MQL5 Free EA – Verification by backtesting 29 “Scalping EA for EURUSD”

MQL5 Free EA

In the “Verification by backtesting" series, we verify the performance of free EAs registered in the MQL5 community from the backtesting results. We hope it will help you choose EA.

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The 29 th is “Scalping EA for EURUSD“

About “Scalping EA for EURUSD"

Quote from MQL5 official page

Features of this EA

  • This is fully Automated Trading Robot / Expert Advisor for MT5.
  • This EA can give good performance on EURUSD & GBPUSD etc.
  • The Buy Stop order place at 1 hours high price & Sell Stop order place at 1 hours low price (within a time period).
  • Profit secured by Adjustable Trailing Stop.
  • Please Enter correct Risk Percent that you can afford from your total margin.
  • This EA can place Order at your own Magic Number.
  • Suitable for both beginners and experienced traders.

Trading of “Scalping EA for EURUSD“

  • The Buy Stop order place at 1 hours high price & Sell Stop order place at 1 hours low price.　In other words, it aims for a high/low breakout.
  • By default, TakeProfit/StopLoss is set to 200 points (20 Pips) respectively and order expiry is set to 5 hours.

Backtesting on Every tick based on real ticks

This EA is specified to be tested with Modeling “Every tick based on real ticks" during backtesting. This function is a mode added in MT5.

Below is the result of backtesting on Every tick based on real ticks.

  • Account: NZX Zero (ECN) (NOZAX)
  • Currency Pair: EURUSD#
  • Timeframe: H1
  • Parameter: Initial value
  • Initial Balance: $10,000
  • Period: 2018.01.01 – 2022.12.31

Backtesting on Every tick

Below are the results of backtesting on Every tick.

  • Account: NZX Zero (ECN) (NOZAX)
  • Currency Pair: EURUSD#
  • Timeframe: H1
  • Parameter: Initial value
  • Initial Balance: $10,000
  • Period: 2018.01.01 – 2022.12.31

“Every tick" and “Every tick based on real ticks"

“Every tick based on real ticks" is arguably more reliable than “Every tick", but honestly, this I didn’t think it would make a difference.

At least, I think the author of this EA understands the difference between the two. We will continue to monitor

(reference）Differences between “Every Tick" and “Every tick based on real ticks"

  • “Every tick based on real ticks" will use the real tick data.
  • “Every Tick" are virtual or simulated ticks generated from the M1 OHLC Data. It ignores the real tick data.

NOZAX

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Posted by GOMA