not enough money, etc)
-Have a look at this site: http://fxcraft.biz/en/knowledge-base/why-your-ea-doesnt-work/

92179801 2023.01.16 12:09 #

User didn't leave any comment to the rating

4009

Reply from developer Esteban Thevenon 2023.01.16 18:51 #

Hello, There are several reasons for this:
-check that algorithmic trading is enabled
-Check that you only have this problem with this robot (if not, then it's an authorization problem on your MetaTrader)
-Check the "Journal" tab to see if you have any errors (wrong settings, not enough money, etc)
-Have a look at this site: http://fxcraft.biz/en/knowledge-base/why-your-ea-doesnt-work/

30442893 2023.01.15 15:44 #

User didn't leave any comment to the rating

4009

Reply from developer Esteban Thevenon 2023.01.16 08:43 #

Thank you very much for your review ! Okay, I will add an option for the volume ^^

Version 1.7 2024.01.31

- Daily max win

Version 1.6 2023.01.31

-Improved comments
-Fixed the bug of cohabitation with several experts

Version 1.4 2023.01.26

-Closing of positions on Fridays

Version 1.3 2023.01.25

-Magic number added to the settings

Version 1.2 2023.01.24

-Minor change

Version 1.1 2023.01.16

-Adding fixed lots