Scalpflip EA is an automated scalping robot for MetaTrader 5 that utilizes a multi-layered technical analysis approach. It offers three entry modes: trend-following, mean-reversion, and a smart mode that selects the strategy based on current market conditions. The system filters trades using the Relative Strength Index
Trading robot · MT5
Envelope Scalper
This MetaTrader 5 expert advisor implements a counter-trend scalping strategy using price envelopes.
GitHub stars2
Forks0
Last update4 years ago29 Jul 2022
LicenceNone stated
Overview
The robot calculates an exponential moving average and applies a percentage-based deviation to create upper and lower bands. It enters trades when the price closes outside these bands, targeting a reversal. Positions are closed once the price returns within the envelope boundaries. The system features a time-of-day filter to limit activity to specific hours and uses fixed lot sizing. Notably, the provided code relies on signal-based exits and does not include traditional hard stop loss or take profit inputs.
- Counter-trend envelope scalping strategy
- Adjustable moving average period and deviation percentage
- Time-of-day trading window restrictions
- Automated signal-based exit logic
Details
Author
andhoo on GitHub
Type
Trading robot
Platform
MetaTrader 5 (MQL5)
Strategy
Scalping, Mean reversion
Markets
Forex
Timeframes
M1-M5
Risk profile
- Trades without a fixed stop loss
EA files
Input parameters
Read from envelopescalper.mq5. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
Ma1 | int | 200 | Moving average |
Mode | ENUM_MA_METHOD | MODE_EMA | MA mode |
dev | double | 1.0 | Deviation from MA [%] |
lot | double | 0.01 | Lot-size |
start | string | 02:00 | Start time [hh:mm] |
stop | string | 18:00 | Stop time [hh:mm] |
Magic | long | 2143 | Magic # |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone andhoo/Envelopescalper 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, and any .mqh files into the Include folder the code expects.
- 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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