GCA Scalping Ranges EA breakout forex ea forum

GCA Scalping Ranges EA breakout forex ea forum 3.60

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General Description​

This is an intra-day contrarian scalping system. This system was designed to allow correct trades to run the longest possible, and then flip trades when necessary.
Join the conversation over at our Discord channel - https://discord.gg/ScsdkTnwyA
I will do my best to be around to answer any questions and help set up. You are more than welcome to send me screenshots of your settings.
To determine the levels at which it will take long or short positions, the EA analyzes historical trading levels.
This system lets you run back-tests and determine which entries are most successful in current market conditions. You can also toggle the systems on or off to increase your win rate if necessary.

The EA takes 5 different trades, it takes an opening directional trade based on either VWAP or MA, this trade is set based on day trading session determined by the user.
These trades were made using contrarian trading. They are placed at intra-day levels in the hope of reversion.
The system is built around index futures, mainly around S&P and the DOW but can be used an any futures contract mainly using AMP Futures to trade. It is built on a mathematical equation that calculates statistically so you can tweak it to suit any instrument, such as forex, stock futures or futures. Binary options might also be possible. This functionality is currently not available and was not designed around the products. However, it may not work as expected on these products. Please be aware that this functionality could change in the future.
It has been extensively tested on /ES, /YM in the five- and fifteen-minute timeframes. However, 15 minutes seems to be ideal.

Settings​

Main EA Settings
  • Magic Number
  • Opening Trade Indicator: selection between moving average and volume weighted moving average
  • VWAP Buffer: Change the VWAP Level that the system uses to account for opening trades
  • Trade On New Session: when loading the EA on a chart do you want the system to immediately enter a trade or wait for a new session
  • This is the trading session open/close. It tells the system when it should start trading and close trades, as well as when the trading range will be created. CST/Chicago is the time for trading index futures. It is between 5:00pm and 4:55pm.
  • Initial Trade bar Shift: this shifts the initial trade over to the next bar, set for 2 bars so this would enter the initial trade on the second bar after the session time started
  • How many lots, shares, or contracts are in a lot?
  • Candle Close For Initial Stop Loss: this setting determines if the trades are exited upon touching the stop loss or if it exits upon candle close, statistically this is a coin toss for me. I'm still trying to figure out what is best. I currently default the stop loss to false so that trades exit upon touching.
  • Market Open Entry: take a trade on market open
  • +LVL 1 Short Entry: take a trade on the +LVL 1 level
  • +LVL2 Short Entry: trade on the +LVL2 level
  • -LVL1 Long Entry: trade the -LVL1 level
  • -LVL2 Long Entry: trade at the -LVL2 level
MA Indicator Settings
  • MA Lookback Length - How far back would you like the MA opening trade indicator look?
  • MA Shift: Reversing the MA Lookback
  • MA Type: Changes the type of MA that is used to send initial trade signals
  • MA Price Calculation: At what point do you wish the system to create your MA?
VWAP Indicator Settings
  • VWAP Type: UNUSED, don't change
  • VWAP Price Type: what do you want the VWAP to base its calculation on
  • Enable (Daily, Weekly, Monthly, LVL 1, LVL 2, LVL 3, LVL 4, LVL 5): these are all to turn on or off the setting when using that buffer setting
  • LVL (1, 2, 3, 4, 5) Lookback: user defined bar lookback for VWAP calculation
Scalping Range Indicator Settings
  • Max EA Lookback: this is how far back the EA will calculate the levels
  • Trade Session Lookback: this setting determines the daily session range lookback, larger numbers increase the number of sessions that it pulls to determine the levels
  • The SessionBox: This is more useful for debugging but it's a great visual aid to check your session settings and ensure they are correct.
  • Session Box Color: changes the color of the box
Author
fxtrading2
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