SwissCannon EA is an advanced type of mean-reversion scalper that trades for 6 hours each night 5 days a week. It has 4 built-in core set files and is already fully optimized for multi-currency pairs trading.
The core strategy logic is based on the concept of finding the highest peaks in price action on the 1 minute bar. Momentum is filtered out for optimal mean-reversion. Exit mechanism is dynamical and stop losses are always used for every trade (set at 100 pips).
This system does not use hedging, martingale, grids, or other similar toxic methods of trading.
Pairs + Timeframes
The system was developed primarily for EURCHF but the following pairs can also be used: CADCHF, CHFJPY, EURGBP, GBPCHF, and NZDCHF, on the M1 timeframe.
- Test with minimal risk first on an ECN account
- Use VPS for minimal network latency to the broker's server
- Use a leverage of 1:100 or more
- Low spread + low commission + low slippage is advisable
- Minimum balance best above $500
- MagicNumber - Must be an integer i.e. "222"
- TradeComment - To add to EA Comment i.e. "SWISSCANNON"
- Leverage - The default account leverage i.e. input "500" if leverage is 1:500
- MaxSpreadPlusCommission - Must be a value greater than average spread (in points) + the commission is for 1 round lot. Default = 50
- ShowPanel - Set to true to show panel information on the chart.
- DeleteObjects - Deletes objects on the main chart. Useful to improve performance during live trading
- MaxLots - Set the broker's maximum allowable lot size limit
- UseMM - Set to true to use Money Management based on risk size. Set to false to use fixed lots
- Risk - Risk size amount
- FixedLots - Set a fixed lot size amount if UseMM = false
- StartHour - Hour of the broker the strategy turns on. Default = 18
- StartMinute - Minute of the starting hour. Default = 0
- EndHour - Hour of the broker the strategy turns off. Default = 23
- EndMinute - Minute of the end hour. Default = 59
- ManualHourOffset - Allows for manually shifting start and end hour to adjust for summer/winter time changes
- EA can be backtested using Open Prices
- No set files needed
- It may be possible to test the EURCHF pair with StartHour = 1 for more trades but overall expectancy and profit factor will tend to be less
- Parameters window is kept simplified for ease of use
- USDCHF pair was not selected due to very high volatile backtest performance