ScalpHunter is a dual-mode scalping Expert Advisor working both on an averagely volatile market and during important news releases. Initial parameters allow the EA to automatically adjust to the market conditions.

The EA works on M5. It has been initially developed for EURUSD. However, it also shows good results on GBPUSD and AUDUSD. It does not work with other symbols.

The EA does not trade on history data due to its algorithm limitations. The demo version is available for the EA evaluation.

Martingale can be used if necessary. All actions (opening an order, TimeOut exit, inversion of the order open algorithm) are accompanied by graphical markers. It is also possible to switch the EA to the test mode. Depending on the current market situation, the EA sets one of the five possible order types with various stop losses and take profits displayed in different colors on the chart. Stop levels are corrected depending on the time elapsed since opening an order.

Parameters

• KMartin – current lot multiplier in case of a negative result (if 1, Martingale is disabled).
• MaxLot – maximum lot value when using Martingale.
• DefaultLot – lot initial value.
• AutoTrade – change EA operation mode (true – trade all the time, false – trade only within the specified time intervals).
• Invert – amount of possible negative results before changing the order open algorithm (calculated for each of the five order types separately). If the parameter is negative, the EA enters the test mode (taking Invert value in absolute magnitude).
• DefaultPinkInvert – initial open order algorithm inversion (the parameter is changed automatically according to the Invert parameter).

Each of the five order types is treated the same way.

• DefaultPinkStop – initial stop of the order open algorithm (if an order pseudo-opening is completed successfully, the parameter is changed automatically).

Each of the five order types is treated the same way.

• StartHour1 – time interval start, in hours.
• StartMinute1 – time interval start, in minutes.
• StopHour1 – time interval end, in hours.
• StopMinute1 – time interval end, in minutes.

Each of the four order types is treated the same way (0 – time interval is not used).

• Magicsell, Magicbuy – magic number of an appropriate order.

The time interval is a time of important financial news releases (example: if the news is to be released in 15:30, it is recommended to set the interval of 15:25-15:50).