Conservative Scalper EA is a MetaTrader 4 robot designed for intraday scalping on major currency pairs such as EURUSD, GBPUSD, and USDJPY. It determines market bias on the M15 timeframe using dual Exponential Moving Averages and enters trades on the M5 chart based on RSI levels and candle breakouts. The system prioriti
Trading robot · MT4
Average Scalper
Average Scalper is a MetaTrader 4 expert advisor designed for trend-following strategies based on moving average levels and volatility ranges.
GitHub stars1
Forks0
Last update1 year ago25 Sep 2024
LicenceNone stated
Overview
Average Scalper uses a 50-period Exponential Moving Average to determine market direction, initiating buy orders when the price is above the line and sell orders when below. Risk management is governed by the daily Average True Range, which sets hard stop loss and take profit targets. The EA includes a dynamic lot sizing module that calculates position volume based on a user-defined percentage of account equity.
- Trend identification via 50-period Exponential Moving Average
- Volatility-based exits using daily Average True Range
- Dynamic position sizing based on account risk percentage
- Adjustable ATR multipliers for profit and loss targets
- Customizable Magic Number for trade tracking
Details
Author
fauzaanu on GitHub
Type
Trading robot
Platform
MetaTrader 4 (MQL4)
Strategy
Scalping, Trend following, Indicator crossover
Markets
Any symbol
Timeframes
M1-M5, M15-H1
Risk profile
No grid, martingale or hedging logic was found in its code or README. That says nothing about how it performs: backtest it first.
EA files
Topics
metatrader-4average-daily-range
Input parameters
Read from avg_scalper.mq4. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
RiskPercent | double | 1.0 | Risk percentage per trade |
MagicNumber | int | 12345 | Magic number to identify the trades |
Slippage | int | 3 | Slippage for the trade execution |
EMA_Period | double | 50 | Period of the EMA |
ATR_Period | double | 24 | Period for ATR calculation (Daily) |
ATR_Multiplier_TP | double | 1.0 / 3.0 | Multiplier for TP |
ATR_Multiplier_SL | double | 1.0 | Multiplier for SL |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone fauzaanu/average_scalper from GitHub, and unzip it.
- 2Open the data folderIn MetaTrader choose File, then Open Data Folder, and go to MQL4/Experts.
- 3Copy the filesCopy the .mq4 file into Experts.
- 4Compile in MetaEditorOpen the file in MetaEditor and press Compile. Fix any missing includes the compiler reports.
- 5Test before you tradeRun it in the Strategy Tester, then attach it to a demo chart and allow algorithmic trading.
Third-party code. ForexR did not write, test or endorse this EA, and the summary above was generated automatically from its README and code. ForexR lists only repositories with readable source code and never hosts files. Read the code, backtest it and use a demo account first; automated trading can lose money quickly.
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