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
Scalpy Scalping Algorithm
Scalpy is an automated scalping robot for MetaTrader 4 that utilizes multiple Exponential Moving Averages across different timeframes to identify entry signals.
GitHub stars2
Forks0
Last update7 years ago15 Apr 2019
LicenceNone stated
Overview
The system analyzes the 8 and 21 EMAs on the H1 timeframe for trend anchoring while using the 8, 13, and 21 EMAs on the M5 chart for execution. It includes a money management module that scales lot sizes relative to account equity and risk settings. Users can choose between a dual-target take profit system or a trailing stop for exits. The repository documentation is minimal.
- Multi-timeframe EMA trend analysis
- Dynamic equity-based lot sizing
- Dual-target take profit and trailing stop modes
- Customizable risk percentage and decrease factor
Details
Author
pedrojespina on GitHub
Type
Trading robot
Platform
MetaTrader 4 (MQL4)
Strategy
Scalping, Indicator crossover, Trend following
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 Scalpy_v3.mq4. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
Lots | double | 0.2 | |
mn | int | 555 | |
piprisk_factor | double | 1.0 | |
pips | int | 3 | |
MoneyManagement | bool | TRUE | |
RiskPercent | double | 2 | |
DecreaseFactor | int | 3 |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone pedrojespina/Scalping-Algorithm 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.
Similar expert advisors
Ray Scalper is an automated expert advisor for MetaTrader 4 that uses technical indicators to trade both trend-following and counter-trend strategies. It monitors Bollinger Bands, Moving Averages, and Stochastic crossovers to trigger entries. The robot allows users to toggle between trend and anti-trend modes and inclu
Average Scalper is a MetaTrader 4 expert advisor designed for trend-following strategies based on moving average levels and volatility ranges. It 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
This MetaTrader 4 expert advisor implements a trend-following scalping strategy using a combination of moving averages and the Stochastic oscillator. It 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 Stochast
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
EA Scalper XAUUSD is an automated trading research project for MetaTrader 5 focused on gold. It employs a multifaceted entry strategy using Smart Money Concepts like order blocks and liquidity sweeps, alongside moving average crossovers and Fibonacci zones. The EA includes a self-learning module designed to adapt to di
Need a broker for MT4?
Compare regulated brokers that support MetaTrader, with spreads, minimum deposits and leverage side by side.
Compare brokers