Scalping Project EA represents a free source scalping robot for MT4. It makes use of cutting-edge, new technologies, including a Neural Network and a short-term trading technique on price breakouts. The EA is updated with sophisticated algorithms to decide when to enter/exit the market.
The EA employs numerous intelligent filters to adjust to practically any economic condition. It comes with drawdown limits and sets automatic stop-loss levels to safeguard the trading capital.
This guide explains how the Scalping Project EA performs automated trading in MT4.
Scalping Project EA Strategy
Scalping Project EA applies a popular trading strategy that involves making multiple small trades in a short period of time in order to profit from small price movements. Apart from regular entries, you can use the EA for hedging as well.
This EA is also programmed to add fresh positions to existing trades in favorable market conditions. This strategy helps traders to weigh more on profitable trade setups and take advantage of trend-following market conditions.
Scalping Project EA Features
- Timeframe: M1, M5.
- Suits hedging strategies.
- It can trade several forex pairs simultaneously.
- Enables multi-lot trading with auto SL and TP assessments.
- Supports ECN and NDD trading accounts.
- Includes both trailing start and trailing stop features.
- Breakeven trading options for safeguarding investments.
Scalping Project EA MT4 Settings
- Lots – Initial trains lot by default.
- MM – Enable/disable the money management feature.
- Risk – Specify the fixed risk-to-reward ratio.
- Mini Lot – Minimum trading lot.
- Max Lot – Maximum trading lot.
- Lot Digits – Number of digits to be counted while determining the trading lot size.
- Profit Management – Activate/deactivate the profit management feature.
- Basket Dollars – Enable/disable the basket dollars trading strategy.
- Dollars – Set dollars as the base currency.
- Orders Management – Enable/disable the orders management feature.
- ECN – Enable it if you’re trading with an ECN broker.
- Opposite Close – Automatically disables/exits an opposite entry of the same asset.
- Reverse Signals – Enable it if you wish the EA to trade based on counter-trend or trend reversal signals.
- Max Trades – Maximum number of open orders allowed at a time.
- Trades Per Bar – Maximum trades to be executed based on each signal bar.
- Hide SL – Show/hide stop-loss limits.
- Hide TP – Show/hide take-profit targets.
- Stop Loss – Default stop-loss limit.
- Take Profit – Default take-profit target.
- Trailing Start – The minimum trading lot used to add more positions to existing orders.
- Trailing Stop – Default trailing stop limit.
- Trailing Step – Input the trailing step value.
- Breakeven Gain – Minimum profit margin while placing an order to breakeven position.
- Breakeven – Decide when to bring the SL to break even.
- Max Spread – Maximum spread limit while considering a market entry or exit.
- One-time Calculation – Activate/deactivate the one-time calculation trading strategy.
- Enter On Open Bar – Enable/disable trading while a fresh bar opens.
- One Side At A Time – Enable/disable entering both buy and sell of the same asset.
- Max Open Orders – Maximum number of floating orders at a time.
- Magic ID – Input a unique magic identification number for the EA.
- Start Time – Automatic activation time of the EA.
- End Time – The time when the EA gets deactivated automatically.
Scalping Project EA Summary
The Scalping Project EA can help you automate your trading and take advantage of small price movements in forex markets. Just remember to use proper risk management techniques and adjust the settings to fit your trading strategy. It’s ideal to begin testing the EA in an MT4 demo account before you consider investing real money in it.
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