scalper assistant
Info
The scalper assistant is a Expert Advisor for MetaTrader 4 that 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.
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 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.
What this tool does
scalping is one of the most popular strategies in the world that most traders have tried at least once.
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.
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.
Also recommended: Renko Scalper - similar expert with strong performance on MetaTrader 4.
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.
You may also like: Order Management Assistant - excellent alternative for expert users on MetaTrader 4.
Source Code
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⚠ 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.