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Eagle Scalping

Eagle scalping is a fully automated Expert Advisor based on 3 EMAs and supporting 4 and 5-digit quotes.

This EA provides the best results in an uptrend or a downtrend market.

 

Main features:

Scalping M5, M15 (best results M5)

-Main Pair EUR/USD and any other pair

-Money management (Risk reward and ratio % based on the account free margin)

-Break Even and Trailing Stop

-Days and Time Trading Management

Recommendations

  • EA Settings: Use default settings or the set file provided.
  • Symbol: EURUSD
  • Time Frame: M5
  • Brokers: ECN brokers, low spread/commission, 1:200-500+ leverage
  • No Minimum Deposit required: Risk ratio is computed based on trading account balance-equity

It is recommended to do your backtest with MT4 data and your Broker and adjust the parameters accordingly.

 

Parameters  
G1=EMA Parameters  

FMA_Period=10

Fast EMA

TMA_Period=21

Trigger EMA

SMA_Period=50

Slow EMA

MA_Mode=1

Default EMA=1

Shift=0

The EA allow only one Trade per Candle

Shift, F=0

Set to 0 (zero) for the current candle

Shift,1=0

Set to 1 for the last fully formed candle

Shift,2=0

Set to 2 for the candle formed before 1 (one)

 

G2=EMA Distance Parameters

 

TS_MinDist=50

Min distance between the Trigger and Slow EMA (21,50)

TS_MaxDist=120

Max distance between the Trigger and Slow EMA (21,50)

 

G3=Trading Parameters  

AllowTrade=True or False

Allow EA to trade

AllowMultiple=True or False

Allow multiple trades. If Enable the MaxBuyTrade and MaxSellTrade are not used

AllowBuy=True or False

Buy trades allowed

AllowSell=Ture or False

Sell trades allowed

TakeProfit=44

Take Profit

StopLoss=44

Stop loss

MaxBuyTrade=2

Max BUY trades allow

MaxSellTrade=2

Max SELL trades allow

Range Over FMA

Range in pips above the Fast EMA

MagicNumber=56732

EA Magic number

 

G4=Money Management Options  

Default Lot=1

Static lot size. If set to static, consider the lot sizes

1=100K, 0,1=10K, 0,01 = 1K. Need to disable the ‘UseMoneyManagment’ by setting it to 0 (zero)

UseMaxLot=True or False

Max Lot size to limit the max lot size allowed per trade

MaxLot=10

Max lot size - set to 10 Lot (1M contract)

UseMoneyManagement=True or False

Automatic Money Management based on the RiskPercent and the account free margin

RiskPercent=3

The RP and the StopLoss are directly related to the lot size to ensure that each new position represents the settled risk % of account free margin.

Ex. If your free margin is 1k (USD) and you risk is 2% and your StopLoss is 20 pips then your lot size is going to be 0.1 Where each pip value = 1USD. Then if you lose your position by the StopLoss, you're going to lose only 20USD that represents the 2% of your account free margin

Slippage=3

The “slippage” parameter is how many points you’ll allow the trade to slip and still complete the order

 

G5=Break Even Options  

UseBreakEven=True or False

Breakeven allow protection of initial risk amount to the entry price.

BreakEven=3

Sample of BE at 3 pips from the entry price. Adjust based on trade management (conservative 1X Risk Amount, Moderate 0,75X Risk Amount or Aggressive 0,5X Risk Amount)

 

G6=Trailing Stop Options  

UseTrailingStop=True or False

Usage of Trailing Stop – to follow the price movement and lock more profit.

TrailAllPositions=True or False

Trail all positions (buy/sell)

TrailingWhenProfit=True or False

Use the TrailingStop when in profit

TrailingStop=4

Set the Trailing Stop 4 pips away from the current price

TrailingStep=1

Set the Trailing Step 1 pip at the time following the current price

 

G7=Operation Time Parameters  

UseNotTradingDay= True or False

Define Days to NOT trade

StartDayWithoutTrading=15

Starting day for no trades

StopDayWithoutTrading=18

End day of no trades

UseOperationTime=True or False

Define Time to trade

StartOperTime=03:00

Starting time to trade (please check Broker Timezone)

StopOperTime=19:00

End time to trade

UseSleepingTime=True or False

Define Sleeping time for NO trades

StartSleepTime=12:00

Starting time to NO trade

StopSleepTime=13:00

End time to trade

UseMandatoryClosing=True or False

Set to close all open trades at a given time (end of day)

MandatoryClosingTime=23:59

Time to mandatory close all open trades

 

G8=Alerts  

ShowAlert=True of False

Set Alert to be displayed on Screen

 


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