Black Scorpion
EA Black Scorpion
The EA uses the strategy based on breakout.
Breakout trading is one of the most popular and most frequently used strategies among Forex traders. This strategy has been developed a long ago and has been repeatedly tested on history data, showing superior results.
The EA uses 3 types of trend breakouts, (support and resistance breakout, downtrend breakout, uptrend breakout).
The EA uses a very small SL so the account is always protected from equity drawdown with a very low risk-per-trade.
It uses an adaptive trailing stop algorithm.
The EA uses a system of closing positions during slippages.
It was backtested and optimized using real ticks with 99,9% quality. It has successfully completed stress testing.
The EA contains the algorithm of statistics collection with output on the information panel.
Monitoring: https://www.mql5.com/en/signals/author/profi_mql
МetaТrader 5 version: https://www.mql5.com/en/market/product/34554
Requirements and Recommendations
- Before using on a live account, test the EA with minimal risk.
- Low spreads + low commission + high quality execution are important when choosing a broker to trade.
- Use VPS server with minimal network latency to the broker's server;
- Maximum Spread — from 0 - 20 points ( 0.0 to 2.0 pips).
- Maximum Stop Level — from 0 - 5 points ( 0.0 to 0.5 pips).
- Maximum freeze level — 0 points ( 0.0 pips).
Parameters
Information panel:
- Show_Info_Panel — Information panel. (at the value false - Speeds up the testing in the strategy tester).
Magic:
- Magic — trades identifier.
Comment:
- Order_Comment— Comments to the order.
Slippage:
- Slippage — Allowed slippage before an order triggers.
- Max_Spread — Maximum Spread allowed before pending order is triggered.
- Order_Type — trading direction.
Fixed Lot:
- Fixed_Lot — Fixed lot ( if "Use_Risk_MM" = false ).
Risk Money Management:
- Use_Risk_MM — At the value 'true' the lot size increases as the account balance grows.( Risk Management ).
- Percentage_Risk — Increase the lot size based on balance.( Risk Management % ).
Take Profit:
- Take_Profit — Take profit level in points.
Stop loss:
- Stop_Loss — Stop loss in points.
- Use_Break_Even — If this is true Stoploss price will be moved to breakeven when price is above target points.
- Breakeven_Target_PipsInp — When price is above this value breakeven will be triggered.
- Breakeven_Jump_PipsInp — Stoploss will be moved using this value to breakeven.
Trailing Stop settings.
- Use_Trailing — If this is true, profit will be protected with trailing stop.
- Trailing_Stop — Trailing points, when the position is in profit.
- Trailing_Step — Trailing step, when the position is in profit.
Adaptive trailing:
- Adaptive_Trailing_to_slippages — Adaptive trailing stop.
- Change_correction_coefficient — Trailing sensitivity coefficient.
- Adaptive_by_Time — Algorithm of adaptive trailing by time.
- Time_Scale — Time interval for price analysis.
Trading by time within the day:
- Use time — If true trading will be performed by time.
- Time_Setting — Server time or computer time.
- GMT_mode = GMT offset of the broker server time; ( 0 - not used ).
- Every_Day_Start — Operation start time (hh:mm).
- Every_Day_End — Operation end time (hh:mm).
Operation end time on Friday:
- Use time — If true trading will be performed by time.
- Time_Setting — Server time or computer time.
- GMT_mode = GMT offset of the broker server time; ( 0 - not used ).
- Disable_in_Friday — Operation end time on Friday (hh:mm).
