Collosal Scalper MT5 Free

See below for more details

This is a free FREE VERSION!     

Lot size is disabled and only allows minimum brokers lotsize.

Money management section is also disabled.

The reason its free is so you can see for yourself it works and to get feedback. Feedback is important for me to evaluate my codes and to create the best products.   

FEATURES

• Based on a sound price action trading principle.  
• A purely mechanical system. Simply set and leave.
• No martingale, grid averaging or no stop loss trading.
• Risks are small per trade.  
• An optional automatic lot adjustment feature that adjusts lot size to the account balance. Or to use a fixed lot size.
• Features a panel showing, bid, ask, spread, lot size balance, equity, profit/loss, stop level and broker execution speed. To find broker execution speed we press button Execution Reading.  

SETTINGS

SECTION_A   

• Magic Number – A unique value to this EA so that if used alongside other EA’s within MT4 it can differentiate between all orders placed and only adjust orders placed by this EA.
• Slippage – If trade is opened and its past the expected price of trade by x points as specified here then the trade will not be opened.  

SECTION_B

• Maximum Spread – Allows only trades when market is less than or equal to the spread as input by user.

SECTION_C

• Lot Size – Adjusts the size of trade exposure we have. EG 0.01 on the EURUSD will mean every micro incremental point move will equal 1 pence.

SECTION_D

• Trailing Stop  –  Sets the size of our trailing stop in points.
• Minimum Profit To Trailing Stop – Sets the size of profit in points that is required before we activate out trailing stop.
• Stop Loss – Sets the size of stop loss from opening order price in points.
• Take Profit – Sets the size of take profit from opening order price in points.

SECTION_E

• Candle Trigger – Size in points we need candle to be before pending order is placed.
• Distance From Bid Orders Are Placed – When the signal is found it places a pending order x points from bid.  

SECTION_F

• Money Management – True means we will adjust lot size as a percentage of our trade capital. As set in Percentage Risked Per Trade. False means we will use fixed lot specified under Lot Size above.
• Risk Percentage – Percentage we risk per trade. EG 2 = 2% of our total trade capital will be risked per trade. This we be calculated using both stop loss and account size.

SECTION_G

• Start Hour – On and after this hour the EA will start trading.  
• End Hour – On and after this hour the EA will stop trading.

TRADING REQUIREMENTS

With this EA you will lpose money if you dont make sure your broker has the following :  

High liquid broker 

A broker with fastest execution of

Low spread 0 to 1-2 points (Not Pips but points!)

Low Commission

Stop level 0    

True ECN   

Fast VPS with the broker server being as close to your vps server as possible    

The best would be :

Pepperstone Razor ECN account

Though others are : 

IC Markets 

FXCM 

Vantage FX 

Roboforex

FXOpen 

OctaFx

HOW TO TRADE THIS EA

This EA has the default setting based on 1m timeframes as such : 

TrailingStop = 8

MinimumProfit = 0

StopLoss = 8

TakeProfit = 0

And for the EURGBP

Further experimentation is needed for other timeframes and other markets.