Safe Trend Scalp Expert Advisor For MT4
WE IMPROVED THIS EXPERT ADVISOR FOR YOU!!!
PLEASE NOTE: This expert advisor was publicly available for free usage on other websites and is not programmed by us. We explain the functionality and possible improvements of the EA. Furthermore, we are convinced that fully automatic Expert Advisors will fail in the long run. On the other hand, our semi-automatic approach with detecting the best setups and then activating our Expert Advisors (e.g. V-Power EA, EdgeZone EA) produced many successful traders and some of them even got prop traders at prop trading firms. Therefore, we added a similar semi-automatic trading feature (to allow only buy or only sell trades) to the free Expert Advisors. You can download the modified version here and enjoy!
Table Of Contents:
- Safe Trend Scalp Expert Advisor For MT4
- Trading using the Safe Trend Scalp Expert Advisor For MT4
- Best method to trade Safe Trend Scalp Expert Advisor For MT4
- Safe Trend Scalp Expert Advisor For MT4 - Indicator settings
- Limitations and possible improvements:
- Safe Trend Scalp Expert Advisor For MT4 - Conclusion:
If you like to scalp by combining the ZIgZag indicator's power to identify the top and bottom and apply moving averages and trend lines to determine the trend direction. In that case, Safe Trend Scalp Expert Advisor for Mt4 exactly does that.
Trading using the Safe Trend Scalp Expert Advisor For MT4
Picture A : Safe Trend Scalp Expert Advisor in action
The Safe Trend Scalp Expert Advisor For MT4 collects high and low values from the ZigZag indicator and draws trendlines automatically by using them. The data is collected for the current time frame and the next available higher timeframe.
If the price touches the trendline, then a signal is created, and an arrow is displayed on the charts. If the price moves higher and touches the upper trendline, a sell signal is created. If the price touches the lower trend line, a Buy signal is produced.
The signal is further validated for the trend direction by using a simple moving average of 50 and 100. Suppose the value of simple moving average 50 is higher than simple moving average 100. In that case, the expert advisor considers the market as an uptrend and places orders only for the buy signals. In the opposite scenario of the moving average values, the expert advisor places only the sell trades.
The Safe Trend Scalp Expert Advisor For MT4 attaches the stop loss and takes profit values to the trade as per the settings' values input. But this value of take profit can be overridden by using the other expert advisor setting in Total Profit to close All Martingale Orders.
The expert advisor is effortless to set up with very few parameters and can be used by new and experienced traders. The Safe Trend Scalp Expert Advisor For MT4 has all the necessary indicators incorporated within the code; however, it is recommended to have a ZigZag indicator in your MetaTrader terminal. Some brokers do not provide it with the standard MetaTrader indicators.
Traders can choose different chart timeframes from the settings. Suppose you select a different chart timeframe using the menu bar. In that case, the Expert Advisor will reverse it back and display the same chart timeframe as input in the settings.
Best method to trade Safe Trend Scalp Expert Advisor For MT4
The expert advisor can trade all pairs and frames and trade using all chart time frames. But best results can be achieved if the Safe Trend Scalp Expert Advisor For MT4 is used for trading low volatile currency pair. The expert advisor works best during low volatile trading periods like night time or the Asian session. For best results, trading ranging markets is recommended compared to the trending markets. The expert advisor can place counter-trend trades every time the price hits the upper trend line and ranges to the lower trend line. The expert will continue to place new trades and book the profits repeatedly.
Safe Trend Scalp Expert Advisor For MT4 - Indicator settings
Picture B: Indicator settings
The following are the available settings in the indicator.
Magic Number: Magic number to identify the trades
Static Order lot for MoneyManagment OFF: Lot size to trade
Order Stop loss(Point): Stop loss in pips.
Order Take Profit(Point): Take Profit in pips
Maximum Spread Allowed: Maximum broker spreads allowed to trade the currency pair.
Total Profit to close All Martingale Orders: Closes all positions if Profit reached this level in pips, overrides the take profit pips.
Working time frame: Chart time frame to trade. The expert advisor will change the chart time frame to this mentioned time frame even if you change to other timeframes.
Draw Buy sell signal: Displays the buy and sell signal as arrows in the chart.
Limitations and possible improvements:
The Safe Trend Scalp Expert Advisor For MT4 trades Sell positions from the top and Buy positions from the low once the price touches the trend line. The expert advisor trades against the trend. As the price continues to go higher in an uptrend, the expert advisor keeps on placing sell trades. The trades will be profitable if the price retraces back but will lose continuously with a long losing streak.
The expert advisor is not suitable for high volatile trading periods like new releases. It would be better to incorporate the news releases and economic calendar and automatically disable the trading during those high volatile periods.
Trading volatility differs at different times during the day. The Asian session volatility may be more suitable for trading with this Safe Trend Scalp Expert Advisor For MT4 than the US sessions. There is no time filter or hour filter or day filter. Having a time filter will enable the expert advisor to trade automatically during the day, rather than manually controlling the expert advisor.
The trendline can act as another filter to provide directional bias to the expert advisor. If the trendline is in an upward trend, it would be better only to trade Buy signals. The Safe Trend Scalp Expert Advisor For MT4 could choose to place only the sell trades if the trendline is a downtrend line. In this way, the expert advisor would have the ability to follow the trend. Currently, the expert advisor uses the position of simple moving averages to identify the trend direction.
It would be better to have an option to enable or disable the option to trade counter-trend or to follow the trend in the Expert advisor settings and can be used at the trader's discretion. This would give the trader more control over the expert advisor.
The Expert advisor mentions a martingale order in the settings. Still, the absence of the ability to input martingale steps and lot multipliers make it void. The expert advisor only trades fixed lot sizes as per the Safe Trend Scalp Expert Advisor For MT4 parameters.
Safe Trend Scalp Expert Advisor For MT4 - Conclusion:
The Safe Trend Scalp Expert Advisor for MT4 uses a combination of the best indicators like Zigzag and moving averages and effectively scalps the prices during low volatile trading sessions and in a ranging market. This expert advisor may not be suitable for a highly volatile trading session or currency pairs.