scalp wiz 9001
Info
The scalp wiz 9001 is a Expert Advisor for MetaTrader 4 that use on eurusd m1. values can be optimized for other pairs and i have had good success with nzdusd and audusd.
Usage
This tool is typically used for scalping on lower timeframes (M1-M15).
Platform
This Expert Advisor works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Experts folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use scalp wiz 9001
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
What this tool does
use on eurusd m1.
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 4. Place the file in the MQL4/Experts folder and restart the terminal.
Description & Settings
Related: fs s long trade scalper - another powerful expert for MetaTrader 4 traders.
use on eurusd m1. values can be optimized for other pairs and i have had good success with nzdusd and audusd. i would not use this on a live account (yet), but it is a good example of how to trade on large spikes in price on the m1 charts.
Also recommended: scalp rs i - similar expert with strong performance on MetaTrader 4.
the ea looks at the size of the current bar and issues buy/buy stop and sell/sell stop if the bar exceeds the predetermined limits, of which, there are 4. each limit has a multiplier associated with it. if the bar exceeds the level1pips value, it will apply the stengthlevel1multiplier value and multiply the percentrisk value supplied to the percentperchase function. you can set your percentrisk is n% of your account balance, which is divided by the current ask/bid to get the lot size. you can keep your risk percentage low and the lot size will increase or decrease with your account balance.you may or may not use buy stops and sell stops. buy stops and sell stops will expire after 10 minutes, by default. this value can be modified.
at the moment, the ea issues far too many buy and sell commands. it's an easy fix, but i haven't gotten around to it.
You may also like: Simple Scalping Expert Advisor for Fast Price Movements - excellent alternative for expert users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
extern int percentrisk = 2;
extern int takeprofit = 500;
extern int trailingstop = 15;
extern int openstoploss = 500;
extern int slippage = 3;
extern int expirationinminutes = 10;
extern bool usestops = true;
extern string comment = "scalpwiz9001";.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.