AZscalper is an automatic Expert Advisor that works using pending orders. It has an advanced algorithm that uses the price like the principal indicator, in fact, during a substantial price movement (it doesn't matter if up or down), it places pending orders in both directions.
This system has a preset small Stop Loss and big Take Profit, and the closure of the positive trades is reached by Trailing Stop. AZscalper works well on EURUSD, EURJPY, USDJPY and GBPUSD currency pairs with best result on M5 timeframe.
You can trade with fixed (MMmode=false) or automatic lot by setting the risk % on money management system (MMmode=true).
The backtests shown below were performed with the default settings. As you can see, in the first gift we have the starting capital of $100 and 0.01 fixed lot size, and in the second gift we have the starting capital of $2000 and auto lot size in accordance to the chosen risk of 15%. Leverage 1:400.
You can do the backtests and you will have similar results.
- MMmode - if false, fixed lot size is open, if true, the lot size depends on Risk % of free margin
- Lot_Size(MMmode=false) - traded lot size
- Risk% of Free Margin (MMmode=true) - risk % of free margin to determine the lot size
- Max_Lot - max dimension of a traded lot
- Max_Spread - how many pips of spread allowed to open position
- Max_Slippage - how many pips of slippage allowed
- Stop_Loss - how many pips in loss to exit
- Take_Profit - how many pips in profit to close trade
- Trailing_Stop - distance of the stop loss in pips from the current price when it is in our favor
- Trailing_Step - step in pips to follow the current price
- Trailing_Start - distance in pips from opened order to enable the trailing stop
- Delta_Pips - increase/decrease of the price in pips to place pending orders
- Number_Of_Orders - how many pending orders to place
- Step_Orders - distance in pips between orders
- Expiration_Pending_Order (minutes) - time (in minutes) to cancel orders
- Magic Number - unique number to recognize orders