Scalp Wiz 9001: M1 Spike Trading EA
Info
The Scalp Wiz 9001: M1 Spike Trading EA is a Expert Advisor for MetaTrader 4 that scalp wiz 9001 is designed for trading on the eurusd m1 chart. While it has shown success with NZDUSD and AUDUSD, it is recommended for testing and demonstration purposes rather than live trading at this time.
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: M1 Spike Trading EA
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
Scalp Wiz 9001 is designed for trading on the EURUSD M1 chart.
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: Scalper EA for Weekend Trading on BTC - another powerful expert for MetaTrader 4 traders.
Scalp Wiz 9001 is designed for trading on the EURUSD M1 chart. While it has shown success with NZDUSD and AUDUSD, it is recommended for testing and demonstration purposes rather than live trading at this time.Also recommended: MD Scalper EA: Trend/Reversal Scalping with Trailing Stop - similar expert with strong performance on MetaTrader 4.
This Expert Advisor (EA) identifies significant price spikes on M1 charts. It analyzes the size of the current bar and places buy/buy stop and sell/sell stop orders if the bar exceeds predefined limits. There are four such limits, each associated with a multiplier.
When a bar exceeds the 'level1pips' value, the EA applies the 'strengthlevel1multiplier' to the 'percentrisk' value. This 'percentrisk' is used in the 'percentperchase' function to calculate the lot size. The lot size is determined by a percentage of your account balance, divided by the current bid/ask price. This risk management approach allows the lot size to adjust automatically with your account balance while maintaining a low-risk percentage.
The EA includes options to use or omit buy stops and sell stops. By default, these stops expire after 10 minutes, but this duration is adjustable.
Currently, the EA may issue a high volume of buy and sell commands. This is a known area for improvement and can be easily rectified.
You may also like: fs s long trade scalper - 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.