Trading utilities for MetaTrader 4
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MetaTrader 4
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Overview
SwiftCap Scalping EA is a fully automated trading system designed to trade all major CFD markets, including forex, metals, and indices. The system is built on a mathematical edge that takes advantage of small inefficiencies in the market. It identifies rapid price movements within a set time and opens trades in the same direction to capture momentum. Because of this approach, it works effectively across different markets.
Trading Specifications
- Supported Instruments: All CFD assets
- Timeframe: M30
- Recommended Broker: IC Markets (or any broker with low spreads and reliable execution)
- Account Type: Hedging preferred
- Spread Type: Standard account with low spreads works best
- Minimum Deposit: $1000
- Settings: Default settings work for most assets
- VPS: Strongly recommended for 24/5 uptime
Key Inputs Explained
Entry Signal Sensitivity
- This is the most important setting. The lower the value, the more trades the EA will open.
- For forex pairs: use 10–30 points. For gold: use 35–50 points.
- Default is set to 20, which works well for most forex pairs.
- In short: higher values for volatile assets, lower values for less volatile ones.
Take Profit (TP)
- The first trade doesn’t use a TP, it closes with trailing stop settings.
- TP is used for additional DCA trades. When all open trades together reach the TP level per lot in currency, the cycle closes.
Stop Loss (SL)
- By default, no stop loss is used. This adds risk if the market moves against your trade.
- If that happens, the EA opens more trades in the same direction (same lot size) to average out and close the cycle in profit.
Risk Per Trade
- For forex: use 0.01 lots per $1000 balance.
- For gold: use 0.01 lots per $10,000 balance.
- For low budget, a cent account is recommended.
Timeframe to Run the EA
- The EA itself is not dependent on timeframe for the first entry. Timeframe mainly affects DCA trades.
- During DCA trades, the EA can open one trade per bar if an entry signal appears.
- On smaller timeframes, more DCA trades can open in a shorter period. On higher timeframes, fewer trades open over the same time.
- M30 timeframe is a good balance for most conditions, but you can experiment with higher or lower timeframes to see how the EA behaves.
Best Use and Recommendations
- Works best in ranging markets (sideways price action).
- Can also work in volatile or trending markets, but requires a larger account balance to handle drawdowns.
- Always backtest on multiple assets to understand historical drawdown and adjust risk accordingly.
- Use a demo account first to learn how the EA works before going live.
- For safer trading, build a portfolio of non-correlated assets (so not all trades are exposed to one direction).
- Portfolio set files and ideas will be released soon.
- Since this EA is a scalping system, it places a lot of trades. Use a standard account with no commissions instead of a commissions account to save on trading costs. With a standard account, the EA itself will cover the cost of execution.
Test Demo First
Please test the demo version of this EA in the strategy tester before purchasing. This will help you understand its behavior and set realistic expectations.
If you need help with backtesting, reach out here: https://www.mql5.com/en/users/swiftcapeas .
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Risk Disclosure
Trading CFDs involves high risk due to market volatility. Past performance does not guarantee future results. Only trade with money you can afford to lose and always consider your risk tolerance before using any automated trading system.
