Black Scorpion EA

EA Black Scorpion Expert Information:

• Breakout Strategy:

  • Utilizes a proven breakout trading strategy, renowned among Forex traders for its efficacy and popularity.
  • Developed and extensively tested over historical data, demonstrating consistent superior performance.

• Trend Breakouts:

  • Engages in three types of trend breakouts:
    • Support and resistance breakout.
    • Downtrend breakout.
    • Uptrend breakout.

• Risk Management:

  • Implements a minimal stop loss (SL) strategy to safeguard the account from equity drawdown with minimal risk-per-trade.
  • Employs an adaptive trailing stop algorithm to protect profits.

• Position Management:

  • Incorporates a system for closing positions during slippages, enhancing trade execution reliability.

• Testing and Optimization:

  • Rigorously backtested and optimized using real ticks with 99.9% quality, and successfully passed stress testing.

• Statistical Insights:

  • Features an algorithm for statistics collection with output on an information panel, providing valuable insights for informed decision-making.

Pairs/Timeframes:

• Recommended pairs/timeframes: EURUSD H1, USDJPY H1, or EURUSD M30, USDJPY M30.

Requirements and Recommendations:

• Prior to live trading, test the EA with minimal risk.
• Opt for brokers offering low spreads, low commission, and high-quality execution.
• Utilize a VPS server with minimal network latency for optimal performance.
• Recommended parameters include maximum spread, stop level, and freeze level to ensure optimal trade execution.
• Leverage of 1:100 or higher is recommended for effective risk management.
• When using multiple advisors on the same account, ensure each advisor has a unique Magic number.

Parameters:

• Information Panel:

  • Option to display an information panel, accelerating testing in the strategy tester.

• Magic:

  • Trades identifier.

• Comment:

  • Comments to the order.

• Slippage:

  • Allowed slippage before an order triggers.

• Spread Settings:

  • Maximum spread allowed before a pending order is triggered.

• Type of Trade:

  • Trading direction.

• Lot Management:

  • Fixed lot or risk-based lot size adjustments.

• Take Profit/Stop Loss:

  • Set take profit and stop loss levels.

• Break Even and Trailing Stop Settings:

  • Option to move stop loss to breakeven and trailing stop settings.

• Adaptive Trailing:

  • Adaptive trailing stop mechanism based on slippages and time.

• Trading by Time:

  • Ability to schedule trading operations based on specific time intervals.

By adhering to these parameters and recommendations, traders can optimize the performance of the EA and enhance their trading experience.