Here is the latest version of TrueScalper (v49L). It is the same as v49h in that you can set the maximum number of longs and shorts, but in this version you can enable a breakeven profit lock. Here is the author's statement:
All,
I've taken the ProfitLock idea and implemented a 1-step break-even
lock to OrderOpenPrice+spread.
http://www.lightpatch.com/forex/True...9L_Ron_MT4.mq4
It 'saves' about 20% of the orders. and produces about 25% more
profit when enabled. (that is, in a back-test anyway)
It would have taken away a LOT of the pain on Friday when GBPUSD went
up then down, hitting stoplosses.
MetaTrader 4 only
GBPUSD only
5Minute chart
0.1 lots
ProfitMade 103
StopLoss 54
Long orders 12
Short orders 13
PLEnabled true
PLBreakEven 52
I did try a multi-level lock, where 1/4 1/2 & 3/4 were locked into
place, but it produced a lot of noise, and no more profit. I believe
this is due to the fact that the break-even point is pretty high already.
And, the break-even point is high to give the pair room to move.
StopLoss of 54 and break-even of 52 gives 106 points of movement
before anything happens.
Ron