Wave Scalper EA is a fully automatic scalping system that uses price actions to discover scalping trades and leaves them using an invisible monitoring prevent.
The Expert Advisor is equipped having a money management function that computes the whole lot size depending on the number of capital in the account and the risk with the ability to establish the maximum drawdown to stop trading.
This long-term plan, combined with money management, can work well on many pairs, especially GBPUSD, USDCAD, EURUSD, AUDUSD and USDJPY.
Direct testing signals – https://www.mql5.com/ru/signals/author/robots4forex
- Fully automated
- Risk management
- Works on an account of any size
- Only one trade is open at a time
- A stop loss is always set
- Without grid
- Without martingale
Basic Settings
- textcolour – color of the text on the screen
Order Settings:
- magicordernumber-a unique number for determining the EA’s trades – any integer
- Lots-fixed lot if money management is disabled-values from 0.01 to 50.0
- Slippage – slippage in pips-values from 1 to 10
- MoneyManagement – when enabled, the lot size for trades is calculated based on the account risk – true/false
- moneymanagementrisk – risk per trade if money management is enabled-values from 0.01 to 0.1
- allownewtrades – allow opening new trades-true/false
- accountprofitlock – if money management is enabled, the EA will stop trading when the account balance drops to the specified share of the account balance (0.5 = 50% of the account balance) – values from 0.0 to 1.0
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Login Settings
- timeframe-drop-down menu for selecting the timeframe of the Expert Advisor, so that the timeframe of the chart does not affect the work.When testing the EA, make sure that the timeframe of the tester corresponds to this value.
- MaxSpread – the maximum spread in pips at which trading is allowed-values from 1.0 to 10.0
- StopLoss – fixed stop loss visible to the broker. Values from 25 to 100, depending on the pair, should be greater than the invisible stop loss
- invisiblestoploss – stop loss that is not visible to the broker. Values from 3 to 10 depending on the pair
- TakeProfit – take profit. Values from 5 to 40 depending on the pair
- barlookback – number of bars to calculate the algorithm, 5-30
- tooclosebars – number of bars to calculate the algorithm, 5-30
- maxlookbackbars – maximum number of bars to process the algorithm, 500-1000
- TrailingStop – using a hidden trailing stop, TRUE/FALSE
- trailingstopstart-profit in pips at which the trailing stop will start working, 1.0-10.0
- trailingstopprecentage-percentage of trailing stop, 10.0-30.0
- limitedtradehours-limit trading by hours, specify the comma-separated hours when the Expert Advisor does not need to trade, for example 5,8,12-15
The default parameter values are for GBPUSD. To get good results on other pairs, you need to optimize the invisiblestoploss, TakeProfit, barlookback, tooclosebars, trailingstopstart and trailingstopprecentage parameters. Disable money management when optimizing, so that performance in the second half of the test is not hindered, and the best overall results are easier to detect. When optimizing, test on data from the last six months. When checking the most appropriate settings, test on the data for at least two years. This will reduce the probability of fitting values.
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