**Found this on another forum**

Daily trading rule are as follows:

1. Create daily chart on any pair

2. Enter Buy/Sell order upon Sunday or Monday open at 2400 GMT. Order should be consistent with previous days trend (i.e; Previous day up, Place "Buy" market order, Previous day down, enter "Sell" market order at open)

2. Place opposite side trade 40 PIPS aways from initial market order (i.e.; if initial order was a Buy Place immediate Sell side order 40 PIP away from initial market entry)

3. If same trend for three consecutive days, place next days open order opposite of previous three days trend. i.e; If Monday, Tuesday and Wednesday were up days, Thursday would be a Sell order.

4. Use 40 PIP stops on all orders.

5. Close between 2300 and 2400.

6. Repeat trade rules at 2400 GMT.

No straddling the price entry. Enter market immediately with 40 PIP reversal companion order...

EA is coded by SKYLINE and is not my own.

User settings usage :

GMT_Shift = Your broker shift related to GMT time zone (if it's GMT+3 then put 3 , if GMT-1 then put -1)
TakeProfit = Take profit in pips when EA will close current order
StopLoss = Stop loss in pips when EA will close current order
HourToCloseOrders = Hour when EA will close ALL positions
SundayCandleExists = Flag to let the EA to don't take care about Sunday Candle. If your broker get the Sunday candle put true elsewhere put false
Lots = Number of fixed contracts (used only if UseMoneyManagement = false)
UseMoneyManagement = Flag to let the EA to use money management routine with Risk value per trade
Risk = Risk per trade allowed (used only if UseMoneyManagement = true)
Slippage = Max slippage allowed in pips
MaxLossesTradesPerDay = Max losses trades allowed in a day per single pair (Setting to 2 , if EA will hit 2 consecutive losses in a day then will stop to trade until new day start even if HourToCloseOrders is not reached)

Note :

The EA will also handle automatically the MagicNumber generation so that you can put it with multiple pairs or multiple EA within the same account without any interference

Optimized Settings :

TakeProfit = 200;
StopLoss = 40;
HourToCloseOrders = 17;
MaxLossesTradesPerDay = 2;

(Optimized settings are still in researching and all traders are encouraged to share his result here)

Attached Files

Daily Scalping EA v1.0GATR.mq4 (20.0 KB, 232 views)

Maybe some better settings?

And some more settings. These are from manual testing but I may adjust ea accordingly

Cryton!
I will try to check this EA in this comiing week,what is your setting for BreakEvenAfterPips?
Yass

I'm using these settings, starting to demo EA for the first time tomorrow. I post comments from others testing from the other forum.

GBPJPY:
GBPCHF:
40 pips stop on both with a porfit target of 120 on GBPJPY and 100 on GBPCHF

Quite a low tp for this system but a problem can be whip saws so will try these settings first as someone else is having success.

Cryten, can you tell what is the other forum where you got that EA?

Cryten, you posted EA with SL which depends on ATR. not fixed SL...
Are there optimized settings for posted version of the EA?
Thanks!

the other forum is forex factory.

My ea is not trading yet, maybe its conflicting with other ea on my demo account. will have to look into this when i get home

simple but nice system

i think it still need a lot off research, but quite promising
do you already try to do some backtest
if yes then i hope you post the result soon

at what pairs u use this system, seem at volatil pairs only like gbp/jpy and gbb/chf
how you define the optimum tp and sl for this system for each pairs

about the rule, entry that opposite with the trend an after 3 consecutif same candle. is it wise?based on what back testing or else
as i know for currency pairs especially gbp/jpy usually the trend will last from 2 till more than 5 day

thx

From a short visual backtesting, it looks promising to me.
I will look into it further next week.
I am using Northfinance who work at GMT+2. Since this is a daily plan, I don't think this GMT+2 instead of your GMT will make much difference, right?