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FRANKOSCALP EA MT4 – Full Input Settings Analysis
FrankoScalp EA is an Expert Advisor designed for scalping in quiet market conditions, usually not during significant news. It is used on the MetaTrader 4 (MT4) platform and is configured for conservative trading with the application of tight Stop Loss limits per trade. It does not employ grid or martingale techniques like more aggressive styles of trading, so it would suit conservative traders who desire to keep away from risks.
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Capital and Risk Management
- ForexMado EA
- ForexMado EA includes automatic lot size management by account balance (AutoLotSize).
- It uses several levels of Stop Loss, BreakEven, and Trailing Stop.
- There is also an option to close trading when the daily profit target (DayTargetMoney) is reached.
- FrankoScalp EA
- FrankoScalp EA calculates the lot size as a percentage of the account balance through the Funds_for_0.01_of_Lot parameter.
- It limits the number of trades by applying a resting period between them.
- The EA has GAP protection, spread control, and hidden SL/TP to resist broker stop-hunting.
Trading Time Management
- ForexMado EA
- ForexMado EA is not bound by time restrictions and can operate at all times.
- It will terminate trading either if the daily profit objective has been achieved or when it is time to close any open positions.
- FrankoScalp EA
- FrankoScalp EA only trades within a predetermined GMT time frame.
- It opens a position between 21:00 and 00:00 GMT.
- The EA has a holiday calendar, suspends trading on Fridays, and does not trade on early-week GAPs.
Filters and Support Features
- ForexMado EA
- ForexMado EA uses filtering based on both the Moving Averages (MA) and the MFI (Money Flow Index).
- ForexMado EA has three levels of Trailing Stop.
- The EA does not utilize news filtering as part of its strategy.
- FrankoScalp EA
- FrankoScalp EA utilizes spread filtering with multiple sensitivity levels.
- FrankoScalp EA news filters by impact levels (high, medium, low) based on ForexFactory data.
- The EA has a Virtual Trailing Stop and supports flexible exit conditions for trades.
Key Takeaways
- Scalping Strategy: FrankoScalp EA has been developed for scalping in low-volatility market conditions on the MetaTrader 4 (MT4) platform and is meant for conservative trading without the use of grid or martingale methods.
- Currency Pairs and Timeframes: The EA is compatible with certain currency pairs and timeframes, with the strong suggestion of backtesting on the M1 timeframe for optimal trading performance.
- VPS Recommendation: To have a stable and consistent trading, it is advisable to use a VPS when running FrankoScalp EA.