Scalping Envelopes EA – Best Free Forex Trading Robot
Table of Contents
Scalping Envelopes EA is an automated Forex trading system that detects high-probability entries for price action breakouts of the Envelopes indicator. Only works with pending orders, which allows you to analyze and control the EA's actions.
The Forex Robot uses a Stop Loss so the account is always protected from high losses. The potential profits per trade are very high compared to the possible losses, as a smart trailing stop is being used to let the profits run.
Scalping Envelopes EA is optimized for EURUSD M30, 0.00001. You should attach the EA to a chart and allow automated trading to let the Expert Advisor work. The Expert Advisor will run on many low-spread pairs. With proper settings it is also appropriate for any time frames.
Scalping Envelopes EA – Settings
- Magic BUY – the magic number for the EA's long positions;
- Magic SELL – magic number for the EA's short positions;
- Spread Max – maximum spread, the EA will not trade if the current spread is above Spred_Max;
- Lots Parameter – fixed parameters of the lot;
___Loss protection settings___
- BE points 0 Inactive – modify stop loss to breakeven when the profit of the current position reaches a certain number of points, if 0 = disabled;
- TP points 0 Env – take profit in points, if 0, then take profit is set according to the parameters of the Envelopes indicator;
- SL points 0 Env – stop loss in points, if 0, then stop loss is set according to the parameters of the Envelopes indicator;
___Indiсator settings ___
- Period Env – period of the Envelopes indicator;
- Deviati Env – deviation of the Envelopes indicator;
___Time settings trade___
- Expiration Minutes – number of minutes before the expiry of a pending order;
- Trading HoursStart – trading start hour;
- Trading HoursEnd – trading end hour;
- Visible SL TP – if True, activates visible trading with stop losses and take profits; if False, stop loss and take profit are invisible and are activated on the first tick of a new bar.