PZ Goldfinch Scalper EA MT5

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. [ Installation Guide | Update Guide | Troubleshooting | FAQ | All Products ]

• Simple input parameters for easier optimization
• Customisable trade management settings
• Trading session selection
  
• Weekday selection
• Money management

Beware...

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.

Backtesting

• 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

Input Parameters

• 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.
• Session Settings: Enable/Disable trading on asian / america / europe sessions
• 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
  

Author