This EA works with internal logic, no additional indicators needed.
After 4000 downloads reached by the older version I decided to re-code the same EA to a newer edition: the entry logic is the same but now it can be managed by an input value.
With this new version a "reverse martingale" has been added. How it works? Unlike the dangerous martingales used by many EA's that double up the lot size in game after a loss, this EA will do exactly the opposite: after a profitable trade it will increase the lot size up to 3 times following an automated Money Management system.
Another functions has been added: "virtual stop". This functions will stop-out the loss trades by an integrated formula based on the Risk used in addition to the standard StopLoss.
Here is the explanation of the input values:
- Risk - Risk percent based on Balance.
- TrailingStop - The more is low the better it works. Some brokers does not accept the default value and you'll be prompted to increase it.
- StopLoss - This saves money against spikes or huge loss.
- OpenValue - Value used for entry. High values = less trades, more precision. Low values = more trades, more errors. This value must be optimized by backtesting.
Like any scalper EA, it is suggested to use low latency and low spread brokers.
-Display info like live spread (red color if above MaxSpread value).
-MaxSpread value calculated as integer instead of double.
Ie. MaxSpread 10 = 1 pip (as the same as MT4 backtest value is shown).
Added some other function related to the risk settings: