Picidae Scalper EA V1.0 for MT4

The Picidae Scalper EA V1.0 is a sophisticated Expert Advisor (EA) designed for the MetaTrader 4 (MT4) platform. It employs a strategic approach to identify and execute trades based on customizable support and resistance levels, combined with the Stochastic indicator.

Key Features:

• Customizable Support and Resistance Levels:
  • The EA determines support and resistance by analyzing the highest and lowest price values over a user-defined number of candles.
  • These levels are visually represented on the chart as blue (support) and red (resistance) lines.
• Stochastic Indicator Integration:
  • The EA utilizes the Stochastic indicator to adjust support and resistance levels dynamically.
  • Users can customize the Stochastic period and the levels that influence changes in trade levels.
• Trade Execution:
  • New orders are initiated when the last candle closes above or below the drawn support or resistance levels.
  • The EA offers a ‘Reverse’ mode, allowing trades to be opened counter to the established trend, facilitating swing trading from the defined support and resistance levels.
• Risk Management:
  • Stop Loss and Take Profit values are managed virtually and are activated upon the opening of a new candle.
  • A Trailing Stop feature, which is not virtual, also operates at the opening of a new candle.

Operational Parameters:

• Minimum Deposit: The EA is optimized for accounts with a minimum deposit of $1,000.
• Time Frame: Designed to operate on the M15 (15-minute) timeframe.
• Currency Pair: Optimized for trading the EURUSD pair.

Optimization and Performance:

• The EA is designed to function effectively using the ‘Open Price’ mode during backtesting, providing results consistent with the ‘Every Tick’ mode but with faster processing.
• The OnTester function within the Optimization/Tester module displays the Profit/Drawdown ratio, enabling efficient sorting of optimized results directly from the optimization module.

Additional Resources:

• Download: The Picidae Scalper EA V1.0 is available for download at www.forexfactory.cc.
• Community Support: Join our Telegram group for discussions, updates, and support: https://t.me/yoforexrobot.

Note: Always conduct thorough testing and optimization to ensure the EA aligns with your trading strategy and risk tolerance.

Disclaimer: Trading involves risks, and past performance is not indicative of future results. Always conduct thorough research and seek professional advice before trading.📈🍀

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Contact and Join our Telegram : https://t.me/yoforexrobot

🔔😎Happy Trading😎🔔