Asia Smart is a multi-currency scalping system, which trades at the end of the American and at the beginning of the Asian sessions. The strategy of the EA is based on conservative trading of the currency pair retracements after the price reaches certain areas of a custom channel. The EA can only hold a maximum of two open orders per each currency pair and always sets a protective stop loss for all trades. A good ECN account is recommended (see the "Tips and Recommendations" below).
Key Advantages of the EA
- The EA works on multiple currency pairs, which diversifies the risks of the trader.
- Optimized for the current spread during the Asian session.
- Martingale, grid, hedging and similar strategies are not used by this EA.
- Always uses protective stop loss.
- Already optimized for nine currency pairs.
Settings of the Expert Advisor
- FixedLot — fixed lot for order opening.
- AutoLotSize — automated lot calculation. If "True", then the EA will calculate the Lot sing the parameters "PerEquitySize" and "InitialLot"; if "False", the EA will use a fixed lot.
- InitialLot and PerEquitySize — lot per certain deposit amount. For example, if "ForEquitySize" is set to 450, and "InitialLot" = 0.01, this means that the lot of 0.01 will be used for every 450 units of the deposit. With the balanced of 900 the lot will be 0.02. For 1350 lot=0.03, for 1800 - 0.04 etc.
- TakeProfit — number of profit points, with which the EA shall close an open order.
- StopLoss — number of loss points, with which the EA shall close an open order.
- TrailingStop—In true, allowing you to get the most out of each movement.
- TrailingStart — initial level to activate the trailing stop.
- TrailingStep — Trailing Stop step.
- BreakEven — number of profit points, with which the EA will move a stop level to the order open price.
- EETorEETS_offset — time offset of your broker from the Eastern European Time / Eastern European Summer Time (more details in the "Tips and Recommendations").
- Europe_DST — parameter created mainly for tests. If your broker does not automatically translate the time of its terminals an hour forward in the summer, you should enable this parameter when testing the EA.
- ChnD — custom indicator value (for 4-digit broker delete the last digit).
- MaxSlippage — maximum allowed slippage.
- MaxSpread — maximum allowed spread.
- Magic — a unique numeric code assigned to orders to distinguish between orders of different EAs.
- TradeOnFriday — if True, the EA is allowed to trade on Friday.
Tips and Recommendations
- First of all, this is a night scalping system, so you need a broker that provides a good ECN account with the lowest spreads during the Asian session. However, the expert does not require some sort of mythical low spread, which is possible only on demo accounts. The Expert Advisor has been optimized for the spreads of these night markets.
- For broker that use the GMT+2/GMT+3(DST) server time for their terminals, it is not necessary to change the time settings. However, if your broker uses a different time zone, you just need to specify the difference between the terminal of your broker and the EET in the "EETorEETS_offset" parameter. For example, if the terminal of your broker shows "20:00", and the current Eastern European time is "23:00", the difference between the time of your broker and EET will be -3 (20:00 - 23: 00 = -3). Therefor the correct value for the "EETorEETS_offset" parameter will be "-3". Again, there is nothing complicated in the time settings. Simply use this formula: ("Your broker's time" - "Eastern European time" = value to specify in "EETorEETS_offset").
- Do not forget to look in the "Comments" section. There you can download the set files for the EA and find more information about the recommended brokers.