PZ Goldfinch Scalper EA
This is the latest iteration of my famous scalper, Goldfinch EA, published for the first time almost a decade ago. It scalps the market on sudden volatility expansions that take place in short periods of time: it assumes and tries to capitalize of inertia in price movement after a sudden price acceleration. This new version has been simplified to allow the trader use the optimization feature of the tester easily to find the best trading parameters.
- Simple input parameters for easier optimization
- Customisable trade management settings
- Trading hours
- Weekday selection
- Money management
Tick scalpers are dangerous because many factors can ruin the payoff. Variable spreads and slippage decrease the mathematical expectancy of the trade, a low tick density from the broker can cause phantom trades, the stop level undermines your ability to secure profits and network lag means requotes. Caution is advised.
- The Expert Advisor uses tick data only. Please backtest in "every tick" mode.
- It does not use HLOC (high - low - open - close) data at all
- The timeframe of trading is irrelevant
- Trigger: Price movement needed to fire a trade, in pips. (default = 10)
- Min Time Window: Minimum time for the price movement to happen. (default = 3)
- Max Time Window: Maximum time for the price movement to happen. (default = 10)
- Breakeven: Pips in profit to perform the break-even. Zero means disabled.
- Breakeven Behavior: Choose either
a) Move the SL to open price or
b) Secure half the profits of the trade
- Trailing Stop: Trailing stop for trades expressed in % of the trade profit at the time
- Trailing Step: Minimum increment in the stop-loss order.
- Stop Loss: Stop-loss in pips, must have value.
- Take Profit: Take-profit in pips. Zero means disabled.
- Trading Hours: Start hour and end hour for trading activity. (0-23)
- Weekday Settings: Enable/Disable trading on weekdays
- Money Management Behavior: Choose either
a) Auto-calculate lotsize for each trade or
b) Trade a manual lotsize on each trade
- Risk Per trade: Risk per trade expressed as % of the account balance
- Manual Lot Size: Manual lot for the trades
- NFA/FIFO Compliant: Enable to trade this EA on US Brokers
- Custom Comment: Custom order comment for the trades
- Magic Number: Number used by the EA to sign and recognize its trades
- Slippage: Maximum deviation in filling prices, in points.
- Manual Pip Value: Override the value of a pip for this symbol, if needed