EA Scalper MT4 Free
This free version only trades on Monday and Tuesday. It has no other restrictions.
Before you buy a night scalper please be aware of the risks involved:
1) Past performance is no guarantee of future profitability (the EA could also make losses).
2) The backtests shown (e.g. in screenshots) are highly optimized to find the best parameters but therefore results cannot be transferred to live trading.
3) Any mean reversion can get caught on the wrong side of a fast movements due to unexpected news or flash crashes. This strategy will always use a stop loss, but still execution of the SL depends on your broker.
4) Night scalpers are dependent on good brokerage conditions, like low spread and slippage, which might be worse on high lot sizes.
EA Scalper MT4 is a mean reversion system during the quiet hours of the day. The EA trades at the end of the US session and at the beginning of the Asian session.
It does not use martingale or grid and has a stop loss for every position.
Symbols: EURUSD, GBPUSD, EURCHF, USDCAD, EURCAD.
Time frame: M5 and M15
Live signals and other products here - https://www.mql5.com/ru/users/leron34/seller#products
MT5 version here - https://www.mql5.com/ru/market/product/52548
The default settings are GMT +2 for many popular brokers and automatic DST (Daylight Saving Time) switching. Please email me if you are not sure how to set the time on your broker.
The EA should run on a VPS continuously without interruption.
It is important to use real spread in backtesting and not some fixed spread. But be aware that the spread can be very different between brokers at that time.
The EA should be turned off on days of important events, for example general elections in UK, US or Europe!
- Lots = 0.01 this lot will be used for trading if RiskAllow = 0
- SpreadAllow= 1 Maximum spread at which a trade can be opened
- RiskAllow = 5 Loss if the price reaches Stop Loss (measured as a percentage of the deposit)
- SlipAllow = 7 Slippage
- StopLossPip = 100 Distance where the advisor will place a SL
- TakeProfitPip = 100 Distance where the advisor will place a TP
- MaxPoz = 1 The maximum number of simultaneously open positions in one direction. The EA has the ability to open more than one order in one direction. I do not use it. I did it at the request of users
- PipStep = 5 This function is also needed for the order grid. this is the distance from the previous order in points to open the next order. I do not use it. I did it at the request of users
- ChannelPeriod = 12 This is the indicator period in the form of the number of last candles
- GMT = 2 GMT of your broker. Most brokers have GMT 2. I trade and advise everyone to trade on IC Markets.
- DST = true Daylight Saving Time
- TimeOut = 1 This is the time in seconds between orders in the grid if you are using a grid. I do not use it. I did it at the request of users
- CloseProfitTimeOut = 2 This parameter determines how many points of profit to close if the deal was not closed during working hours. You can use a negative value.
- TradeInFriday = true Trade or not on Friday night. If you are afraid of gaps on Monday, then you can disable this function. (Only for full paid version)
- StartHour = 23 Start hour
- StartMinute = 3 Start Minute
- StopHour = 0 Stop Hour
- StopMinute = 59 Stop Minute
- Magic = 2020 Magic number for trades
- Visual = false This parameter enables and disables information on the screen during trading. For tests to increase speed it is better to disable