Scalping 4H Range EA

Scalping 4H Range EA

A mechanical, rule-based scalping system based on the "4-Hour Range" strategy.

Scalping 4H Range Pro is a fully automated Expert Advisor designed to trade price reversions following false breakouts of the daily opening range. This strategy focuses on a specific price action pattern: waiting for the first 4-hour candle of the day to establish a range, detecting a "fake-out" (breakout failure), and scalping the reversion back into value.

This EA automates the popular strategy featured by the Data Trader YouTube channel, enhancing it with professional risk management, a live dashboard, and customizable entry logic.

[Set files for references]

? Key Features

• Strategy Dashboard: A professional on-chart panel displaying Strategy Status, Current Range Levels, Daily P/L, and Drawdown in real-time.

• Dual Entry Logic: Choose between Direct Entry (aggressive) or Anchor Candle Entry (conservative confirmation) to fit your trading style.

• Smart Risk Management: Built-in auto-lot calculation based on risk percentage, daily drawdown limits, and maximum daily trades to protect your capital.

• Dynamic Stop Loss: Select between a static Daily High/Low stop loss or a dynamic "Recent Swing Extreme" to tighten risk.

• Visual Trading: Automatically draws the active trading range and entry arrows on the chart for easy visual verification.

? How It Works

1. Define the Range: The EA identifies the High and Low of the first 4-hour candle of the trading day.

2. Wait for the Fake-out: It monitors price action on the 5-minute timeframe. It waits for price to break out of the range and then close back inside (indicating a false breakout).

3. Execute the Trade:

   • If price breaks the High and closes back inside -> SELL.

   • If price breaks the Low and closes back inside -> BUY.

4. Manage the Trade: The trade is managed with a hard Stop Loss (placed at the breakout wick or recent swing) and a Take Profit based on your Reward-to-Risk ratio.

⚙️ Parameters

• StartHour: The server hour when the first 4-hour candle begins (usually 00:00 or aligned to New York open).

• EntryMethod: Switch between ENTRY_DIRECT (faster) or ENTRY_ANCHOR (safer, waits for structure break).

• MaxDailyTrades: Limits the number of trades per day to prevent over-trading.

• RiskPercent: The percentage of account balance to risk per trade.

• SLMethod: Choose SL_DAY_EXTREME (safest) or SL_RECENT_EXTREME (tighter stops).

? Setup Instructions

1. Open a EURUSD, or Gold (XAUUSD) chart.

2. Set the timeframe to M5 (5 Minutes).

3. Attach the EA to the chart.

4. Crucial: Adjust the StartHour input to match the start of the 4-hour candle you wish to trade (typically the 4H candle starting at 00:00 or 01:00 Server Time).

? Original Strategy Source

This automated strategy is based on the manual trading system detailed in this video: [YouTube] Scalping Strategy by Data Trader: https://www.youtube.com/watch?v=O5eC5lY7ZXY

⚠️ Disclaimer

Forex and CFD trading involves significant risk and is not suitable for all investors. This Expert Advisor is a tool to automate a specific trading logic and does not guarantee profits. Past performance is not indicative of future results. Please backtest thoroughly and use proper risk management.