Scalping 4H Range EA
- Experts
- Version: 1.12
- Activations: 5
A mechanical, rule-based scalping system based on the "4-Hour Range" strategy.
Scalping 4H Range Pro is a fully automated Expert Advisor designed to trade price reversions following false breakouts of the daily opening range. This strategy focuses on a specific price action pattern: waiting for the first 4-hour candle of the day to establish a range, detecting a "fake-out" (breakout failure), and scalping the reversion back into value.
This EA automates the popular strategy featured by the Data Trader YouTube channel, enhancing it with professional risk management, a live dashboard, and customizable entry logic.
Key Features-
Strategy Dashboard: A professional on-chart panel displaying Strategy Status, Current Range Levels, Daily P/L, and Drawdown in real-time.
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Dual Entry Logic: Choose between Direct Entry (aggressive) or Anchor Candle Entry (conservative confirmation) to fit your trading style.
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Smart Risk Management: Built-in auto-lot calculation based on risk percentage, daily drawdown limits, and maximum daily trades to protect your capital.
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Dynamic Stop Loss: Select between a static Daily High/Low stop loss or a dynamic "Recent Swing Extreme" to tighten risk.
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Visual Trading: Automatically draws the active trading range and entry arrows on the chart for easy visual verification.
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Define the Range: The EA identifies the High and Low of the first 4-hour candle of the trading day.
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Wait for the Fake-out: It monitors price action on the 5-minute timeframe. It waits for price to break out of the range and then close back inside (indicating a false breakout).
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Execute the Trade:
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If price breaks the High and closes back inside -> SELL.
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If price breaks the Low and closes back inside -> BUY.
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Manage the Trade: The trade is managed with a hard Stop Loss (placed at the breakout wick or recent swing) and a Take Profit based on your Reward-to-Risk ratio.
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StartHour: The server hour when the first 4-hour candle begins (usually 00:00 or aligned to New York open).
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EntryMethod: Switch between ENTRY_DIRECT (faster) or ENTRY_ANCHOR (safer, waits for structure break).
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MaxDailyTrades: Limits the number of trades per day to prevent over-trading.
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RiskPercent: The percentage of account balance to risk per trade.
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SLMethod: Choose SL_DAY_EXTREME (safest) or SL_RECENT_EXTREME (tighter stops).
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Open a EURUSD, or Gold (XAUUSD) chart.
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Set the timeframe to M5 (5 Minutes).
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Attach the EA to the chart.
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Crucial: Adjust the StartHour input to match the start of the 4-hour candle you wish to trade (typically the 4H candle starting at 00:00 or 01:00 Server Time).
Forex and CFD trading involves significant risk and is not suitable for all investors. This Expert Advisor is a tool to automate a specific trading logic and does not guarantee profits. Past performance is not indicative of future results. Please backtest thoroughly and use proper risk management.
