Heiken Scalper

Heiken Scalper

Overview

Heiken Scalper EA is a sophisticated Expert Advisor for MetaTrader 5, designed exclusively for trading XAUUSD (Gold) and its variants on low timeframes (M1–M15). This EA combines a custom Heiken Ashi indicator with a grid martingale scalping strategy to capitalize on short-term price movements. Optimized for fast-paced trading, it includes robust risk management, a news filter, and an interactive dashboard, making it ideal for traders seeking efficient gold market strategies.

Key Features

1. Custom Heiken Ashi Indicator

• Uses a tailored Heiken Ashi calculation to identify bullish (green) or bearish (red) candles for precise trade entries.
• Integrates ATR (Average True Range) for volatility-adjusted signals, enhancing reliability.

2. Grid Martingale Strategy

• Opens additional positions at configurable grid steps (default: 250 pips) when the market moves against the initial trade.
• Applies a Martingale multiplier (default: 2.0) to increase lot sizes, aiming for quick loss recovery.
• Limits grid size with a maximum order cap (default: 10).

3. Dynamic Drawdown Recovery

• Adjusts basket take-profit dynamically based on the worst floating drawdown, using a configurable DDRecoveryFactor (default: 50%) to boost profitability.

4. Risk Management

• Basket Stop Loss/Take Profit (USD): Closes positions at set profit (default: $10) or loss thresholds.
• Drawdown Protection: Closes positions or pauses trading if drawdown exceeds a percentage (default: 80%).
• Cooldown Period: Pauses trading post-basket closure (default: disabled).
• Spread/Slippage Filters: Avoids trading during high spreads (default: 30 points) or excessive slippage (default: 20 points).

5. News Filter

• Pauses trading during high-impact news events (e.g., NFP, CPI) affecting XAUUSD or related currencies.
• Configurable look-up period, pause/resume times, and news keywords.

6. Interactive Dashboard

• Displays real-time data: EA status, basket profit, open positions, Heiken Ashi signal, spread, drawdown, and cooldown status.
• Includes buttons to Close Basket, Close Buys, or Close Sells for manual control.

7. Symbol-Specific Design

• Optimized for XAUUSD variants; displays a warning if attached to other symbols.

Input Parameters

• Timeframe: M1–M15 (default: M1).
• Lot Size: 0.01 (default).
• Grid Step: 250 pips (default).
• Martingale Multiplier: 2.0 (default).
• Basket Take Profit/Stop Loss: $10/Disabled (default).
• Max Orders: 10 (default).
• ATR Period: 14 (default).
• Drawdown Protection: 80% max, close all/pause (default: off).
• News Filter: Enabled, 2-day lookup, 15-minute pause/resume (default).

Trading Strategy

• Entry: Opens buy/sell positions on bullish/bearish Heiken Ashi signals, adding grid orders as price moves.
• Exit: Closes basket at dynamic take-profit or stop-loss, followed by a cooldown.
• Risk Controls: Spread, slippage, news, and drawdown filters ensure safe trading.

Recommended Setup

• Symbol: XAUUSD or variants.
• Account: ECN, low-spread, $1,000+ balance.
• Broker: Low spreads, fast execution.

Risk Disclaimer

Grid martingale strategies carry high risk. Test on a demo account first and use conservative settings to manage drawdown.

Conclusion

Heiken Scalper EA offers a powerful, user-friendly solution for XAUUSD scalping, blending precise entries, dynamic profit targeting, and robust risk controls. Ideal for traders seeking fast, efficient gold trading.