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
Forex Scalping Strategy
This MetaTrader 4 expert advisor implements a trend-following scalping strategy using a combination of moving averages and the Stochastic oscillator.
GitHub stars1
Forks0
Last update6 years ago23 Mar 2020
LicenceNone stated
Overview
Forex Scalping Strategy identifies the primary trend using a 200-period Simple Moving Average and a 21-period Exponential Moving Average. Trades are entered during pullbacks when the Stochastic oscillator crosses in the direction of the trend from overbought or oversold regions. The robot uses a fixed lot size of 0.01 and a mandatory stop loss for risk control. Exit logic involves monitoring Stochastic levels to close positions. The repository lacks documentation and contains only the source code.
- Trend filtering with 200 SMA and 21 EMA
- Stochastic oscillator crossover entry signals
- Configurable hard stop loss protection
- Automatic trade execution with magic number tracking
Details
Author
taivoit1993 on GitHub
Type
Trading robot
Platform
MetaTrader 4 (MQL4)
Strategy
Trend following, Scalping, Indicator crossover
Markets
Forex
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
Input parameters
Read from ForexScalpingStrateries01.mq4. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
SMA_Period | int | 200 | |
EMA_Period | int | 21 | |
k_percent | int | 5 | |
d_percent | int | 3 | |
slowing | int | 3 | |
stopLoss | int | 10 | |
magicNumber | int | 5555 |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone taivoit1993/Robot_Trading 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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