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REGISTER PARTICIPANTS Expert Hedge Scalper Mt4

Discussion in 'Forex Market MQL5' started by James Goldman, Oct 1, 2020.

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  1. James Goldman

    James Goldman Moderator
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    #hedgescalper

    hedge-scalper-logo-200x200-6357.png

    Hedge Scalper is a fully automated EA which combines the concepts of Scalping and Hedging. Scalping in this EA is based on engulfing candle patterns. It is linked to a trailing stop strategy which moves the stop loss when trades become profitable with at least 5 pips.

    If the market moves against the trade, a hedging strategy is applied, which is designed to be robust enough in every market condition. Hedging is applied by entering stop orders in the opposite direction to the current market orders, at a distance of 25-50 pips (depending on the account size). A video is included to better show the EA in action.

    The robustness of the EA has been tested against particularly turbulent market situations, like NFP releases or Fed interest rates announcements.

    The EA does not require complicated settings, it is smart enough to adapt to the evolving market and to the user account balance. In fact, it uses a money management strategy, that decides the hedging orders lots based on account size.

    It is designed to work with EURUSD, so it is strongly recommended to stay on this pair (or test the usage of a pair with low spread and enough volatility).

    The EA trades on the M1 timeframe, no matter which timeframe is selected on the chart.

    It needs to run 24 hours a day, so a VPS is suggested.

    Parameters
    • MagicNumber: The Magic Number. Keep this parameter unique among your different EAs.
    • Status: This parameter is introduced to stop the EA from entering new trades. It can be either "Active" or "Inactive". It can be useful, for instance, on Fridays, to prevent having open trades during the weekend. Default: Active.
    • MaxSpread: No trades will be entered if the current spread is above this parameter. It must be provided in points. Default: 10. Please note that on a 5-Digit Broker, "10" means 1 pip. On a 4-Digit Broker, "10" corresponds to 10 pips.
    • AllowLosses: This boolean parameter allows to stop hedging and accept losses. It must be used in conjunction with the MaxDrawdown parameter. Default: false.
    • MaxDrawdown: Double value that indicates which drawdown is allowed before closing all trades. For example, a value of 0.6 means that if the drawdown reaches 60% of the current balance, all active trades will be closed. It is only used when AllowLosses is set to true. Default: 0.5.
    • ExcludedTradingHours: Boolean parameter used to exclude certain hours from trading. For example, between 21 and 5 GMT (24 Hours Format), when trading activity for EURUSD is quite small. Default: true.
    • NoTradeHour_Begin_GMT: Hour at which EA becomes inactive (GMT). Default: 21.
    • NoTradeHour_End_GMT: Hour after which EA becomes active again (GMT). Default: 5.
    Recommendations
    Even if the EA has been thoroughly backtested using real ticks with variable spread and 99% quality, it is intrinsically risky, due to the hedging strategy. It is therefore strongly recommended that you first download the demo, to get the feeling on how it works, and test it on your own with some chosen parameters, based on your account size and risk propensity.

    It is also recommended to have an ECN broker with low commissions and spreads to maximize the success rates.

    Use the AllowLosses parameter with caution: enabling it with a too low MaxDrawdown parameter, means you could exit the trades too early, with an unnecessary loss.

    Important: this EA requires a minimal account size to run. It will not run on accounts with balance less than 1000 USD (or equivalent), and with leverage less than 400. Ideally, the account should have a minimum balance of 1500 USD (or equivalent), and a leverage of 500.

    In addition, the EA runs on accounts in the following currencies only: USD, EUR, GBP, CHF, JPY, AUD, NZD.

    hedge-scalper-screen-7045.PNG hedge-scalper-screen-7793.PNG hedge-scalper-screen-8308.PNG hedge-scalper-screen-2148.PNG

     

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