Scalping king EA

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Download the setfile here.

This MT5 expert advisor allows you to trade a specific scalping pattern in a fully automated way. The chart patter catches trend reversals above or below a specified Moving Average and uses different filters to increase the win rate.

It works on all Brokers and on all the Symbols, be it forex, indices, commodities, cryptocurrencies etc.

It DOES NOT USE: Martingale, Grid trading and Hedging.

The idea behind this EA is to catch trend reversals and trend continuations after a retracement.

The default settings include an already optimized strategy for the Nasdaq index. It was subjected to a completely natural optimization starting from 2023 till end of 2023 on real ticks, without forcing results to just match a couple of good months.
These results do only represent the past are are at no point a guarantee of future results.

We recommend that you do your own research, testing and optimizations based on your needs.

Setting up your EA

The inputs are expressed in points.

Proportional Stop-loss to the range: puts automatically the SL at a proportion of the range, with a value of 1 it takes the full range, with 0.5 half of it and so on.

Fixed Stop-loss (maximum): maximum allowed size of the SL even if the range gets too big. The EA takes the smallest SL between the fixed and the proportional.

Proportional trailing Stop-loss: size of the trailing SL that is proportional to the SL size. 1= same size as SL

Fixed trailing Stop-loss (maximum): maximum allowed size of the trailing SL. The EA takes the smallest trailing SL between the fixed and the proportional one.

Proportional start of the trailing Stop-loss: size of the trailing SL that is proportional to the TP size. 0.5= Trailing SL strats once price is half way to the TP

Fixed start of the trailing Stop-loss (maximum): maximum allowed level of the start of the trailing SL. The EA takes the smallest start of the trailing SL between the fixed and the proportional one.

Stop-loss following previous candle: if set to true The EA will put the SL at the previous bars Low or High depending on the direction of the trade, on the low for a long position and on the high for a short position. In case of an active trailing SL the EA will choose automatically the closest SL to the actual price. If set to false the EA will not consider the High or the Low of the previous candle.

Proportional Take-profit to the Stop-loss: size of the Take profit that is proportional to the SL. 2= 2 times the size of the SL.

Fixed Take-profit (maximum): Maximum allowed size of the TP. The EA takes the smallest TP between the fixed and the proportional.

Partial Take-profit: fixed level at which to close part of the open position.

Percentage of volume to be closed on partial Take-profit: between 0 and 100. 50 closes 50% of the position.

Maximum Spread to enter: above this spread level the EA does not trade, useful in case of a spread change during the after hours, or if the broker applies variable spread.

Offset +/- from the Range: decide if you want your trade to be executed with an offset to the High and Low of the Range.

ATR Period: choose the period of the Average true range.

Moving average period: choose the period of the MA

Moving average Method: choose MA method

Moving average applied to: choose how the MA is applied, closing price, open price, median price…

Relative close of the candle to the MA: choose what part of the candle has to close above or below the MA; close above means the closing price of the candle, all above means the complete candle does not intersect the MA, extreme above means that he considers just the high and the low of the candle to the MA, no_condition does not consider the MA to enter a trade.

Candle -1 color: Bullish means that for a long position it must be a bullish candle and for a short position it must be bearish; Bearish means that for a long position the candle -1 needs to be bearish and bullish for a short position. Candle all does not consider any color.

Candle -2 color: Color of the candle before candle -1, if set to bearish it means that it should have the opposite color of candle -1. ex. Candle -2 should be bearish and candle -1 bullish to enter in a long position. Candle all does not consider any color.

minimum ATR: if the ATR is below the minimum the EA will not execute the trade.

Maximum ATR: if the ATR is above the maximum the EA will not execute the trade.

Minimum distance to the MA: minimum distance or relative close of the candle to the MA

Maximum distance to the MA: maximum distance or relative close of the candle to the MA

Minimum candle size: if the size of the candle is below the chosen one the EA will not execute the trade.

Maximum candle size: if the size of the candle is above the chosen one the EA will not execute the trade.

Min. difference of extremes same direction of trade: for a long trade takes the minimum difference between the lows of candle-1 and candle -2, for a short trade takes the minimum difference between the highs of candle-1 and candle -2.

Max. difference of extremes same direction of trade: for a long trade takes the maximum difference between the lows of candle-1 and candle -2, for a short trade takes the maximum difference between the highs of candle-1 and candle -2.

Min. difference of extremes opposite direction of trade: for a long trade takes the minimum difference between the highs of candle-1 and candle -2, for a short trade takes the minimum difference between the lows of candle-1 and candle -2.

Max. difference of extremes opposite direction of trade: for a long trade takes the maximum difference between the highs of candle-1 and candle -2, for a short trade takes the maximum difference between the lows of candle-1 and candle -2.

Min. proportional size of candle wick: select the minimum size of the wick proportional to the candle -1.

Max. proportional size of candle wick: select the maximum size of the wick proportional to the candle -1.

Put sl on the extremes of the candle: places the sl on the extremes of candle -1.

Stop-loss following high/low of previous x candles: select if the sl should automatically follow the high/low of the previous x number of 1 minutes candles.

Beginning hour to start trading: choose the hour from which the EA starts trading and creates the range.

Beginning minute to start trading: choose the minute relative to the beginning hour from which the EA starts trading and creates the range.

finish hour to enter in a trade: choose the last available hour to place a trade.

finish hour to enter in a trade: choose the last available minute relative to the finish hour to place a trade.

Close all the trades at the last hour and minute above: if true closes all the trades at the finish hour and minute to enter a trade.

Time frame: Select the timeframe for the patter.

Trading Days: Choose if you want the EA to stop working on a chosen day.

Maximum number of trades in the session: choose how many trades the EA can perform in the session

Stop trading that day after the first winning trade: if set to true the EA will stop trading after the first positive trade.

Close the trade if a new trade enters: if true closes the open trade when a new trade starts.

Allow multiple trades to be opened: if false does not allow to trade the same pattern if already in a trade.

Constant lots: if set to true the EA trades with a constant lot size.

Constant lot volume: volume of the lots if constant lots is set to true.

% of the account balance risked per trade: implies constant lots to false. 1 equals that you risk 1 % of the account per trade and so on.

Magic number of the EA: Choose the magic number of the EA so that you can trade different time based breakouts, each strategy should have it’s own magic number.

Thank you for downloading our EA, we are open for suggestions and to improvements.