This simple strategy, executed with limit orders, makes slippage your friend.

The extended Take Profit sets no limits to profits, often profits far above the normal scalping profit are achieved. See screenshots below.

No martingale, no grid, always just one order open with StopLoss.  

The default settings are for GBPUSD M5 chart.  

Timing is important! Set SetUTC (GMT) according to the timezone of your broker! More info in Comments.

For a correct backtest download M1, M5, H1, D1 and W1 data for the test period.

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• SetUTC – timezone. Default set UTC=2 is best, used by many brokers 

• Pair: Future versions may trade other currency pairs (in preparation)

• Auto_Moneymanage: automatic money management On or Off

• MiniLots: if true, Auto_Moneym. has steps of 0.01 lot

• MaximumRisk: % of account free margin set on risk for a trade

• Lots: lot size if Auto_Moneym. is disabled

SetUTC – timezone. Default set UTC=2 is best, used by many brokers 

Pair: Future versions may trade other currency pairs (in preparation)

Auto_Moneymanage: automatic money management On or Off

MiniLots: if true, Auto_Moneym. has steps of 0.01 lot

MaximumRisk: % of account free margin set on risk for a trade

Lots: lot size if Auto_Moneym. is disabled

• StopLossBuy: distance of stop loss 

• TakeProfitB: points profit when a buy order is closed 

• Then follow same setting for Sell orders

• HrFriStop: hour EA stops opening orders Fridays (24 = disabled)

• HrFriClose: hour when the EA closes open orders Fridays (24 = disabled)

• magic: magic number

• DrawLines: draws Highs and Lows of former days, weeks in the chart. Mouseover shows the name of the line.

• The EA orientates on these lines. More info in the description of the indicator: Support Resistance Free   

    

StopLossBuy: distance of stop loss 

TakeProfitB: points profit when a buy order is closed 

Then follow same setting for Sell orders

HrFriStop: hour EA stops opening orders Fridays (24 = disabled)

HrFriClose: hour when the EA closes open orders Fridays (24 = disabled)

magic: magic number

DrawLines: draws Highs and Lows of former days, weeks in the chart. Mouseover shows the name of the line.

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