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5M_SCALP_FIX.mq4 - Powerful Forex EA for Quick Profits
Unlock the potential of your trading with the 5M_SCALP_FIX.mq4 Expert Advisor, a cutting-edge Forex robot designed for swift and efficient trading. This EA employs advanced algorithms to capitalize on short-term market movements, making it an ideal choice for scalpers. Tested on popular brokers like LQDFX and FXOpen, this versatile EA is compatible with any broker, ensuring flexibility in your trading choices. Elevate your trading experience with the 5M_SCALP_FIX.mq4 Forex EA and navigate the markets with confidence.
5M_SCALP_FIX.mq4 2.84 kb, 49 downloads since 2015-04-22
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Introducing the 5M_SCALP_FIX.mq4 Forex Expert Advisor - Your Path to Short-Term Forex Trading Success!
The 5M_SCALP_FIX.mq4 is designed for short-term trading on the 5-minute chart. It is a tool for traders who want to capitalize on quick price movements in the foreign exchange (forex) market. It executes buy and sell orders automatically based on a predefined strategy.
Strategy Summary:
The strategy of this EA is to identify potential buy and sell opportunities based on the recent price action.
When the EA detects that the closing price of the previous candle is higher than the closing price of the candle before it, it triggers a buy order.
Conversely, when the closing price of the previous candle is lower than the closing price of the candle before it, it triggers a sell order.
How the EA Works:
The EA checks if there are already open orders. If not, it proceeds.
It calculates the lot size based on your specified risk percentage.
For a BUY order:If the closing price of the previous candle is higher than the closing price of the candle before it, the EA sends a BUY order.
The Take Profit is set at 10 pips, and the Stop Loss is set at 17 pips.
There's also a Trailing Stop of 9 pips in place.
For a SELL order:If the closing price of the previous candle is lower than the closing price of the candle before it, the EA sends a SELL order.
The Take Profit is set at 10 pips, and the Stop Loss is set at 17 pips.
There's also a Trailing Stop of 9 pips in place.
If there are open orders, the EA checks for conditions to close them:For a BUY order, it closes the order if either 300 seconds (5 minutes) have passed since the order was opened or if the account profit exceeds 2 currency units (dollars or euros, depending on your account currency).
For a SELL order, it uses the same conditions to close the order.
To set up the EA follow these steps:
Attach the EA to a 5-minute chart of your desired currency pair in MetaTrader 4.
Adjust the EA settings according to your preferences:
Lots: Set your preferred lot size (1.0 by default).
Take Profit: Set your desired take profit in pips (10 by default).
Stop Loss: Set your desired stop loss in pips (17 by default).
Trailing Stop: Set your trailing stop value in pips (9 by default).
Slippage: Set the maximum allowed slippage in pips (2 by default).
Risk: Set your risk percentage (5.0 by default).
Pips: Set the number of pips for the EA to consider when making decisions (16 by default).
Perc: Set a percentage value (5 by default) for risk calculation.
For a potentially winning setting, you might consider these values:
Lots: 0.1 (for lower risk)
Take Profit: 15 pips (for larger profit potential)
Stop Loss: 20 pips (for a wider safety net)
Trailing Stop: 12 pips (to lock in profits)
Slippage: 3 pips (to reduce execution risk)
Risk: 3.0 (for lower risk)
Pips: 20 pips (to capture larger price movements)
Perc: 3 (for lower risk)
Please remember that trading involves risk, and past performance is not indicative of future results.
5M_SCALP_FIX.mq4 2.84 kb, 17 downloads since 2023-11-10
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