Forex Tops Scalper Expert Advisor

Forex Forex Tops Scalper Expert Advisor review:

The robot places BuyStop/SellStop orders at a short distance from key price levels , trying to take advantage of the triggering of stops or pending orders accumulated at those levels . It is highly recommended to use a low slippage , low spread broker , fast computer or vps and low latency trading  server for the robot to manage to work correctly .

Trades may be also managed by profit . Canceling TP , SL , TrailStop by setting them to 0 and BE by setting the parameter to false , using just profit to manage the trades .The EA closes all open orders when profit  in currency or maximum loss in currency is reached.

Recommended pairs : Forex Majors .

Timeframe : H1 .

Test results:

Forex Tops Scalper Expert Advisor

Parameters:

Lots – Lot size if lot size used is fixed and no auto lot management is used ;

Manage_Lot – true/false – if true , lot size will be automatically calculated by the EA ; if false , fixed lot size will be used;

Risk Percent – is used in the auto lot management , if set to 1 , with Manage Lot set to true , it will open 0.01 lot size for every 100$ of the account equity .

Smart Lot – true/false ; if true , the EA will decrease lot size based on the following parameters , DecreaseOnLosses and DecreaseOnWins and reset lot size after                          series of losses or wins ends .

DecreaseOnLosses – coeficient for lot size decrease in a series of losses if SmartLot is set to true,calculated as  lot/DecreaseOnLosses ;

DecreaseOnWins – coeficient for lot decrease in a win series if SmartLot is set to true , calculated as  lot-lot*wins/DecreaseOnWins;

Hard Stop – is a normal stoploss ,set in points , based on the pending order placement or on the virtual trade level , if virtual pending orders are used ; if it is set to 0 it is not used ;

Virtual Stop – closes the open order if it was triggered at worse price than initially requested , so that the loss is not larger than it should be ; it is set in points and is not used if it set to 0;

Take Profit – normal takeprofit , set in points , based on the pending order placement or on the virtual trade level  , not used if set to 0;

SellOffSet – offsets the pending orders (SellStop or BuyLimit) with the value input in points . If the input value is positive the EA will place the order above the lowest level by the number of points input by user .If the input value is negative , the EA will place the order bellow the lowest level by the number of points input by user;

BuyOffSet – offsets the pending orders (BuyStop or SellLimit) with the value input in points . If the input value is positive the EA will place the order bellow the highest level by the number of points input by user .If the input value is negative , the EA will place the order above the highest level by the number of points input by user;

TrailingStop – set in points , not used if set to 0 ;

TrailStep – the step in points the TrailStop will move ;

StartTrailAfter – starts the TrailStop only after the points in profit are achieved ;

BreakEven – true/false ; if true , BreakEvenAfterPoints will move SL to BreakEvenPoints in profit;

StochasticPeriod – stochastic is used to change or reset trade levels;

Level – the number of candles used to calculate the high and the low level;

VirtualPendingOrders – true/false ; if true , market orders are used istead of pending orders

MaxSpreadPoints – maximum spread allowed if working with market orders , set in points;

MaxSlippagePips – Applies only for old style brokers(dealing desk) , 1pip=10points ;

ReverseStrategy – if set to true , places SellLimit instead of BuyStop and BuyLimit instead of SellStop.

UseProfitTarget – if set to true , profit and loss in account currency is used for closing orders or basket of orders .

ProfitTarget – the profit goal in account currency that will be used .

MaximumLoss – all orders will be closed if the input loss in currency is achieved .

Working Time For Sending Orders : StartTime and EndTime .

DeletePending – true/false – if true , deletes pending orders outside the time interval established in Working Time .

Download our other Free Forex Robots For Metatrader 4

Installation

Copy and paste the file into the MQL4 Experts folder of the Metatrader 4 trading platform.

You can access this folder from the top menu as follows:

File > Open Data Folder > MQL4 > Experts (paste here)

Other forex indicators and strategies

Leave a Comment