Hi and welcome to Anchor Scalper !
The EA does not use martingale or grid. It only enters a trade with pending orders and uses a stop loss for each trade!
I learned this strategy from ForexSignals (Check them out on their youtube channel ForexSignals TV for this strategy and many more.) and decided to create an expert advisor on it.
Before I go any further I want to mention that I'm not affiliated with the above mentioned channel or company.
This EA uses the Moving average indicator as an confirmation signal and as an "Anchor" on the H1 chart for a simple and clean scalping strategy.
"Anchor" refers to the correlation of signals between the higher time frame and a lower one received from the indicator. A valid trade is executed only if the signals expressed are the same on both time frames.
To open an Sellstop pending order to occur, the price must be below the fast moving average and both of them below the slow MA in order for a sell trade to occur. For the Buystop is exactly the opposite, Price > FastMA > SlowMA.
Recommendations of use
Time frame - M5, M15;
Account balance - Doesn't matter;
Currency pair - Doesn't matter ;
Anchor Scalper features
- Multiple user options
- Choose the active and the inactive trading hours (in hh:mm - format).
- Comes with a Dynamic StopLoss function that moves the stop loss automatically at break even when the first take profit is reached.
- You can modify the maximum Risk per trade.
- Lots can be manually set.
- Orders are automatically opened and closed by this EA based on the market and the MA indicator.
- This EA works on all time frames (I recommend using it on M15 and M5 ) and currency pairs.
A more detailed explanation of the strategy is found on the link provided to ForexSignals channel.
Anchor Scalper User Options
START_TradingTime The start of active trading hours in hh:mm format.
STOP_TradingTime The start of inactive trading hours in hh:mm format.
DynamicStoploss = True (Disable or Enable the Dynamic StopLoss function);
Risk = 2; (Maximum risk allowed per trade);
FixedLots = 0.0; (Change this if you want to set the lot size manually, leave it at 0 and will set it automatically based on risk);
Slow_MA_Period = 21; (Number of candle for Slow MA calculation);
Fast_MA_Period = 8; (Number of candle for Fast MA calculation);
MA_Mode = 0; ( 0- Simple averaging; 1- Exponential averaging; 2- Smoothed averaging; 3- Linear-weighted averaging);
MA_Price = 0; ( 0- Closed Price; 1- Open Price; 2- High price; 3- Low Price; 4- Median Price; 5- Typical Price; 6- Weighted Price);
Check the user options and change them to your preference