I have been developing, testing and correcting this automated scalping system for a long time: https://www.mql5.com/en/signals/author/test-standart. The most stable results have been achieved on currency pairs with Swiss Franc, which means higher profitability and lower drawdown as compared to other symbols.
Highlights to pay attention to
1. During live operation of the EA, the GMT offset parameter is determined automatically based on a local time of the computer (GMT_Offset_AUTO=true).
This parameter provides synchronization of the EA settings with the MetaTrader 4 server time.
To ensure the correctness of settings, it is necessary:
- to compare the GMT time in EA information area on the chart of the currency pair the EA is attached to with http://time.is/GMT (or other reliable source).
- If the values do not match, then set GMT_Offset_AUTO=false and set the value of GMT_Offset_Manual according to the instructions in https://www.mql5.com/en/blogs/post/682539
2. In order to activate the News filter function, enable "Allow WebRequest" and add https://sslecal2.forexprostools.com/ to the URL list for WebRequest.
To do this, open Tools > Options > Expert Advisors. Check the option "Allow WebRequests for listed URL:". Add https://sslecal2.forexprostools.com/ and click OK.
The expert contains news archive (1/1/2015 - 7/10/2017) which is used in the test.
3. By default, in the EA settings, the risk per trade is set to 3.6%.
After testing on real accounts, this parameter can be changed depending on your preferences. I recommend using a fixed lot or a recovery money management.
4. The EA works on any timeframe equally well as it automatically takes the necessary data from multiple timeframes.
As the EA uses multiple timeframes for the analysis, it is necessary for the quotes of all timeframes (M1, M15, M30, H1, H4) to be downloaded in the terminal for testing. At the same time, the testing itself can be performed on any timeframe.
5. For brokers following the "First In First Out" rule, enable the parameter FIFO_MODE = true.
6. The EA writes down information about spread, slippage and other useful information at transactions, and also at a possibility of transactions.
It is necessary for record of this information: to set the Record_Deals = true;
It is necessary for viewing of this information:
- to set the Record_Deals = false;
- to go to the folder of the terminal: MQL4/Files and open the required file;
- after viewing, close the file and set Record_Deals = true for the subsequent record.
7. For the correct testing of the EA with the default settings or AUTO_PARAMETERS=true, it is necessary to adhere to the following conditions:
- If the quotes for testing have been downloaded with a different seasonal GMT offset (it usually happens when you download quotes in conventional manner in the terminal; quotes are downloaded according to the broker time and almost all brokers change the time) then it is necessary to consider the following settings:
- GMT_Offset_Manual - GMT offset in winter;
- Adjust_DST_Universal=true - enable DST_Offset;
- DST_Offset=1 - increases GMT_Offset_Manual by one hour in summer. Dates of approximate transition are defined in the following parameters:
- Month_start = 3;
- Day_start = 27;
- Month_end = 10;
- Day_end = 30.
- GMT_Offset_Manual - constant GMT offset (in our example: GMT_Offset_Manual=0);
- Adjust_DST_Universal=false - disable DST_Offset.
The full list of parameters can be found in the blog: https://www.mql5.com/en/blogs/post/689512
2. The parameter limiting the minimum transaction lifetime: "not_close_transaction_number_second".
3. In the AUTO_PARAMETERS mode, it is possible to change all the parameters in the "Common Parameters" block.
4. Downloaded the news archive (1/1/2015 - 7/10/2017) for testing with the news filter enabled.
2) Skipping holidays.
3) Field for entering currencies in the filter of news.
4) Skipping the beginning and end of month.
2) block of parameters: "Trailing Stop";
3) additional filter on an entrance to the transaction: "add_filter_of_entrance";
4) option of alternative settings at the included mode "AUTO_PARAMETERS": "Alternative_Set_at_AUTO".
2) Ability to close a profitable transaction at any spread.
3) The internal improvements to prevent the EA incorrect operation in emergency.
2) Added the ability to select the trading direction (Buy or Sell).
2) Parameters of the maximum spread can be changed if AUTO_PARAMETERS=true.
2) The recommended currency pairs: EURCHF, USDCHF, GBPCHF, EURCAD, CADCHF, GBPCAD.
2) Added option to record the information of the expert (opening / closing of positions), to a file for future analysis.
3) Ability to set a custom maximum opening spread and closing spread for BUY and SELL positions.
4) When back testing, a custom date can now be assigned for the beginning and end of DST (Daylight Savings Time) for more accurate back testing results.
5) Added the ability to limit open positions in time.
2) Added the ability to set the pause in the time interval for opening orders.
2) The number of strategies is increased (more transactions).
3) Magic numbers and comments to strategies can now be set manually and in the AUTO mode.
2) Parameters are divided into two blocks for simplicity of setup:
◾MANUAL_PARAMETERS - block of parameters to be filled manually;
◾AUTOMATIC_PARAMETERS - block of parameters recommended to be set automatically (AUTO_PARAMETERS = true).
Safety_StopLoss = 2*StopLoss, Safety_TakeProfit = 1.2*TakeProfit.