The Scalping Project EA follows a scalping breakout strategy. It trades the breakouts from relative highs and lows. For the entry stop orders are used for the fastest possible execution. Profits can be secured by the adjustable trailing stop.
Since the strategy works with small average profits it is highly suggested to trade with a low spread and commission broker. Trading costs are crucial here!
The backtests shown in the screenshots were done with the default settings. There might be better or worse settings. Please download the free demo to do your own testing.
This EA does not use any martingale and/or grid functionalities. Still the tests shown below were done with a 5% risk per trade which can not be considered as “low risk”. Please behave responsible with your trading funds and only use money that you can afford to lose. Have fun testing and trading 🙂
General Settings
Buy Trades: Enables the EA to place buy orders
Sell Trades: Enables the EA to place sell orders
Timeframe: The candle timeframe used to identify the highs and lows
BarsN: Sensitivity of the high and low algorithm (smaller value = more highs and lows, greater value = less highs and lows)
Order Puffer Points: The order distance from the high/low
Trade Settings
Trading Volume: Mode for the calculation of the lot size for each trade
Fixed Lots: Lot size for each trade if the fixed trading volume mode is chosen
Risk Percentage of Balance: The lot size for each trade will be calculated so that the set percentage of your account will be lost if the inital SL is triggered
TP Points: The distance form the entry order price to the TP
SL Points: The distance form the entry order price to the SL
TSL Trigger Points: The Trailing Stop is activated as soon as a trade is more than the TSL Trigger Points in profit
TSL Points: The Trailing Stop will be trailed in this set distance behind the current market price
TSL Step Points: The SL will only be modified if it is at least this distance above the previous SL
Time Settings
Time Filter: Activates or deactivates the time filter which will be checked before new orders are placed
Start Hour: Hour of the start of the allowed trading time
Start Minute: Minute of the start of the allowed trading time
End Hour: Hour of the end of the allowed trading time
End Minute: Minute of the end of the allowed trading time
Drawdown Settings
Drawdown Monitoring: Activates or deactivates the drawdown monitoring that closes all trades of this EA when the drawdown is reached
Max Daily Drawdown %: Drawdown mechanism is triggered if equity or balance is this percentage below the starting balance of the day
More Settings
Order Comment: Commentary for every order the EA places
Magic Number: This number should be unique for every EA in your account since the EAs use it to identify their own trades
Chart Comment: Activates or deactivates the comment in the upper left corner of the chart
Brand
EA MT4
Refund
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4. Replacement or Refund for Defective Products: Upon verification of a legitimate defect, we offer the option to either replace the faulty product with another one of your choice or initiate a refund. Your satisfaction is our priority, and we strive to resolve issues related to product defects in a fair and efficient manner.
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Install
The installation of this Expert Advisor is BASIC INSTALL SKILLS ( NODLL ).
This is the easiest type of installation for Expert Advisors.
This Expert Advisor is a .zip file and as it does not include msimg32.dll. You don’t need to deactivate your antivirus or anything like that; simply purchase and download.
Copy the EA folder content from your product to the EA folder of your MT4 installation.
Once all the files copied, open your Meta Trader 4 or refresh Expert Advisors, thats it.
Responsability
Tradingview.video disclaims any responsibility for gains or losses resulting from the use of the strategies provided. We cannot guarantee the profitability of these strategies as multiple factors, including fees, settings, and risk management, significantly impact outcomes. Our primary responsibility lies in presenting comprehensive descriptions containing all available information, empowering you to make informed decisions independently.
Not all expert advisors come with presets. It is recommended to craft your own, finely calibrated to improve performance and minimize risks. Employ reliable historical data tools like Tickstory and Backtester Kicker to analyze various setting combinations.
Dedicate time to acquire the knowledge requisite for joining the 5% of successful traders in the forex market.
A crucial reminder: Always conduct thorough backtesting before deploying any strategy with a live trading account.
Kindly refrain from requesting recommendations for an EA; base your purchase decisions on the available information.
admin (store manager) –
Great Bot, recommended