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Author Topic: Best Free Scalper EA by FXautomater  (Read 207681 times)

Offline wallstreet.forex.robot

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Best Free Scalper EA by FXautomater
« on: December 06, 2017, 10:51:22 AM »
I would like to make a gift to the community - a completely functional and completely free Asian Session scalper.

I just cannot resist myself to name it Best Free Scalper EA  :) ... besides the joke I truly believe this is the best completely free Asian scalper ever released to the public. The entire logic is 100% my original - not even a symbol stolen from anyone. The core logic is similar to the first Asian scalper I invented back in 2005-2006, which became the most popular EA in Japan back in these days.

 It seems that the current market conditions are good for this kind of systems, so if you have a broker with low spreads during the Asian session you can consider trying this system. As far our experience shows the best pairs for this kind of trading are GBPCAD, GBPUSD, EURCHF, USDJPY, EURGBP, USDCAD and USDCHF. EURUSD shows not bad results recently too.

The logic is very simple but effective - the EA uses breakouts of the Bollinger Bands for entry and exit signals. By my opinion the Bollinger Bands is the best technical indicator ever created - Thank you Mr. John Bollinger! During the years I've tried many other indicators and strategies but the Bollinger Bands has proven itself as the best indicator for scalping the market volatility.

Please, bear in mind that the performance of this kind of trading is highly limited by the brokers conditions - do not even think to try it on random brokers - only on well-known ECN brokers with tight spreads.

Reasonable stop loss levels varies between 20 and 60 pips.
You can use small fixed TP between 4-8 pips, or leave the exit logic to take care of the position.

The exit logic is also based on the BB indicator and it will close the trade even on a loss when the price is near or breaks the opposite BB line. This is commanded by the "BandBreakExit" parameter which works best from minus one to plus one-two.

Here are the EA parameters:

Magic - magic number - it is extremely important to keep this different for all robots 
     
MaxSpread - maximum allowed spread 
 
TicksTrade - if it is "false" the logic will be executed at the beginning of M1 bar, otherwise it will calculate and trade on a new price tick. The TicksTrade is potentially more profitable, but I prefer to use M1 open for testing and optimizations as this is the only reliable method for EA testing and tuning.

StopLoss
- stop loss value in standard 4 digit pips
   
TakeProfit - take profit value in standard 4 digit pips 
   
BandPeriod - the period of the Bollinger Bands indicator

BandBreakEntry - breakout in 4 digit pips of the BB line to initiate an opposite trade (the value could be negative)

BandBreakExit
- breakout in 4 digit pips of the opposite BB line to initiate closing of the existing trade (the value could be negative)

UseTrendFilter
- change this to "true" if you want to trade only in the direction of the trend defined by the two MAs below. If you use the trend filter for Asian session scalping you will get higher profit factor, but less trades. Generally, you do not need trend filter for Asian session scalping, but if you want extra safety it will help.

MA_Fast_Period - period of the fast moving average

MA_Slow_Period - period of the slow moving average

MA_Trend_TF - timeframe of both MAs

TimeRestriction - by default this is "true" so the EA will trade only in the hours listed below. If you do not want to use the time filtration, change this parameter to "false".

CTHour1 - 6 - six possible slots for trading hours. Values 0 - 23 activate the slot. Enter a large value like 55 to deactivate the slot. Best results from our experience are achieved 21 and 22 GMT. You absolutely must adapt this hours to your brokers GMT shift. I am using Alpari data for all my tests, because they have the best long-term real history data in the data center. So for Alpari the trading hours are 23 and 0 as the GMT shift is +2 for Alpari.

RecoveryMode
- this parameter activates the drawdown recovery. Works when AutoMM>0

FixedLots - fixed trading lots when AutoMM=0

AutoMM - value greater than zero activates proportional money management, as example AutoMM=5 means 0.05 lots at 1000 account.     

AutoMM_Max - maximum allowed value of the proportional money management when RecoveryMode is used.   
 
MMTrades - number of history trades on base of which the drawdown of the RecoveryMode function is calculated 
             
RecoveryFactor - drawdown positive compensation in percent of the drawdown

RecoveryMultiplier - trading volume multiplier in RecoveryMode

LossPausePips - pause after loss algorithm - loss in pips

LossPauseHours
- pause after loss algorithm - pause in hours after loss greater than LossPausePips

The EA has high spread protection - this is crucial, because if you use limit orders as example you can't control this and you will take some trades with 10 or even 20 pips spread - one such trade will erase the average profit from 10 good trade as the best average expectancy of this type of trading is 2-3 pips in the best case. This is why I am not using limit orders.

The default settings are for GBPUSD and I will try to provide settings for several other pairs. The settings I provide are subjective - they are based on my personal experience and understanding. No one knows which set of settings will work best in future out of the optimization sample in real market conditions. Please, make your own tests and find the best settings for you!

Here are some optimization advises:


- Do not use genetic algorithm

- Optimize 2 parameters at once at most - I optimize only one at a time and look for the most logical value

- Optimize for at least 6 months and at least 200 trades - this is the absolute minimum to avoid curve fitting and get some reasonable parameters which will have at least some chance to be profitable in real conditions.

- Perform at most 5 optimization cycles for all parameters.

- Use reasonable large optimization step - as example if you optimize stop loss, reasonable step would be 5 pips not 1 pips - about 5% of the reasonable optimization range of the parameter.

- I am using M1 open price test for all my EAs - it is good enough.

- I am not using tick tests as they are too unreliable.

And now the fun part:
By using this EA, you acknowledge that you are familiar with all risks and that you are solely responsible for the outcomes of your decisions. I accept no liability whatsoever for any direct or consequential loss arising from the use of this product. It's to be noted carefully in this respect, that past results are not necessarily indicative of future performance.

Finally - please test and share your experience and best settings with the other users!



UPDATE: 12.12.2017 - version 1.1 added with stealth stop loss functionality.

Description of the new parameters from the Wallstreet Forex Robot user guide:

StealthMode true/false: a mode which conceals stoploss and takeprofit levels in program logic, making them invisible to brokers. If you use this mode, the stoploss and takeprofit orders are not located in the trading server. In this case, if your trading terminal is not connected, or the robot is not working, your orders would not be protected. However, we are strongly encouraging using the StealthMode, because in some cases the visible StopLoss levels could be attacked tendentiously by algorithms that some unethical brokers could use. 

EmergencyStopDist:
this parameter ensures a second level of protection, when StealthMode is used. At values greater than zero it activates a second level of true (Emergency) StopLoss on a greater distance then the virtual hidden StopLoss is located. In such case the value of the new emergency StopLoss will be the sum of the EmergencyStopDist value plus the value of the hidden StopLoss.


UPDATE: 12.18.2017 - version 1.2 added

 - Friday filter added
 - Wednesday swap filter added

I think the new parameters are clear enough:

== Friday Filter ==
FridayFilter - true/false
FridayEndHour

== Wednesday Swap Filter ==
WednesdaySwapFilter - true/false
MaxNegSwapPips - minus 0.5 pips seems reasonable threshold for me

The Wednesday swap filter cancels all trades in Wednesday evening in the direction of the negative swap, if the swap is worse than MaxNegSwapPips parameter.

I personally do not use the Friday filter as it reduces the profit and the Monday gap is 50/50 for me in long term.


UPDATE: 21.02.2018 - version 1.3 added

 - Fixed Spread HUD issue with JPY pairs
 - Added possibility to change the trade comment
 - A smile added

UPDATE: 21.02.2018 - version 1.4 added

 - Added rollover time filter
 - Added rollover additional high spread filter

The new parameters are:

RolloverTimeFilter=true - switches on/off the rollover time filter

MinutesBefore=5 - minute time interval before midnight in which all trading operations will be canceled

MinutesAfter=10 - minute time interval after midnight in which all trading operations will be canceled

x_MaxSpreadFilter=true -  switches on/off the rollover additional spread filter

x_MaxSpread=2 - multiplies the initial MaxSpread, which will be allowed in general, before canceling all trading operations. As example if the MaxSpread is 6 and x_MaxSpread is 2, all trading operations will be canceled if the spread exceeds 6x2=12 pips.

UPDATE: 23.03.2018 - version 1.5 added
« Last Edit: May 15, 2018, 07:38:07 AM by HFT Group »
This is the official donnaforex profile of the WallStreet Forex Robot team. If you have support issues or questions, please use our support system, because we cannot guarantee we will be able to monitor our topics in donnaforex all the time.


Online diyforexskills

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Re: Best Free Scalper EA by FXautomater
« Reply #1 on: December 06, 2017, 11:43:26 AM »
Good for you. I'll give it a whirl on IC Markets soon.
Information and product page - http://www.diyforexskills.com/forex-tools/




Online donbon2

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Re: Best Free Scalper EA by FXautomater
« Reply #2 on: December 06, 2017, 12:35:54 PM »
thanks fx automater -- will see if can find a good set
Broker - IC Markets   VPS - Amazon EC2 + CNS  

EA:
Powerflow NZDCAD
PZ Averaging EA
Autotrader Custom

News - Thomson Reuters Eikon
Trade Manager - Visual Trading Console for MT4
Trading Rebates - through CashBackFX
Trade Notification EA - TradeTalk from FX Blue - free
VPS - I recommend Amazon EC2 - if you qualify for a Broker Sponsored one get CNS
PZ Support/Resistance Indicator / Day Trading Indicator



Offline dupapa

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Re: Best Free Scalper EA by FXautomater
« Reply #3 on: December 06, 2017, 01:26:15 PM »
Thats very kind of you to give out for free

Many thanks for this

topman!

:)

Offline equityfx

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Re: Best Free Scalper EA by FXautomater
« Reply #4 on: December 06, 2017, 02:19:49 PM »
Do you have any data on this scalper. I mean anything like percentage of winning or trade history at least 1000 trades? Need to test things but any data will help in demo trading it.

Offline nick3232

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Re: Best Free Scalper EA by FXautomater
« Reply #5 on: December 06, 2017, 02:44:53 PM »
thanks ,domoing it at icm,what is the difference withe ws asia?
« Last Edit: December 06, 2017, 03:00:08 PM by nck »

Offline wallstreet.forex.robot

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Re: Best Free Scalper EA by FXautomater
« Reply #6 on: December 06, 2017, 02:48:31 PM »
Do you have any data on this scalper. I mean anything like percentage of winning or trade history at least 1000 trades? Need to test things but any data will help in demo trading it.

I will make some backtest later on Alpari. I do not have any real results, but I've made more than 1000% in several months on several real accounts with the same idea before Asian scalping became widely exploited - this was before 2008. Now you cannot even think about such results, but you can make some profit if you find a decent broker.
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Offline wallstreet.forex.robot

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Re: Best Free Scalper EA by FXautomater
« Reply #7 on: December 06, 2017, 02:51:44 PM »
thank ,domoing it at icm,what is the difference withe ws asia?

It is similar - the core logic is almost the same with some small differences, but you can tune it better as all parameters are available.
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Offline wallstreet.forex.robot

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Re: Best Free Scalper EA by FXautomater
« Reply #8 on: December 06, 2017, 02:56:24 PM »
EURUSD settings added. One more time - the default are for GBPUSD and the time settings for all settings I provide are for GMT+2 - Alpari data.
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Offline nick3232

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Re: Best Free Scalper EA by FXautomater
« Reply #9 on: December 06, 2017, 03:02:26 PM »
excellent contribution wsfr

BTW IC Market  GMT +2 AS WELL
« Last Edit: December 06, 2017, 03:35:29 PM by nck »

Offline nick3232

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Re: Best Free Scalper EA by FXautomater
« Reply #10 on: December 06, 2017, 03:22:20 PM »
will you post the set files for each pairs ?

will be posting my results here


btw ,what Ma time frame you do you use for the determination of the  trend ?
« Last Edit: December 06, 2017, 03:41:48 PM by nck »

Offline wallstreet.forex.robot

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Re: Best Free Scalper EA by FXautomater
« Reply #11 on: December 06, 2017, 03:46:52 PM »
EURCHF set added.
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Online mauricejac

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Re: Best Free Scalper EA by FXautomater
« Reply #12 on: December 06, 2017, 05:46:59 PM »
Thank you very much! I will test it

Offline Super Andrew

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Re: Best Free Scalper EA by FXautomater
« Reply #13 on: December 06, 2017, 05:50:43 PM »
Thank you!
I'll test it with EU pair  :)

Offline wallstreet.forex.robot

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Re: Best Free Scalper EA by FXautomater
« Reply #14 on: December 06, 2017, 05:54:55 PM »
excellent contribution wsfr

BTW IC Market  GMT +2 AS WELL

Great :)
This is the official donnaforex profile of the WallStreet Forex Robot team. If you have support issues or questions, please use our support system, because we cannot guarantee we will be able to monitor our topics in donnaforex all the time.


 

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