This is the latest iteration of my famous scalper, Goldfinch EA, first published almost ten years ago. He scalps the market at a
sudden increase in volatility that occurs in short periods of time: he assumes and tries to benefit from the
inertia of price movement after a sudden acceleration of the price. This new version has been simplified to allow the trader to easily use
the tester optimization feature to find the best trading parameters. [
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- Simple input parameters for easier optimization
- Customizable Trade Management settings
- Choosing a trading session
- Choosing the day of the week
- Money Management
Scalpers from ticks are dangerous because many factors can destroy the result. Variable spreads and slippage reduce the mathematical
expectation of a trade, a low density of ticks from a broker can lead to phantom trades, the stop level undermines your ability to make
a profit, and network latency means requotes. Caution is recommended.
- The EA uses only tick data. Please test in the “every tick” mode.
- It doesn’t use HLOC (high – low – open – close) data at all
- The timing of trading does not matter
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- Trigger: The price movement required to open a trade, in pips. (default = 10)
- Min Time Window: minimum time for price movement. (default = 3)
- Maximum time window: maximum time for price movement. (default = 10)
- Breakeven: Pips in profit to break even. Zero means disabled.
- Break-even behavior: Choose either
a) Move the SL to open the price or
b) Provide half
profits from trading - Trailing Stop: Trailing stop for trades expressed as% of trading profit at that time
- Trailing step: minimum increment in the stop loss order.
- Stop Loss: Stop loss in pips should matter.
- Take Profit: Take profit in pips. Zero means disabled.
- Session Settings: enable/disable trading in Asian/American/European sessions
- Day of the week settings: enable/disable trading on weekdays
- Money Management behavior: choose any
a) Automatic calculation of the lot size for each transaction or
b) trade a manual lot for each transaction - Transaction risk: transaction risk expressed as% of the account balance
- Manual Lot Size: manual lot for transactions
- Complies with NFA / FIFO: allow trading this Expert Advisor on American brokers
- User Comment: User comment on transactions
- Magic Number: The number used by the Expert Advisor to sign and recognize their trades.
- Slippage: maximum deviation in filling prices, in points.
- Manual pip value: redefine the pip value for this symbol if necessary
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