Irisha Scalper Advisor

The "Irisha" is an Expert Advisor, in which we attempted to implement the ability of trading on smaller timeframes (1-15 minutes). The main idea lies in opening frequent trades and in the ability to "cover" losing trades with profitable ones. However, we had to resort to the Martingale strategy to implement the idea. Due to this, it is recommended to have a large deposit and/or cent account for using this EA.

Operation of the EA on a live account can be evaluated here: https://www.mql5.com/en/signals/229380

Trading Strategy

• The Moving Average (МА) indicator serves as the signal for opening positions. If the opening price of the candle is below the MA and the closing price is above the MA, this is considered to be a buy signal.
• The Relative Strength Index (RSI) indicator is used as the signal filter. If the value of the RSI indicator is lower than 30, and a buy signal was received from the MA indicator, a buy order is opened.
• Change in the direction of market movement. In case the market changes direction after an order is opened, a new buy order will be opened but with an increased lot size.
• Optimal profit level. In case more than one order is opened, the EA calculates the price level, after reaching which the profitable orders cover the unprofitable ones with the minimum profit percentage.

Input Parameters

The following list describes the input parameters of the EA that can be modified and optimized:

• MAGIC (MAGIC number) - identifier of the EA's orders;
• Trade (Trade) - if this parameter is set to false, the EA will not open new orders once all orders are closed by TP or SL;
• (ON Filter RSI) - if set to false, the RSI indicator values are not taken into account;
• Add_Order_Signal (Add new order signal) - if set to true, the new order will be opened by signal when the distance between the price and the initial order level is greater than the value of Step;
• Lots (Initial Lot Size) - lot size of the initial order;
• LotExponent (Multiplication, odds lot) - multiplier for the volumes of subsequent orders;
• TakeProfit (Profit level (in points)) - take profit level;
• StopLoss (Loss level (in points)) - stop loss level;
• Step (Distance between orders (in points)) - the minimum distance between orders;
• MaxOrders (Maximum number of open orders) - the maximum number of opened orders.

You can also adjust the parameters of the Moving Average and Relative Strength Index (such as period, price type, shift, MA method) according to your needs.

The settings of the Moving Average indicator contain the MA_MODE (Definition mode) parameter. It sets the type of the MA indicator usage and has the following options:

• Intersection - signal is generated when a candle crosses the indicator line;
• Price - signal is generated when the price is located above or below the indicator line;
• Directing - signal is generated by the direction of the indicator line;

Settings of the Relative Strength Index include the parameters for overbought (Level overbought) and oversold (Level oversold) levels, and also the RSI_MODE (Definition mode) parameter, it defines the usage type of the RSI indicator for calculation, which has the following options:

• NONE - oversold area above 50, overbought area below 50;
• Levels - oversold area above the 'Level overbought' parameter, overbought area below the 'Level oversold' parameter;
• NeutralZone - trades will be opened only when the RSI value is between the values of 'Level overbought' and 'Level oversold' parameters;
• Trend - determines the direction of the RSI indicator (Example: if the opening RSI (оRSI) is below the closing RSI (cRSI), the trend is ascending. If the opening RSI (оRSI) is above the closing RSI (cRSI), the trend is descending);
• TrendLevels - uptrend based on the RSI indicator is above the 'Level overbought' parameter, the downtrend based on the RSI indicator is below the 'Level oversold' parameter;
• TrendNeutralZone - uptrend or downtrend based on the RSI indicator is between the values of 'Level overbought' and 'Level oversold' parameters.