Classic Bands Scalp EA
Classic Bands Scalp EA — MT4 expert advisor, supplied with source code and a compiled file. Source metadata: Classic Bands Scalp EA Declared inputs include: MagicNumber, SignalTimeframe, LotMode, FixedLotSize, RiskPercentValue, StopLossMode, StopLossValue, TakeProfitMode, TakeProfitValue, MaxSpreadPips, SlippagePips, StopBufferPoints, AllowBuy, AllowSell, CloseOnOpposite, MaxOpenPositions. Description extracted from the supplied source metadata. Compilation compatibility, runtime behavior and trading results have not been independently verified.
Expert advisor · MT4 · v1.00 · Free
About Classic Bands Scalp EA
Classic Bands Scalp EA is an expert advisor (trading robot) for MetaTrader 4 based on Bollinger Bands and ATR. It trades only in the hours you set (time filter), can size trades from your balance and risk percent and is built for short scalping trades. It has 35 settings, such as Magic number, Signal timeframe and Lot mode. MQL source code included.
Files in the download: Classic_Bands_Scalp_EA.mq4, Classic_Bands_Scalp_EA.ex4.
Trading robots can lose money. Check every setting and test on a demo account before using real funds.
Settings
| Setting | Default | What it does |
|---|---|---|
| Magic number | 847460 | Magic number that tells this EA's orders apart |
| Signal timeframe | PERIOD_CURRENT | Period or timeframe used by the calculation |
| Lot mode | RiskPercent | |
| Fixed lot size | 0.10 | |
| Risk percent value | 0.75 | Risk per trade (percent of balance) |
| Stop loss mode | Pips | Stop loss distance |
| Stop loss value | 38.0 | Stop loss distance |
| Take profit mode | Pips | Take profit distance |
| Take profit value | 53.2 | Take profit distance |
| Max spread pips | 3.0 | Maximum spread allowed to trade |
| Slippage pips | 2 | Maximum slippage allowed when opening a trade |
| Stop buffer points | 5 | |
| Allow buy | true | |
| Allow sell | true | |
| Close on opposite | true | |
| Max open positions | 1 | |
| Min entry spacing pips | 0.0 | |
| Trading session | All | |
| Custom start hour | 0 | Hour when trading starts (server time) |
| Custom end hour | 23 | Hour when trading stops (server time) |
| Session hour offset | 0 | |
| Trade monday | true | |
| Trade tuesday | true | |
| Trade wednesday | true | |
| Trade thursday | true | |
| Trade friday | true | |
| Trade saturday | false | |
| Trade sunday | false | |
| Fast period | 13 | Period or timeframe used by the calculation |
| Slow period | 50 | Period or timeframe used by the calculation |
| Signal period | 9 | Period or timeframe used by the calculation |
| Rsi period | 14 | Period or timeframe used by the calculation |
| Adx period | 14 | Period or timeframe used by the calculation |
| Atr period | 14 | Period or timeframe used by the calculation |
| Lookback period | 32 | Period or timeframe used by the calculation |
How to install
- Download the ZIP from your PolyMaria library and unzip it.
- In MetaTrader 4 open File → Open Data Folder, then go to MQL4 → Experts.
- Copy the .mq4 file(s) there. Put any .mqh files in MQL4 → Include.
- Open the .mq4 file in MetaEditor and press Compile (F7) if MetaTrader does not show it.
- Drag the expert advisor from the Navigator onto a chart, check the settings, allow Algo/Auto Trading and press OK.
- Test it first on a demo account or in the Strategy Tester.
Tags: Scalping · Time Filter · Risk & Lot Size · Bollinger Bands · ATR · MT4 Expert Advisor · MQL4 Source Code