High/Low Breakout Scalper

[Correy]

Thread quiet for a long time....scorpion are you still here? Any further progress on this EA?

[topcat275]

any one have a favorite scalping system they could post. thanks

[abgcompu]

I did a backtest on the original EA all were lost trade. NO positive.
So if we were to do everything backward, can this be a winner??):

[emmaowu]

Hello Scorpion,

Please, will it be possible to make an EA that will look at the previous Bar high and low, and place a pending order on that bar on any time frame it is put.Eg if it is put on the M15 or M30 chart, it will look at the previous M15 or M30 bar formed and place a pending order at the high,low .Thank for the great work.

[piprunner2000]

My friend, that is exactly what the current EA does. You only need to run it on whatever chart timeframe you are looking to trade and it will always look at the previous candle, it doesn't matter if it's 5 min, 15 min, 1 hr, etc. The same rules apply. When you run your backtest, just look at the backtest chart and it will show you where the backtester made the trades.

[piprunner2000]

Originally Posted by scorpion

This expert advisor buys when price is above yesterday high and sell when below yesterday low. It closes the order when price reaches target net profit (5 pips ) or net loss (-5 pips) or when it's opened for 5 minutes.

Parameters and Features:

• Redefinable breakout pips. (Breakout_Pips = x pips away from yesterday High or Low)
• Order lifetime = 5 minutes. (Order_Life_Mins = x mins)
• Time session filter. (From_Hour, From_Min, To_Hour, To_Min, 00:00 to 24:00 chart time by default)
• Initial stop loss = 3 pips + 2 pips spread = 5 pips net loss.
• Initial take profit = 7 pips – 2 pips spread = 5 pips net profit.
• Mini account support. (Pip_Value = 1 for Mini)
• Multiple pairs support.

Enjoys!

I don't know if I quite understand the Time session filter feature. Let's say I want the system to operate between the open of the European markets at 3am EST and the close of US markets at 5pm EST. How would I reflect that in the time session filter? Also, is there a possibility of you adding a feature that will make the system only trade X number of times per session. So that if I didn't want the system to take more than 1 trade per day, I could set the # of trades to take at 1. I think I can make a tremendous amount of pips using this system by setting it to take a trade at the opening of the European session, but only taking one trade so that either the take profit is hit, stop loss is hit, or the trade is closed at the end of the session manually. I would then Martingale my losses.

thanks for the help.

[murillo2004]

Thamk you for the system indicator