Euro Scalper MT4
The Expert Advisor calculates the width of the trading range for the last day and evaluates the price movements (pulses) on short time intervals. If the value of a pulse exceeds a specified percentage of the trading range, it opens a position in the direction of the pulse. Pulses are also filtered using a special algorithm.
The algorithm uses explicit control of bars - trading is performed on the formed bars only. This protects the test results from errors in the tick history and increases the speed of testing and optimization as they can be run in Open prices only mode.
Timeframe - M5, pair - EURUSD.
MetaTrader 5 version here.
- Magic - magic number allowing the EA to define its own orders in the trading platform. It is necessary when several EAs are working in a single platform or an automatic trading is combined with a manual one.
- Percent - impulse value (% of the trading range).
- TakePercent - take profit for newly opened positions (% of the impulse value).
- StopPercent - stop loss for newly opened positions (% of the impulse value).
- Stop - maximum stop loss of the newly opened positions in points. The parameter is used if stop loss value calculated as % of the impulse exceeds this value.
- Tral - trailing stop level in points.
- Lots - fixed lot of the newly opened positions if ММ is not used.
- PartCloseLevels - number of levels for closing by profit.
- DigitsInLot - number of decimal places in a lot.
- GMT Offset - trade server shift relative to GMT.
- MM - money management; set the percentage of re-investing the profit gained during trading. If ММ=1, the lot is 0.1 per each $1 000 of the deposit. If ММ=1.5, the lot is 0.15 per each $1 000 of the deposit, etc. If ММ=0, money management is not used. The trading is performed by a fixed lot set in Lots parameter.
- Info - show/hide the info panel on the chart.
2. Added spread filtering - SpreadLimit (0 - disabled).
PartCloseLevels - the number of the closing levels of profit.
DigitsInLot - the number of digits in the lot after the decimal point.
GMT offset - the offset of the trade server relative to GMT.
GMT Offset default set at +2, Eastern-European standard (winter) time (EET), which are trading servers Alpari, Forex4you, InstaForex in Russia. For time zones that are located to the West of GMT offset is specified with a minus sign, for example, USA/New York Eastern time (EDT) up gmtoffset = -5.
If you do not know at what time does your trading server, simply run the optimizer parameter GMT Offset, from -12 to +12, and select the best value on the profit factor.