MAD Scalper Expert Advisor (MT4)
MAD – Moving Average Distance
The MAD Scalper Expert Advisor uses ATR and the distance to a moving average to determine if price has the potential for reversion (mean reversion). Trades are closed when price returns to mean (moving average) + buffer. We use ATR as our MA_Buffer.
MAD includes an averaging feature. The range is determined by ATR and the RangeMultiplier. The higher the RangeMultiplier the further apart the averaging trades will be.
Works on all time frames and pairs.
It works best on the least volatile pairs (EURUSD, AUDCHF, AUDNZD, EURCHF, EURGBP, NZDCHF, NZDJPY). I prefer lower time frames with a smaller MA period (15M time frame, 50 MA). This allows the MA to catch up quicker in major trends and avoid catastrophe before MaxPairLoss kicks in.
Current Version: 2.0
Updates will be emailed to the email address you used to purchase. Any questions or request for an alteration to the code, please contact us.
*Warning this program can be risky based on your settings. Please strategy test before going live to understand the operations.
MagicNumber: Magic Number used for orders
ATR_Multiplier: Multiplier of ATR for the calculation.
MA_Period: Moving Average Period to use (EMA).
MIN_RSI: Will not enter buy unless RSI is below the MIN_RSI
MAX_RSI: Will not enter sell unless RSI is above the MAX_RSI
UseMABuffer: Don’t use MA Buffer to close trades (Buffer = ATR)
UseAveraging: Turns on the averaging feature
UseLotSizeAdd: Increment lot size option
RangeMultiplier: Used to calculate the distance between averaging trades.
MinRange: If the calculated Range is below MinRange then Range will be set to MinRange
MaxOpen: Max orders that will open.
ClosePercent: Percentage of account balance to close averaging trades in profit.
Lot_Size: Starting Lot Size
MaxPairLoss: Percentage of account balance to close all pair trades.
MaxSpread: Max Spread