Extremum Scalper is a fully automated Expert Advisor for netting account, that uses a strategy of breakout/rebound from the levels of daily and local extremes, and the candlestick Highs. The price Highs and the tick volume serve as the analyzed parameters.
- Works in different markets with all trade execution modes.
- Does not use martingale or hidden methods of increasing the position volume.
- The EA has 8 different extremum calculation algorithms.
- Uses protection against drawdown, slippage control and spread filter.
- Flexible settings allow you to create your own scalping strategy.
Full description https://www.mql5.com/ru/blogs/post/680564
- Trade Direction - selection of the trading direction Buy/Sell/Both.
- Maximum Risk 10 serial losses - the maximum risk on a losing series of 10 orders in percent..
- Fix LotSize - fixed lot, used if Maximum Risk 10 serial losses = 0.
- Maximum Daily Loss and Maximum Daily AverageSlippage – maximum allowed daily losses and slippages. If not equal to zero - when reaching the specified values, the EA will take a trade pause and go into the standby mode until the next day.
- Spread Filter – Maximum allowed spread for opening orders. Disabled if set to 0.
- Add Spread - when enabled, the current value of the spread will be added to the stop loss, take profit and parameters of trailing
- Strategy – the LocalChannel, DaysPlusChannel, GreedChannel strategies - differ in the number of simultaneously set levels. These modes are sensitive to spreads and the size of commissions on the account. The MaxPoint, MaxVolume, MaxSize, StaticSize and CandleMix modes are based on detection of the maximum values of the corresponding parameters of the current candle, the size of which is controlled by the Extremum Candle Size setting. These modes are more resistant to the size of spread, but the number of trades on them is considerably lower than in the previous modes.
- Extremum Range – the number of candles (range) to search for extremums.
- The Period of placing orders – the time period after which the EA checks the conditions for placing new pending orders.
- The Maximum Period of existence orders- the lifespan period of the pending order.
- Minimum Distance of placing orders – the minimum distance from the price to place an order. If set to zero, it will be calculated automatically.
- HighCorrection,LowCorrection – distance from extremums to place the order. It can take both a positive and negative value.
- Use Rebound orders – use the extremum level rebound strategy.
- Rebound place Mode – rebound order placement mode. Candle - the order will be placed on the High/Lowof the previous candle. Stop - the order will be placed on stop-loss level of the main order.
- The position tracking frequency – parameter responsible for the frequency of modification of an open position. The EA code is written so that various calculations and checks occur in different event streams. When the stop order becomes an active position, the EA focuses on trailing the trade in a loop with a frequency in milliseconds specified in this parameter. To properly adjust the frequency, look at the "Journal" tab of the terminal after the first trade. The time which the trading server used for processing your order will be displayed there. The parameter value will be equal to (the time) * 0,75. Check the journal again after the next trade. It should not contain [Too many trade requests] errors. If there are - increase the frequency. A few [invalid stoploss] errors might be present. This is normal, it means that sometimes a request for order modification happens faster than the order state is added to the trade server log, which allows to modify the order without waiting for new ticks.
- Trade LOG LEVEL - logging mode, responsible for the amount of information output by the EA, which can be seen in the "Journal" and "Experts" tabs.
- Acceleration of the optimization and testing - allows to speed up optimization and testing. When enabled, the 'Maximum Daily Loss' and 'Maximum Daily AverageSlippage' parameters will not be considered during optimization and testing.
- Priority timeframe - M30,H1, currency pair EURUSD.
- The EA automatically detects the number of decimal places, therefore the values in the settings are specified in 4-digit points, which will be automatically multiplied by 10 for 5-digit quotes. Exceptions are Maximum Daily AverageSlippage and Spread Filter(pips), which should be specified in the minimal price units and which will be comparable to what you see in the info bar.
- Test Results of the Expert were received using the default settings on the quotes of a standard account with an increased spread (15-25 on average) and with the spread filter disabled. The low rental price of $20 is only for the first month, to evaluate our product.
1) The auto-calculation value of spread filter.
2) The possibility of closing inactive transactions over a certain time.
3) Ability to determine the trend using ADX (faster method)
4) Code optimization, especially working with ZigZag.
5) Added additional filter to control a threshold value of stop loss and fine-tuning non-Forex market.
6) Additional parameters for Rebound orders, as well as improved opening logic.
7) Added filter for the damaged ticks that can be used when testing EA in the "Every tick based on real ticks" mode.
8) Added some additional checks to improve the security of your account.
9) Added a block of statistics, where you can get more information about deals. Сalled by pressing "i" button on the info panel.
10) Updated and expanded the EA description.
1) Fill Policy - change order filling policy.
2) Spread filter Sensitivity - set the spread filter sensitivity. Also, orders are now saved (before reset) before the filter is removed.
3) Custom Seconds - new mode in Orders lifetime allowing you to set an order lifetime in seconds.
4) Trailing for TP - trail take profit level.
5) Trailing mode - manage trailing start cycles.
6) Rebound-orders lifetime - set rebound order lifetime.
7) Pause 1,Pause 2 - set trading pause time. Changed the trading time management. Also, orders are now saved before pauses and after a trading session end. Added ability to set broker's time zone for the time settings.
8) Significantly revised the slippage compensation and deal tracking systems.
9) NewsTime - new strategy for news trading fans.
10) ZigZag - new strategy based on extreme value calculations using ZigZag indicator.
11) Trade LOG LEVEL now features a new mode, at which only the EA messages are shown on the Experts tab.
12) Improved and updated the new description.
13) Fixed all currently known errors.
Improved the trade maintenance and safety of the deposit.
Distance correction to the placing level
The placing Rebound triggered by slippage
Rebound StopLoss Mode
Sound Alerts-added sound alerts.
More details in the updated description.
Now, orders will be deleted only if the strategy is changed in the EA settings,
or if the timeframe the EA is attached ti is changed.
Improved the spread control. Now, when the spread is high the EA deleted the nearest order and not all at once.
1)Added 'Trend following' and 'Against the trend' to the selection of the trading direction
The Double Exponential Moving Average is used as a trend indicator, the parameters of which can be found in the settings.
2) Added real-time slippage control (the Critical Slippage parameter). If a slippage greater than this parameter is detected, the trade will be closed immediately.
3) Added the ability to select the dynamic stop loss (StopLoss Mode), where it is automatically calculated based on the Hi/Lo of the current and the previous bar.
In order to use a static stop loss from the settings - set this parameter to 'FromSetting'.
4) The strategy that uses the rebound order now includes the ability to place limit orders on the breakout rebounds (Rebound).
Changed the default settings according to new features.
new menu item:
Acceleration of the optimization and testing - allows to speed up optimization and testing. When enabled, the 'Maximum Daily Loss' and 'Maximum Daily AverageSlippage' parameters will not be considered.
Trade Direction – allows to select the trading direction.
The Maximum Period of existence orders Trade Direction – allows to set the lifespan of the pending orders.