Simple Scalping EA
This tool for MetaTrader 4 is specifically engineered to streamline your trading operations. 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 Simple Scalping 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.
Description & Settings
Very simple scalping EA, no Indicators. Logic is based on very fast price movements.
Here is my scalping EA idea works most of the time, but needs to be better programmed.
If some1 can help to modify it so it can be used on many pairs at the same time. Idea is very simple, no indicators at all. it keeps updating BuyStop and SellStop orders with each price movements. And when the market becomes heavy or news it won't get a chance to get updated quick... which means very fast price movement in one of the directions. This practically guarantees 10-15 pips movement. If some1 can help me to code it properly it would be very cool.. For the last 3 month i have a ratio of this working 4-6 wins vs 1 loss. ( and i noticed the loss mostly because i programmed wrong). Stop Loss should be adjusted to 5-7 pips ( if broker allowed)Works fine on Alpari US.
PS. For some reason and i cant identify the problem- after executing the order it may not send another order till i disable and re=enable EA ( gotta be a bug somewhere). Would appreciated any help.) oops. One more thing, i used the coding template from IBFX scripts and modified for my use. Thanks for the Help... And ignore the grammar.
