Hammond MT4 Scalping Robot is a fully automated EA with no use of martingale. It’s a night scalping strategy. The RSI indicator and an ATR-based filter are used for entries.
MT4 Scalping Forex Robot doesn’t use Martingale, no hedging, no network. Every trade opened by this EA has a TP/SL and Almost always uses a really small stop loss to guard your money.
The product works both on 4 and 5-digit quotes. Specify values in points like for 5 decimal places in the input parameters, and it will automatically recalculate everything for 4 decimal places.
Please test in a demo account first for at least a week. Also, Make yourself familiar and understand how the Hammond MT4 Scalping EA works, then only use it in a real account.
Recommendations for this MT4 Scalping Robot
- Minimum account balance of 100$.
- Work Only on EURUSD. (Work on Any Pair)
- Work Best on M5. (Work on all TimeFrames, Recommend experimenting with different timeframes.)
- To reach stable results, This MT4 Scalping Robot should work on VPS without any interruption with Very low latency. So we Highly Recommend running this free forex EA on a reliable VPS (Reliable and Trusted FOREX VPS – FXVM)
- Low Spread account is also Highly Recommended (Find the Perfect Broker For You Here)
This EA comes with a News filter So you need to turn on “Allow WebRequest for listed URL” and add the following link.
To do this, open Tools > Options > Expert Advisors. Check the option “Allow WebRequests for listed URL:”. Add the following: “http://ec.forexprostools.com”, “http://www.worldtimeserver.com” and press “OK”.
- Period indicator1 – the period of the first indicator;
- Up-level – the upper level of the first indicator, above which the EA will open Sell;
- Down Level – the lower level of the first indicator, below which the EA will open Buy;
- Period indicator2 – the period of the second indicator;
- From – the lower borders of the range of second indicator values, in which the EA is allowed to open positions;
- To – the upper borders of the range of second indicator values, in which the EA is allowed to open positions;
- Initial lot – an initial lot.
- Autolot – enable/disable auto lot calculation.
- Auto lot size – the amount of the deposit, on which Lot is to be used when Auto lot is enabled.
- Max Lot – maximum lot size for the EA operation.
- Take Profit, points – real take profit in points.
- Stop Loss, points – real stop loss.
- Virtual Take Profit – virtual take profit.
- Option Take Profit – select the take profit operation based on the bar Open / the current price.
- Level of Taking Profit – select the take profit calculation based on the breakeven/the last order.
- Virtual Stop Loss – virtual stop loss.
- Options Stop Loss – select the stop loss operation based on the bar Open / the current price.
- Max Orders – the maximum number of open orders.
- Star Hour – the EA operation start hour.
- End Hour – the EA operation end hour.
- Use Wednesday Logics – if true, the EA will not work on Wednesday at night, if false it will work in the normal mode;
- End Time Friday – time to stop trading on Friday;
- Max Spread – maximum spread, at which the EA is allowed to open and close positions;
- Show Statistics – show/hide statistics;
- Show Button Close – enable/disable the button for closing orders.
- Magic EA – the magic number for the Expert Advisor to identify its positions;
- Take Profit, points – physical take profit;
- Stop Loss, points – physical stop-loss;
- FontSize – setting the font size in the panel;
- Close all orders at taking or stop – on/off closing both directions simultaneously;
- Imp1DRAW, Imp2DRAW, Imp3DRAW – display news on the chart (enable/disable).
- Pause before (after) high importance news – the number of minutes to suspend the EA operation before (after) high-impact news.
- Pause before (after) medium importance news – the number of minutes to suspend the EA operation before (after) medium-impact news.
- Pause before (after) low importance news – the number of minutes to suspend the EA operation before (after) low-impact news.
- Pause after low importance news – the number of minutes to suspend the EA operation before low-impact news.