If you’re looking to up your trading game, the 555 Scalper EA might just be what you need. This expert advisor operates on the MetaTrader 4 platform and utilizes two 5-period exponential moving averages. With features like Trailing Stop Loss and Take Profit, it’s designed to work on the 5-minute time frame for major forex pairs and NASDAQ stocks.
Getting Started
- Make sure to test it on a demo account first.
- This EA trades strictly based on the price of the open candle!
- If you prefer not to increase your lot size after a losing trade, simply set: IncreaseFactor=0.
Input Settings
Here’s a quick rundown of the key inputs you can tweak:
- Use_TP_In_Money - Enable Take Profit in monetary values (values: true/false).
- TP_In_Money - Set Take Profit in monetary terms (values: 10-100).
- Use_TP_In_percent - Enable Take Profit in percentage (values: true/false).
- TP_In_Percent - Set Take Profit in percentage (values: 10-100).
- Enable_Trailing - Activate trailing with money (values: true/false).
- Take Profit In Money (in current currency) (values: 25-200).
- Stop Loss In Money (in current currency) (values: 1-20).
- Close trades if the trend goes against you to control drawdown (values: true/false).
- Lots - Set your lot size (values: 0.01-1).
- Lots size Exponent (values: 1.01-2).
- IncreaseFactor - Determine how much to increase lots from total margin if you lose a trade (values: 0.001-0.1).
- Stop_Loss (values: 30-500). Set value 600 for multiple trades.
- MagicNumber (values: 1-100000).
- TakeProfit (values: 50-200). Set value 600 for multiple trades.
Optimizing Your EA
To maximize your success, remember to optimize this EA every few months using the same input values mentioned above. It can serve as a hedging grid EA or a single trade EA based on your trading style.
Backtesting
Wondering how to perform a backtest? Check out this guide: Backtesting Guide.
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