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This algorithmic scalping robot for MetaTrader 4 and 5 uses a five-factor confluence engine to identify trade entries. It monitors RSI extremes, Bollinger Band breakouts, MACD momentum, EMA ribbons, and volume acceleration. The EA employs percentage-based risk management with a strict stop loss and a flexible take prof
Trading robot · MT4
Ray Scalper
Ray Scalper is an automated expert advisor for MetaTrader 4 that uses technical indicators to trade both trend-following and counter-trend strategies.
GitHub stars2
Forks2
Last update6 years ago28 Oct 2019
LicenceNone stated
Overview
Ray Scalper monitors Bollinger Bands, Moving Averages, and Stochastic crossovers to trigger entries. The robot allows users to toggle between trend and anti-trend modes and includes risk controls for stop loss and take profit, which can be defined by pips or volatility. Traders can also restrict the system to only buy or sell positions. The provided documentation is minimal as the repository lacks a README.
- Stochastic and Moving Average crossover logic
- Dual trend and counter-trend execution modes
- Volatility-based or fixed pip stop loss
- Independent long and short position toggles
Details
Author
ThePathsOfSaga on GitHub
Type
Trading robot
Platform
MetaTrader 4 (MQL4)
Strategy
Scalping, Indicator crossover, Trend following, Mean reversion
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 RayScalper.mq4. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
magic | int | 10 | MAGIC NUMBER |
SL_MODE | int | 0 | MODO SL: 0 - VOL | 1 - PIPS |
SL | double | 5 | SL (Volatilidad o Pips) |
TP | double | 5 | TP |
lots | double | 0.01 | LOTAJE |
lo_allow | bool | true | LARGOS PERMITIDOS |
so_allow | bool | true | CORTOS PERMITIDOS |
antiten | bool | true | MODO ANTITENDENCIAL |
tend | bool | true | MODO TENDENCIAL |
stoch_long_p | int | 5 | PERIODO LARGO STOCH |
stoch_short_p | int | 3 | PERIODO CORTO STOCH |
trig_long | int | 30 | GATILLO STOCH LARGOS |
Show all 13 inputs
| Name | Type | Default | Description |
|---|---|---|---|
trig_short | int | 70 | GATILLO STOCH CORTOS |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone ThePathsOfSaga/RetoComunitarioSAGAQUANT-EAs 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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