GerFX Density Scalper 3.6 Latest Incl. Key MT4IMPORTANT: Please contact me after buying or renting for the correct key paramter. Before you buy a night scalper please be aware of the risks involved: 1) Past performance is no guarantee of future profitability (the EA could also make losses). 2) The backtests shown (e.g. in screenshots) are highly optimized to find the best parameters but therefore results cannot be transferred to live trading. 3) Any mean reversion can get caught on the wrong side of a fast movements due to unexpected news or flash crashes. This strategy will always use a stop loss, but still execution of the SL depends on your broker. 4) Night scalpers are dependent on good brokerage conditions, like low spread and slippage, which might be worse on high lot sizes. GerFX Density Scalper (MT5 version here) is a mean reversion system during the quiet hours of the day. It is similar to QuantFlow Scalper but optimized in a few ways to reduce slippage. For example, the entry logic was reduced to make the calculation faster and the exit is done via take profit orders, which can even lead to positive slippage on exiting a trade. Additionally, it offers various paramters for optimization of entry conditions and other improvements. It does not use martingale or grid and has a stop loss for every position. Symbols: EURUSD, GBPUSD, EURCHF, USDCHF, USDCAD, EURCAD, EURAUD, AUDUSD, AUDNZD, AUDCAD, CHFJPY, (experimental: USDJPY, EURJPY, EURGBP, EURNZD, GBPAUD, NZDUSD, NZDCAD) Time frame: M5 Max. drawdown in 16 year backtest: $35-50 per 0.01 (depending on number of pairs) Live monitoring (my signals are also using the breaking news filter) Please read the blog post for instructions on how to set up the EA and to download backtests (or use this direct link). If GMT auto settings are used, the EA will automatically try to detect the GMT offset. Best double check it manually when used the first time. The EA should run on a VPS continuously without interruption (also Friday evening) to store the historic data. Please allow web requests to the following URLs for the calendar news filter and automatic GMT offset calculation:
- http://breaking.fxdata.cc (only needed if you use the breaking news filter)
ParametersGeneral Trade Settings
- dailyEquityStopPercentage: IMPORTANT: please read point 6 in the blog post.
- orderComment – Each trade will show this comment in history tab.
- magicNumber – individual magic number. The EA will only manage position of the chart symbol with this magic number.
- lotType – “fixed” or “increasing”, where the lot size is calculated automatically.
- fixLots – fixed lot size in case lotType = fixed.
- lotStep – how much the lot size should be increased every equityPerStep (if lotType = increasing).
- equityHardStop – if the equity falls below that level the EA will close open positions (only of this strategy) and will not open any new positions.
- pipInPoints – for 5-digit brokers, this should be 10, for 4-digit brokers 1.
- maxSpreadPips – maximum spread allowed for entry. If smaller 0, auto settings will be used, which are different for each currency pair.
- startHourGMT – when to start trading (GMT).
- endHourGMT – when to stop trading (GMT).
- waitMinutesBetweenSameSideEntry– After a buy position another buy position will only be allowed after the given time. Same for sell positions. If you are sleeping during the trading hours you could limit the potential total risk with this parameter. If the last hour was a loss the EA will automatically increase waitMinutesBetweenEntries by 15 minutes.
- autoGMT – whether to determine GMT offset automatically.
- manualGMToffsetWinter – manual GMT offset in winter (if autoGMT=false or in Tester)
- manualGMToffsetSummer – manual GMT offset in summer (if autoGMT=false or in Tester)