Trading utilities for MetaTrader 5
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MetaTrader 5
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Overview
Trend Snipper Scalper is a FULLY automated Expert Adviser which uses a combination of indicators to analyse the forex market for quick short and long trades opportunity in a 30 min Gold or XUAUSD Chart. The scalper has a Economic News filter which enables the robot to avoid trading during news time. The robot provides the user with many trades control options and money management to ensure success over its trades. For best results, use the default inputs setting shown in the Screenshopts.
RECOMMENDATIONSM
- Minimum account balance 200 USD
- Best Symbols: GOLD or XAUUSD 30 min Chart
- THE STRATEGY TEST RESULTS DO NOT ACCOUNT FOR NEWS AVOIDING FILTER, if it was posible to backtest with the news filter the results could be better.
- In the Inputs, Under NEWS TRADING SETTINGS, Change the time zone value to the correct GMT time zone in your country. This time zone is important because it allows the robot to avoid news at the correct time. You can contact the programmer to help you with this by leaving a text message.
INSTALLATION HINT:
- After downloading the robot from the platform into your meta trader, in your mt4 platform go to: Tool>Options>Expert advisors. Check the “Allow WebRequest for listed URL” box
- Add the following URLs in the space below the checked box:
- http://ec.forexprostools.com and
- https://www.google.com/finance
3. Click OKAY and add the robot onto the chart. Ensure it is a 30 minutes chart.
4. Wait for the robot to draw lines on the chart. If no lines, click the refresh button redownload the news file. OR repeat step 2.
5. If the vertical lines are drawn, your robot is perfect.
ROBOT MAIN INPUTS
- Lot Value Mode: The are two option modes, Fixed lotsize and Auto_Lotside calculated buy the robot based on your account balance.
- Lotsize per 100 of Balance: When the Lot Value Mode is set to Auto_Lot, the this value is used to calculate the lotsize. We recommend setting this value to 0.005 for low risk trading.
- Fixed Lot value: Trading lotsize value when using a fixed lotsize.
- Use visible take profit: The EA will add take profit lines to all trades
- Use Sl: The stoploss protects you from long time draw downs. However, sometimes it cause many loses than when it is not used. When using it, used a minimum stop value of 600 pips. (Stoploss not recommended with default settings.
- Trade on Friday: We highly recommend the scalper not to trade of Friday, please set this to false.
- Monday Start Trading Hour: The time the robot will start opening trades on mondays. Due to gaps the comes up on Mondays, we recommend the scalper to only start trading after 8 AM.
- Maximum Spread: The value for the symbol spread for which the EA can only open tades it is less than the value provided. The EA will will not open trades if the spread is more than this value.
