Silly Scalping EA

Trading Systems Free Forex Trading Systems
21

Hi!

At the moment I have too little free time to get involved into further development. I’ve started implementing some changes, but the expert is non functional yet (and the code is really ugly).
Next ideas:

  • change entry trigger from long bar to something else (any ideas welcome)
  • create trailing stop loss and breakeven for whole grid
  • add option to run “exponential grid” where step size for next grid steps is getting larger - this way we can cover larger moves with the same number of grid steps
  • add option to close the grid and reopen the same position size in single trade - not sure, if this makes sense, but it should reduce number of open positions

Cheers,
Wilczasty

1 Like
22

Thanks for your reply. I had some interesting results using your first version (in backtest). However the cost-averaging method always fears me ;-).

23

Will you share your interesting results? :slight_smile:

Averaging down also makes me uneasy, but if it works…
Generally I use dollar cost averaging for my longer term investments and it works very good. Bummer, it would not work as good for forex, as stocks have general long bias in the long run.

24

I backtested the EA from first January 2021 to last day of June 2021. The results seems to be profitable both in EURUSD and GBPUSD (M15 and spread sets to current).

However, I noticed that I had up to 95 open trades in EURUSD during that period, which is pretty scary :grimacing:.

25

If you’re using the version with grids - try bigger spacing :slight_smile:
If the older one with trades on each next candle - well that’s why I’ve developed the grid, as opening on each candle is not very good for the average price level - with grid you have more control over average and less open trades. I aim to have 10-20 open grid levels

26

Ok thanks for the info!

27

Hi All,

After dozens of iterations, I’ve got a new version of silly scalper to share.
It is based on RSI and with safest settings should be able to pull 1% annual gain per currency pair (on 1:30 leverage)
If you play around with the settings you will get much better results, but with increased risk - remember, it can eat your margin like CRAZY!

In case of any questions - please let me know :slight_smile:

SillyScalper.ex4 (15.5 KB)

1 Like
28

Thanks for sharing your backrests/results the name gets me everytime SillyScalper lol

29

Appreciate the feedback :slight_smile: The name, well… it opens new positions until total unrealized reaches the profit target - that’s just plain silly method for scalping.
Only transaction triggers change (this time it’s more complex, but still silly)

2 Likes
30

Hello my friend my greetings.

I am studying forex initially and would like to help me about this MQL4 Silly scalper based on RSI

Could share with us for studies, I have some ideas and would like to deepen the knowledge.

I will be grateful to ask questions and discuss about it when you share I can share my ideas.

I say this last one based on RSI so silly scalper

Thank you very much

31

This idea is very good.

Could you share with us?

32

can you help me with the source code?