Scalping Project EA

Overview of Scalping Project EA

The Scalping Project EA is a specialized trading robot designed for the Forex market, focusing on scalping breakout strategies. This EA is primarily used for trading the EURUSD and USDJPY pairs on the M15 timeframe.

Key Features

• Main Pairs: EURUSD and USDJPY
• Timeframe: M15
• Scalping Breakout Strategy: Trades breakouts from relative highs and lows
• Stop Orders: Uses stop orders for the fastest possible execution
• Adjustable Trailing Stop: Secures profits dynamically
• No Martingale/Grid: Avoids risky martingale and grid strategies

Trading Strategy

The Scalping Project EA operates by identifying breakout points at relative highs and lows. For entry, it uses stop orders to ensure rapid execution, which is crucial for scalping. The EA also employs an adjustable trailing stop to lock in profits as the trade progresses.

Risk Management

• Fixed Lots: Set a fixed lot size for each trade
• Risk Percentage of Balance: Calculate lot size based on a percentage of the account balance
• TP and SL Points: Define take profit and stop loss points
• TSL Trigger Points: Activate trailing stop at a specific profit level
• Drawdown Monitoring: Close all trades if a specified drawdown is reached

Customization Options

The EA offers a variety of customizable settings to tailor the trading strategy to individual preferences. These include options for trading volume, risk percentage, take profit, stop loss, and trailing stop parameters.

Broker Recommendations

To maximize the effectiveness of the Scalping Project EA, it is highly recommended to use a broker with low spreads and commissions. Trading costs are crucial for scalping strategies, which rely on small average profits.

Performance and Testing

The backtests provided for the Scalping Project EA were conducted with default settings. Users are encouraged to download the free demo to perform their own testing and optimize the settings for their specific trading conditions.

General Settings

• Buy Trades: Enable or disable buy orders
• Sell Trades: Enable or disable sell orders
• Timeframe: Set the candle timeframe for identifying highs and lows
• Order Puffer Points: Define the order distance from the high/low

Time Settings

• Time Filter: Activate or deactivate the time filter for placing new orders
• Start and End Time: Define the allowed trading time

Drawdown Settings

• Drawdown Monitoring: Activate or deactivate drawdown monitoring
• Max Daily Drawdown %: Set the percentage below the starting balance to trigger the drawdown mechanism

More Settings

• Order Comment: Add commentary for each order placed by the EA
• Magic Number: Unique identifier for the EA's trades
• Chart Comment: Enable or disable comments on the chart

🎯 With its focus on precision and efficiency, the Scalping Project EA is a powerful tool for traders looking to capitalize on short-term market movements. 🌟