5 Minute Envelope Scalping - MetaTrader 4 Expert | MT4 EA Download - MetaTrader 4 Resources
If the price is above the upper envelope the signal direction is to open a position downward, and if the highest previous price - upper envelope and bid - upper envelope are currently greater than the distance filter, the EA will open the trade SELL. If the price is below the lower envelope the signal direction is upward, and if the lower envelope - lower price and lower envelope - bid is greater than the distance filter, the EA will open buy.
Please backtest first to find the best settings for your favorite pairings, and then test them in the demo first.
I don't know how to upload images, but this backtest result
Attachment download
📎 5mins_envelopes.mq4 (12.35 KB)
Source: MQL5 #30561
5-Minute Envelope Scalping - MetaTrader 4 Expert | MT4 EA Download - MetaTrader 4 Resource Usage and Screening Suggestions
This content can be used as a data entry for foreign exchange EA, indicators, trading systems or quantitative strategies. When reading, it is recommended to make a judgment based on the platform version, trading type, time period, risk control method and historical discussion background. Do not use it directly based on the title or a single point of view.
If the content involves MT4/MT5, ForexFactory, MQL source code, TradingView indicators or strategy discussions, you can give priority to the parameter logic, backtest environment, market stage, execution cost and failure conditions, and then decide whether to continue downloading, reviewing or secondary development.
Risk warning
For any EA, indicator or automatic trading strategy, it is recommended to first conduct historical backtesting, simulation account verification and small capital testing. Grid, Martin, high frequency, recovery and examination strategies especially require setting the account risk upper limit, single variety risk upper limit and manual deactivation conditions.
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