AI Scalper v1.1 EA
Logic:
- Scalping Strategy:
- Executes quick, small trades aiming to scalp small profits from market movements.
- Uses Bollinger Bands and RSI for entry and exit signals.
- Auto-Lot Management:
- Adjusts lot sizes based on account balance with customizable minimum and maximum lot sizes.
- Option to use fixed lot sizes.
- Order Management:
- Places buy and sell stop orders based on Bollinger Bands and RSI levels.
- Adjusts stop loss levels dynamically and implements trailing stops for open orders.
- Risk Management:
- Implements maximum spread protection and adjustable stop loss and take profit levels.
- Uses a time filter to restrict trading to specified hours.
Detailed EA Explanation
- Initialization and Deinitialization:
- Initializes key variables such as lot size, stop loss, maximum spread, and Bollinger Bands/RSI settings.
- Sets initial values for various trading parameters, including time filters and dynamic stop loss adjustments.
- OnTick Function:
- Main function where all trading decisions and order management occur.
- Continuously checks market conditions and manages open orders.
- Places buy stop and sell stop orders based on Bollinger Bands and RSI levels.
- Adjusts stop loss levels dynamically for open orders.
- Closes orders if certain profit or loss thresholds are met.
- Order Management Functions:
- Count(int type): Counts the number of open orders of a specified type (buy or sell).
- ordersprofit(int type): Calculates the total profit of open orders of a specified type (buy or sell).
- Closeorders(int type): Closes all open orders of a specified type (buy or sell).
- DeletePending(): Deletes pending orders.
- TimeTrade(): Checks if the current time falls within the configured trading hours.
- Risk Management Functions:
- Implements stop loss and take profit levels for all open orders.
- Uses auto-lot management to adjust lot sizes based on account balance and risk settings.
- Ensures trading occurs only within specified hours using a time filter.
Additional Features
- Display Function:
- Displays key statistics on the chart, such as spread and current price.
- LABEL Function:
- Draws text on the chart to display various statistics and information.
- Time Filter Function:
- Checks if the current time falls within the specified trading hours.
- LotsOptimized Function:
- Calculates the optimal lot size based on account balance and selected risk mode.
- Trailing Stop Function:
- Implements trailing stops to secure profits as the market moves in favor of open orders.
- Confirmation Filters:
- Uses Bollinger Bands and RSI levels to confirm trade entries.
- Only places orders if conditions are met, enhancing trade accuracy and reducing risk.
This EA employs a scalping strategy with automatic lot size adjustments and confirmation filters using Bollinger Bands and RSI. It includes comprehensive risk management features such as stop loss, take profit, trailing stops, and time filters to ensure controlled and strategic trading.
