Prospector Scalper EA
DOWNLOAD PROSPECTOR SCALPER EA MT4
DOWNLOAD PROSPECTOR SCALPER EA MT5
Forward testing signals – https://www.mql5.com/en/signals/author/robots4forex
Features
- Fully automated
- Draw down risk control
- Always a stop loss in place
- Only one trade open at any time per pair
- Hedge and Net account compatible
- This system is NFA/FIFO compliant
- No Grids
- All you need is a VPS
Input Settings
Order Settings
- MagicOrderNumber – Unique number for the EA to identify it’s trades – Any integer
- Lots – Starting lot – Values 0.01 to 0.02
- LotMultiplier – Last trade loss lot size multiplier – Values 1.5-2.0
- LotMultiplierStart – Which trade in the sequence to start multiplying lots, higher values reduce chance of draw down – Values 0-100
- LotLimit – Maximum lot size before giving up on the trade sequence – Values 10-100
- Slippage – Slippage in pips – Values 1 to 10
- AllowNewTrades – Turn this off to disable new trade sequences – TRUE/FALSE
Entry Settings
- TimeFrame – Time frame drop down selection to lock EA to a time frame so that selection of the chart timeframe doesn’t affect the EA. When testing ensure the tester time frame is set to the same value.
- MaxSpread – Maximum spread in pips that the EA will trade – Values 1.0 to 10.0
- StopLoss – Stop loss per trade in pips, this is only an emergency stop loss, should be set higher than TakeProfitMax – Values 50 to 200
- TakeProfit – The invisible take profit increments in pips, should be small – Values 3 to 8
- TakeProfitStart – The initial invisible take profit in pips, should be small – Values 3 to 8
- TakeProfitMax – The maximum target profit in a sequence of trades – Values 40 to 100
- StopLossMultiplier – The invisible stop loss ratio to invisible take profit – Values 0.4 to 1.0
- EnterOnATR – Starts trade sequences on ATR increase – TRUE/FALSE
- ATRPeriod – The ATR period used for volatility detection – Values 3 to 28
- ATRThreshold– The ATR threshold limiting when new trade sequences can start – Values 4 to 14
- ReverseEntry – Starts trade sequences against the current trend – TRUE/FALSE
- LimitedTradeHours – Limit hours of trading by listing hours not to trade comma separated – e.g. 5,8,12-15
Optimisation & Defaults
Default input values are for EURUSD M5. If optimising, optimisation of ATRPeriod, ATRThreshold, ReverseEntry, StopLossMultiplier and TakeProfit are needed to find the best results.
