Btcusd Support Resistance Scalper calculates price floors and ceilings based on a customizable lookback period. The robot executes trades when the price enters a defined offset zone around these levels, aiming to capture short-term bounces. Risk is managed with fixed lot sizes and hard stop loss and take profit levels for every position. The EA also includes logic to close existing orders when new signals are generated.
Automated support and resistance level calculation
Read from BTCUSD_SR_Scalper.mq5. Defaults are the author's; change them in the EA's Inputs tab.
Name
Type
Default
Description
LotSize
double
0.01
LookbackBars
int
50
Bars to calculate S/R
ResistanceOffset
double
10
Points above resistance
SupportOffset
double
10
Points below support
TakeProfit
double
20
Points
StopLoss
double
15
Points
TradeSymbol
string
BTCUSD
TF
ENUM_TIMEFRAMES
PERIOD_M1
UseOnlyBuyAtSupport
bool
true
UseOnlySeolAtResistance
bool
true
How to install it
1Download the sourceUse "Download source (.zip)" above, or clone GaryIgnatius/BTCUSD-Scalping-Robot-MT5 from GitHub, and unzip it.
2Open the data folderIn MetaTrader choose File, then Open Data Folder, and go to MQL5/Experts.
3Copy the filesCopy the .mq5 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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