This Scalper is based on Support/Resistance level that are identified using innovative algorithm. This is very simple EA to set it up.
Demo Accounts :
Growth Status as of 2/06/2020
TickMill - https://www.mql5.com/en/signals/620466 -- 105327% (Initial Deposit - 200 USD, Profit - 210654.42 USD)
Recommended Currency Pair to run -
GBPUSD Renko 4 pips bar chart with Wicks generated for Back testing.
EURUSD Renko 4 pips bar chart with Wicks generated for Back testing.
EURUSD M15
Recommended Broker parameters -
ECN Broker
Preferable Spread :
EURUSD less than average 0.3 pips,
GBPUSD less than average 0.8 pips
commission less that $7 per lot round trip,
VPS with broker's Server delay less than 3ms.
Recommendation for Back-testing
Please use Tick Data with 99% or more accuracy to back test this EA.
Input Parameters -
mManage - True for dynamic lot management
- False for specified (by parameter fixedLot) fixed Lot
stopLoss - tighter as much as possible to minimize Draw Downs by default 1.3 pips (optimized for EURUSD)
risk - Risk Index can be set from fractional value as low as 0.1 to 40.
fixedLot - by default to MODE_MINLOT of the broker.
stopWeekendMinutes - Minutes just before market closes for weekend.
For Example Market Closes at 23:00 hours
then EA can be shutdown at Hour 22:50 by specifying (22 * 60 )+50 minutes.
maxAllowedSpread - Allowed Spread by default 1.5 pips
magicNum - Any integer value that user want
OrdCommnets - Any String value that user want to comment on Orders placed by this EA.
Please see the screen shot attached to see default settings.
