Smart SL Scalp Assistant is a semi-automatic helper for discretionary scalping on MT5. It is not an automated trading system. You decide when to enter and when to exit; the EA takes care of the work around that decision: sizing the lot from your risk, sending orders and closing them in one click, and showing the state of the account in one place.
1. Read this first
- This is not an automated EA. It never opens a position unless you press a button.
- The arrows on the chart are not entry signals. They mark candidates for a pullback or a retracement, so they are easier to spot. The trading decision is yours.
- The displayed loss is an estimate. A stop order does not guarantee a fill. Slippage, gaps, the broker's stop level and execution conditions can make the real loss larger than shown.
- Profit and loss figures include swap. Commission is not included, because it is not known until the position is closed.
2. Installation
- After the purchase, the EA appears in MT5 under Navigator - Expert Advisors.
- Open the chart of the symbol you want to trade and drag the EA onto it.
- Tick "Allow Algo Trading" and press OK. The "Algo Trading" button on the toolbar must be on as well.
- A smiling face in the top right corner of the chart means the EA is running.
Language: the default is Auto, which follows the MT5 interface language. Japanese, English, Simplified and Traditional Chinese, Korean, Spanish, Portuguese, Russian, German, French, Italian, Turkish, Indonesian, Vietnamese and Thai are supported. You can fix the language with the Chart UI language parameter.
Suggested timeframes: M1 to M15. The signal module is designed for M5 to M15.
3. The screen
3-1. The top row
From left to right:
| Button | What it does |
|---|---|
| BUY / SELL | Enters immediately with the displayed lot |
| CLOSE ALL | Closes every position (asks for a second click) |
| CLOSE PROFIT | Closes only the positions that are in profit |
| CLOSE LOSS | Closes only the positions that are in loss |
| P1 - P5 | Closes one position each. Its P/L is shown underneath |
| Risk % | Click the box and type a value (0.1 - 10.0 %) |
| MTF | Shows or hides the MTF lines and signal arrows |
| A+ | Enlarges the text and the panel |
CLOSE PROFIT turns green while a profitable position exists, CLOSE LOSS turns red while a losing one exists. They stay grey when there is nothing to close.
3-2. The SL line (red) and the TP line (green)
Drag the red SL line with the mouse. Where you put it is where your stop goes, and the lot is calculated from that distance. The green TP line follows automatically from the SL distance and the risk reward ratio.
3-3. The STATUS panel (right side)
- Lot, risk (used and remaining)
- SL price and estimated loss, TP price and estimated profit
- Number of open positions, total lot, current P/L
- Balance, equity, spread
- Whether an entry is possible right now, and the reason when it is blocked
- Signal state
Drag the header to move the panel. Double-click the header to send it back to its original place.
3-4. Signal arrows and MTF lines
The 10-period moving averages of M15, H1 and H4 are drawn on your chart, and arrows mark pullback candidates. The MTF button hides these drawings only - the logic and the alerts keep running.
4. How to use it
- Set your risk. Click the risk % box in the top row and type a value. The default is 2.0 %.
- Place the SL line. Drag the red line to where you want your stop - below the last swing low for a buy, for example.
- Check the lot. Look at the lot and the estimated loss on the panel and make sure the loss fits the risk you accept.
- Enter. Press BUY or SELL.
- Exit. Use P1 - P5 for one position, or CLOSE ALL / CLOSE PROFIT / CLOSE LOSS for several.
Only BUY is available while the SL line is below the price, and only SELL while it is above. The other button is greyed out.
5. How the risk works
Lot sizing is the heart of this tool.
- The risk % is the total for all positions once the maximum number is open. The share of one position is "risk % divided by maximum positions".
- Example: 2.0 % with a maximum of 5 positions means 0.4 % per position.
- With a 10,000 balance, 2.0 % risk, 5 positions and a 20 pip stop, one position may lose 40. That is roughly 0.02 lots on a major pair.
- An entry that would exceed the total risk is refused. The panel shows why, and the remaining budget is always displayed.
- If even the minimum lot (0.01) does not fit the remaining budget, no order is sent. If it fits, the minimum lot is used.
- When the maximum number of positions is reached, both BUY and SELL turn grey.
A smaller risk % means a smaller lot. A wider stop also means a smaller lot.
6. Closing positions
CLOSE ALL (two clicks)
To prevent a misclick, the first click only turns the button red and changes it to "SURE?". A second click within 3 seconds closes everything. The button disarms itself after the timeout, when another button is clicked, or when no position is left.
Set CLOSE ALL: ask for a second click to false to go back to a single click.
CLOSE PROFIT / CLOSE LOSS
Closes only the winning or only the losing positions. Useful to bank what is green and keep the rest, or to cut the losers and let the winners run.
P1 - P5
One button per open position, in the order they were opened, with that position's P/L underneath.
7. AUTO SL
Finds the latest swing (fractal) and moves the SL line there.
- BUY AUTO SL places the line slightly below the last swing low.
- SELL AUTO SL places it slightly above the last swing high.
- Press the same button again to step back to the swing before that. When there is no older confirmed swing, a message appears and the next press starts again from the nearest one.
The MANUAL SL button switches to free dragging of the line.
8. The signal module (for reference only)
Pullback signals
The EA watches touches of the 10-period moving average on M15, H1 and H4. For a long:
- A touch of the M15 10MA requires M15 > H1 > H4 (all three lined up).
- A touch of the H1 10MA requires H1 > H4.
- A touch of the H4 10MA requires the H4 10MA to be rising.
A touch by the wick counts. A break of the average is still valid if price returns within a few bars. On top of that, the EA checks the structure on your chart timeframe (higher highs and higher lows) and the shape of the rejection candle before it draws an arrow. No long arrow is drawn inside a falling structure.
Re-acceleration signals
An arrow appears when price starts moving in the trend direction again after a pullback.
Alerts
By default only a sound is played; pop-ups and push notifications are off. While Signal alerts: strong signals only is true, only signals with several reasons behind them raise an alert.
9. Other features
MA proximity alerts (3 slots)
Tells you when price comes within a set distance of a chosen moving average (by default the 200 MA on M15, H1 and H4). After an alert, the next one waits until price has moved away by the Alert rearm multiplier distance.
Spread filter
While the spread is above the limit, new entries are blocked and the panel says so. This keeps you out of the abnormal spreads around news releases.
One-click delete for your own lines
A small delete button appears next to every horizontal or trend line you draw after the EA starts. A "delete all" button removes the registered lines at once. Lines that existed before the EA was attached are never touched.
Enlarged view
Makes the text and the panel bigger, which helps on a high resolution monitor.
Hotkeys (off by default)
Set Hotkeys to true to use them.
| Key | Action |
|---|---|
| Shift+B / Shift+S | BUY / SELL |
| Shift+C | CLOSE ALL (with the confirmation) |
| Shift+1 to 5 | Close P1 - P5 |
| Shift+Z / Shift+X | AUTO SL for BUY / SELL |
| Shift+M | Manual SL mode |
| Shift+V | Show or hide the MTF lines and arrows |
10. Main parameters
| Parameter | Default | Meaning |
|---|---|---|
| Chart UI language | Auto | Interface language |
| Magic number | 26091410 | Identifies the positions this EA manages |
| Total risk limit | 2.0 | Total risk %, the starting value of the on-chart box |
| Allow multiple positions | true | Allows more than one position |
| Maximum positions | 5 | 1 to 5 |
| Risk reward ratio | 1.5 | Where the TP goes, as a multiple of the SL distance |
| Slippage in points | 20 | Accepted slippage |
| Use asynchronous fast execution | true | Faster sending, especially when closing several positions |
| Trade click guard | 250 | Milliseconds that block a double order from a double click |
| Enable spread filter | true | Spread filter |
| Initial SL distance | 20.0 | Distance of the SL line at start, in pips |
| CLOSE ALL: ask for a second click | true | Misclick guard |
| Pullback signal arrows | true | Pullback and retracement arrows |
| Show M15/H1/H4 10MA lines | true | MTF lines |
| Show the notification TEST button | false | Notification test button |
11. FAQ
Q. BUY and SELL are grey and I cannot click them.
A. One of these: the SL line is on the wrong side of the price, the maximum number of positions is reached, the remaining risk budget is too small, or the spread is above the limit. The panel states the reason.
Q. The lot is larger or smaller than I expected.
A. Check the SL distance and the risk %. In the Strategy Tester, also untick "Calculate P/L in pips" in the settings - lot sizing does not work correctly in that mode.
Q. Alerts do not appear in the Strategy Tester.
A. In the tester, pop-up alerts are written to the Journal and push notifications are not sent at all. That is how MT5 works.
Q. Push notifications do not arrive.
A. Set Show the notification TEST button to true. A TEST button appears at the bottom left; press it to send a test message. If nothing arrives, check your MetaQuotes ID under Tools - Options - Notifications.
Q. Does removing the EA delete my lines?
A. Only the lines and buttons the EA created are removed. Lines you drew yourself stay.
Q. Can it average down or martingale?
A. No. Every entry stays inside the total risk you set, and anything beyond that budget is refused.
12. Support
Please post questions and problem reports in the product comments on MQL5, or send a message through mql5.com.
Disclaimer: this EA is a trading aid. It does not guarantee a profit. The trading decisions and their results are your own responsibility. Always test it on a demo account before using it on a live one.
