AuroraScalper EA is a highly specialized mean-reversion scalper that trades 23 hours per day 5 days a week. This is a refinement from SwissCannon EA for tactical deployment on a few select currency pairs with a significant bias for mean-reversion.
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 25 pips).
This system does not use hedging, martingale, grids, or other similar toxic methods of trading.
Pairs + Timeframes
The system is designed only for CHFJPY, CHFSGD, and EURCHF, 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 $100
- MagicNumber - Must be an integer i.e. "333"
- TradeComment - To add to EA Comment i.e. "AURORA"
- Leverage - The default account leverage i.e. input "500" if leverage is 1:500
- MaxSpread - Must be a value greater than average spread. Default = 2.0 pips
- 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
- StopLoss - Set the strategy stop loss in points. Default = 250 points----------Entry Strategy----------
- Stringency - Adjusts the frequency of trades. Lower value = more trades. CHFJPY and CHFSGD = 1. EURCHF = 0.5----------Time Filter----------
- GMTHourOffset - 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
- Parameters window is kept simplified for ease of use