Mastering the 5-Minute Scalper EA for MetaTrader 4

If you're looking to boost your trading game, the 5-Minute Scalper EA might just be your new best friend. This expert advisor employs a retracement strategy with a trailing stop loss and take profit, designed specifically for the 5-minute timeframe on currency pairs like EUR/USD and stocks on the NASDAQ.

Key Features

• Start with a demo account to get the hang of it!
• This EA executes trades based solely on the price of the opening candle.
• If you prefer not to increase lot sizes after a loss, simply set IncreaseFactor=0.

Input Parameters

• Use_TP_In_Money: Enable Take Profit in money (true/false).
• TP_In_Money: Set your Take Profit in money (values: 10-100).
• Use_TP_In_Percent: Enable Take Profit in percent (true/false).
• TP_In_Percent: Set your Take Profit in percent (values: 10-100).
• Enable_Trailing: Activate trailing stop with money (true/false).
• Take Profit In Money: Specify in current currency (values: 25-200).
• Stop Loss In Money: Specify in current currency (values: 1-20).
• Exit: Close trades if the trend goes against you to manage drawdown (true/false).
• Lots: Define lot size (values: 0.01-1).
• Lots Size Exponent: Set the exponent (values: 1.01-2).
• IncreaseFactor: Specify how much to increase lots from total margin after a loss (values: 0.001-0.1).
• Stop_Loss: Set Stop Loss (values: 30-500; use 600 for multiple trades).
• MagicNumber: Designate a magic number (values: 1-100000).
• TakeProfit: Set Take Profit (values: 50-200; use 600 for multiple trades).
• FastMA: Set Fast Moving Average (values: 1-20).
• SlowMA: Set Slow Moving Average (values: 50-200).
• Mom_Sell: Momentum Sell trigger (values: 0.1-0.9).
• Mom_Buy: Momentum Buy trigger (values: 0.1-0.9).
• UseEquityStop: Control equity drawdown (true/false).
• TotalEquityRisk: Set risk level (values: 0.01-20).
• Max_Trades: Set maximum trades (values: 1-12).
• TrailingStop: Activate trailing stop loss (set a value from 40 to 100; 0 deactivates).
• Enable Break Even: Enable break-even (true/false).
• When move Break Even: Specify when to trigger break-even (values: 5-30).
• How much pips move Break Even: Set pip movement to trigger break-even (values: 5-30).

Pro Tip: Make sure to optimize this EA every few months using the inputs mentioned above. You can use it as a hedging grid EA or a single trade EA.

Back Testing: To perform a back test, check out this link: Back Test Instructions.