- August 27, 2021
- Posted by: Forex Wiki Team
- Category: Free Forex EA
Hi Forex Wiki Frineds,
MSmart Scalper EA Description :
Fully automated algorithms (advisors, experts)
allow you to start making money without any special knowledge of forex and a trading terminal. All you need is to open an account, replenish it, install an advisor and receive constant, stable profit!
On this page, we will analyze in detail everything about MSmart4 – the entry point, the principle of order tracking, order fixing , as well as the strengths and weaknesses of this version.
Attention! The description applies only to the current version of MSmart 4.3
Point of entry:
The entrance to MSmart4 is based on the search for price impulses, or the so-called “gaps” inside the bar. It is difficult to display the conditions of the entry point on the chart, so I make a schematic drawing. Let’s imagine a tick chart of a pair, it will look like my schematic drawing, where each price change is shown with a black zigzag line. ЕА, each new tick remembers the price, if at the next tick the price is more by PipsStep_ pips, then we get the entry point towards the last tick , if not, then we remember the new price and continue looking further. By adjusting the PipsStep_ parameter for each pair, you can get an excellent entry point when there is a strong movement such as news or any other triggers that push the market in a certain direction.
Almost all MiEAs have the same accompaniment. Orders are increased in case of a repeated signal towards the first entry. The minimum distance _Step is observed between orders; it can be configured separately for each pair. The trading panel also allows you to configure the enabling / disabling of grids in the direction of profit and in the direction of loss ( detailed description of the functionality of the trading panel )
An important parameter accompanied by UseUPlot orders. He is responsible for enabling the increase in the lot when increasing the position. If it is enabled, then the initial lot will be added to each new order. For example, the first lot is 0.01, the second is 0.02, the third is 0.03…. the ninth is 0.09 and so on. This function perfectly helps to speed up order fixing, but at the same time it is dangerous in case of an unsuccessful entry against the trend.
Profit taking is tied to the volume of open orders. The more orders are open, the greater their amount of lots, the greater the profit. The ProfitPips parameter is responsible for the profit value. Profit calculation formula: Lot amount * ProfitPips.
As soon as the total profit reaches the desired value, EA closes all of its orders.
Also in the settings there is the StopLossProcent parameter, which is responsible for the size of the loss as a percentage of the balance. I highly recommend that you determine for yourself the allowable amount of loss that you can receive and use without fail.
Strengths and weaknesses of MSmart4:
Version 4 is most effective when news is released or when the market is in a fairly active phase, no matter what the state of the market as a whole, trend or flat.
Broker Requirement :
|BROKER NAME||REGISTER||Year Founded||Headquartered||Leverage||Minimum Deposit||Regulating|
|Register||2007||Sydney, Australia||1:1000||$200||ASIC, SCB, FSA|
|Register||2010||Melbourne, Australia||1:500||$200||FCA , ASIC, DFSA|
|Register||2008||Cyprus||1:Unlimited||$10||CySEC, FCA, FSCA, FSA, BVI|
|Register||2011||London, England||1:500||$25||regulated by CySEC|
|Register||2006||Dublin, Ireland||1:400||$100||CBI, CSEC, PFSA, ASIC, BVIFSC, FFAJ, SAFSCA,ADGM, ISA|