If you're trading on the EURUSD M1 chart, let me introduce you to ScalpWiz 9001. While it shines on this pair, I've also had solid results with NZDUSD and AUDUSD. Just a heads up, I wouldn’t recommend using it on a live account just yet, but it's a fantastic tool for learning how to navigate those big price spikes on the M1 charts.
This trading system evaluates the size of the current candle and sets up Buy/Buy Stop and Sell/Sell Stop orders when it exceeds specific thresholds. There are four thresholds in total, each with its own multiplier. For instance, if the candle surpasses the Level1Pips value, it applies the StrengthLevel1Multiplier to adjust your PercentRisk value, which you can set as a percentage of your account balance. This helps you determine the lot size by dividing your risk percentage by the current Ask/Bid price. The great thing is that you can keep your risk percentage low, and the lot size will automatically adjust based on your account balance.
You have the option to use buy stops and sell stops, which will automatically expire after 10 minutes by default. And don’t worry, you can tweak this setting to suit your trading style.
Right now, the EA is generating a few too many buy and sell signals. It’s a simple fix, but I haven’t had the chance to address it yet. Keep that in mind as you explore what ScalpWiz 9001 has to offer.
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