ProgtorHAL
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Dear Traders,
I have developed this client side script for a scalping expert advisor. It's similar to the MT4 Carl Player EA, or the Kendo FX trading method. It could be applied to any of the 4 major currency pairs, and usually using 1m to 5m timeframes.
Rules for entering the trade:
1) Three to four consecutive candles to close either above (Long trade) or below (short trade) the 10 EMA. This candles must not touch the 10 EMA line.
2) The sum of the candle bodies(not the wicks) of the previous 3 or 4 candles analized must be equal or bigger than 10 pips.
Once these rules are met, a trade is triggered. Long if candles are above 10 EMA or Short if candles are below the 10 EMA.
Features:
- Two trades are generated. The first one is the smaller, a third of the total traded, and it takes profit at 10 pips. The second one (the other 2/3 of the total ammount) don't have profit limit and uses a trailing stop of 10 pips until is stopped.
- The initial Stop Loss is set 10 pips above or below the highest or lowest candle wick of the candles which triggered the trade.
DISCLAIMER: This expert advisor is only made for educational purposes. It is advised to backtest it first or use it on demo accounts. If you decide to use it on real accounts, you do it at your own risk. I, as the author, am not responsible for any material or any other type of losses occurring when/during the usage of this expert advisor!
Thank you,
ProgtorHAL
I have developed this client side script for a scalping expert advisor. It's similar to the MT4 Carl Player EA, or the Kendo FX trading method. It could be applied to any of the 4 major currency pairs, and usually using 1m to 5m timeframes.
Rules for entering the trade:
1) Three to four consecutive candles to close either above (Long trade) or below (short trade) the 10 EMA. This candles must not touch the 10 EMA line.
2) The sum of the candle bodies(not the wicks) of the previous 3 or 4 candles analized must be equal or bigger than 10 pips.
Once these rules are met, a trade is triggered. Long if candles are above 10 EMA or Short if candles are below the 10 EMA.
Features:
- Two trades are generated. The first one is the smaller, a third of the total traded, and it takes profit at 10 pips. The second one (the other 2/3 of the total ammount) don't have profit limit and uses a trailing stop of 10 pips until is stopped.
- The initial Stop Loss is set 10 pips above or below the highest or lowest candle wick of the candles which triggered the trade.
DISCLAIMER: This expert advisor is only made for educational purposes. It is advised to backtest it first or use it on demo accounts. If you decide to use it on real accounts, you do it at your own risk. I, as the author, am not responsible for any material or any other type of losses occurring when/during the usage of this expert advisor!
Thank you,
ProgtorHAL
