Scalper Assistant
This professional-grade solution for MetaTrader 4 helps traders achieve greater efficiency in their daily workflow. This Expert Advisor serves as automated trading software. It is utilized to monitor financial markets and execute trades based on predefined algorithmic rules, enabling precise position management without the need for constant manual oversight.
How to Setup and Use Scalper Assistant
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.
Description & Settings
Scalping is one of the most popular strategies in the world that most traders have tried at least once. Because a scalper usually trades more than 10 trades a day, setting Stop Loss and Take Profit for each can be a bit boring. If your strategy is to trade on several financial instruments and Break Even as well, managing all these orders will be boring and often accompanied by mistakes. In addition, if you trade in lower Time-Frames and over several currency pairs, there may be a rapid price move just as you leave your desk for a cup of tea, and you miss the Break Even opportunity. However, the possibility of a quick price return and turning a profitable trade into a loss will not be far from the mind.
Using this expert, you can easily determine the amount of Stop Loss and Take Profit. Immediately after you open a trade, the expert automatically sets the initial values and if the price moves enough in the desired direction, the trade will be Risked-Free or Break-Even.
All input values are in POINT(Not PiP).
extern double WhenToMoveToBE //// You determine how many points the price should be away from the order entry point, so that the EA will Break-Even the order.
extern double BEAmount /// You set the distance of the Stop Loss to the entry point.
