The Free version of TimeScalper has a fixed lot value set to 0.01 and works only on EURUSD.
This EA works with internal logic, no additional indicators needed.
Here is the explanation of the input values:
- BrokerIsECN — If you use an ECN Broker, you must select this option that will modify your order adding the SL only after the order is placed.
- StopLoss — This saves money against spikes or huge loss.
The EA has a trailing stop very close to the entry value and not all the brokers allows so tight TL. In this case you’ll get the error “TrailingStop too close to the Stoplevel”.
In order to let the EA works correctly, you should select a low-spread (better less than 1 point) instrument and a fast Broker STP or ECN with a good low latency connection.
I’ve back-tested this EA’s on EURUSD M5 and USDJPY M5 with two different brokers history and a variable spread between 08 and 12 pips, where I had good results and low drawdown (take a look at the results of the Time ScalperÂ Basic and Time Scalper Pro version).
You can also use the M1 TimeFrame.
It’s not my intention to sponsor any brokers, so I’m not going to share any Live trading results. That’s why I made the free version which can be tested by yourself on a demo/real account with low risk.
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