Smart Scalper PRO v1.4 Review

How to backtest Smart Scalper PRO

If you wish to back-test Smart Scalper PRO, first you should download history from the MetaTrader history center: click Tools -> History Center, or press the "F2" key on the keyboard. In the list, find the currency pair that you wish to back-test and double click to expand it. Click "1 Minute (M1)" and then click "Download". When the download process is finished, double click on "5 Minutes (M5)” and "15 Minutes (M15)" to convert the M1 data (repeat this for the rest of the time frames). Close the "History Center" window. Restart the MT4 terminal in any case. Check the below image!

To open the "Strategy Tester" window click the "Strategy Tester" button on the MetaTrader menu, or press "Ctrl+R" on the keyboard. In the "Strategy Tester" window chose Smart Scalper PRO, chose one of the supported currency pairs, chose the M15 timeframe, and chose the method "Every tick ...", as shown below. Click "Start" to start the back-test.

The back-test by "Every tick" is the most precise, but it is very slow. If you wish to save time you can run the back-test on the M1 timeframe by the "Open price only ..." method and this will be correct too.

Metatrader Strategy Tester Smart Scalper PRO Backtests

Trading Strategy

At the core of this trading principle, is FXAutomater's deeply encoded human psychology, which will never change. Their goal was to keep Smart Scalper PRO as simple as possible in order to prevent the curve-fitting, which is the biggest enemy of an EA trading. FXAutomater have added a lot of new additional features/systems in this PRO version to improve its performance.

Smart Scalper PRO Features

• Strong, pure, and simple trading logic.
• Reasonable TP and SL levels plus a new ATR-based algorithm.
• Low drawdown.
• Solid 18-year backtest performance.
• Multiple currency pairs support.
• Advanced News Filter.
• Advanced Time Management System.
• New, improved, highly effective exit logic.
• Email and Push Notification system.
• Friday Exit System.
• 24/5 trading, without any time restrictions - no GMT shift hassles.
• High spread, slippage, and broker protection.

Smart Scalper PRO Metatrader Parameters

==== Risk Management ====

• FixedLots - fixed trading volume (works if AutoMM1=0)
• AutoMM - values greater than 0 (zero) activate automatic ММ (traded volume as a percentage of free margin).

==== General Settings ====

• Magic - magic number - it is extremely important to keep this different for all robots.
• EA_Comment - text which will be added as a comment to each trade opened by Smart Scalper PRO.
• MaxSpread - maximal allowed spread for position opening.
• Slippage - maximal allowed slippage for position opening.
• TicksTrade - if false, the logic will be executed at the beginning of M1 bar, otherwise it will calculate and trade on a new price tick.
• StealthMode - true/false - conceal stop loss and take profit levels in program logic making them invisible to brokers. If you use this mode, the stop loss and take profit orders are not located in the trading server.
• EmergencyStopDist - second level of protection, when StealthMode is used. At values greater than zero, it activates a second level of true (Emergency) StopLoss on a greater distance than the virtual hidden StopLoss is located. In such case, the value of the new emergency StopLoss will be the sum of the EmergencyStopDist value plus the value of the hidden StopLoss.
• StopLoss - stop loss value in standard 4 digit pips
• TakeProfit - take profit value in standard 4 digit pips.
• BandPeriod - Bollinger Bands period - reasonable value range 5-20, opt. step 1
• MaxBreakEntry - the maximum allowed breakout
• BandBreakEntry - breakout in 4-digit pips of the BB line to initiate an opposite trade (the value could be negative) - reasonable value range 0-5, opt. step 1
• BandBreakExit - breakout in 4-digit pips of the opposite BB line to initiate closing of the existing trade (the value could be negative) - reasonable value range (-5) to 5, opt. step 1
• ATR_TF_FL - timeframe in minutes of the ATR indicator, used to prevent trading in too high volatility
• ATR_Per_FL - period of the ATR indicator
• MaxATR_FL - maximum value of the ATR indicator
• ExitProfitOnReverse - profit in pips on which the position will be close if reversal bar is formed - reasonable value range 5 to 15, opt. step 1
• Reverse_Bar_TF - the timeframe of the reversal bar – M1 or M5
• MA_Fast_Period - fast moving average period - reasonable value range 1-20, opt. step 1
• MA_Slow_Period - slow moving average period - reasonable value range 20-120, opt. step 5
• MA_Trend_TF - timeframe of both MAs
• Trend_Impulse - relative strength of the market impulse - reasonable value range 0-60 opt. step 5

==== Dynamic SL & TP ====

• Use_ATR_Profit - activates the ATR based exit profit algorithm. If it is “true” it will be used instead the ExitProfitOnReverse value
• ATR_Profit_Factor - the ATR value multiplier for calculating the new ExitProfitOnReverse value
• Use_ATR_Stop - activates the ATR based Stop Loss algorithm
• ATR_SL_Factor - the ATR value multiplier for calculating the Stop Loss value
• ATR_TF_SL - the timeframe on which the ATR indicator is calculated – default 1440 (D1)
• ATR_Per_SL - the period of the ATR indicator – default 1

==== Notifications ====

• EMAIL_Notification - true/false - enable/disable email notifications
• PUSH_Notification - true/false – enable/disable push notifications to mobile phones

==== GMT Settings ====

• GMT_Offset - winter GMT offset of your broker
• Calculate_DST - true/false - Set TRUE if the broker shifts the GMT offset with +1 in Summer. Set FALSE if broker use same GMT offset whole year

==== News Filter Settings ====

The News Filter function is disabled by default. It is your personal choice whether, or not to activate this function. The News Filter function can increase the profit factor of the system and reduce the drawdown, but also can reduce the number of the trades and the total profit.

• Avoid_News -
• Include_Medium_News -
• Filter_NFP_FOMC_ONLY -
• Wait_Before_News -
• Wait_After_News -

Configure MT4 terminal to allow WEB Requests to the following url: http://www.fxautomater.com Only this way the news filter will be able to work properly!

You can find it in: MT4 terminal -> Tools -> Options -> Expert Advisors -> Allow WebRequests for listed URL (check the image below):

==== Time Management Settings ====

These settings have been specially developed to help traders avoid certain hour periods during the trading week when the Forex market behaves more unpredictable.

• AllowedHour_ForBacktest - this parameter is only for backtesting! It helps optimizing the Time Management system. Here is how you can use it. During the optimization set start value 0, end value 23 and the step 1. You can optimize only one day per optimization. For example you want to optimize the forbidden hours for Monday, you have to disable other days bay settings TuesdayTrading=false ... to ... FridayTrading=false. At the end of the optimization the tester will show you the best hours for trading on Monday. You can add the bad hours in the parameter MondayForbiddenHours separated by comma, for example: 1,4,6.
• MondayTrading - true/false - enable or disable trading on Monday
• MondayHoursForbidden - forbidden trading hours for Monday (applies only when MondayTrading is enabled). You can set several values between 0 and 23 separated with commas. For example, if you set MondayHoursForbidden=9,10,11 the EA will not trade from 9:00 till 11:59. The hour values for this parameter are related to your broker’s server time (the Market Watch)!
• TuesdayTrading - true/false - enable or disable trading on Tuesday
• TuesdayHoursForbidden - forbidden trading hours for Tuesday (applies only when TuesdayTrading is enabled). You can set several values between 0 and 23 separated with commas. For example, if you set TuesdayHoursForbidden=9,10,11 the EA will not trade from 9:00 till 11:59. The hour values for this parameter are related to your broker’s server time (the Market Watch)!
• WednesdayTrading - true/false - enable or disable trading on Wednesday
• WednesdayHoursForbidden - forbidden trading hours for Wednesday (applies only when WednesdayTrading is enabled). You can set several values between 0 and 23 separated with commas. For example, if you set WednesdayHoursForbidden=9,10,11 the EA will not trade from 9:00 till 11:59. The hour values for this parameter are related to your broker’s server time (the Market Watch)!
• ThursdayTrading - true/false - enable or disable trading on Thursday
• ThursdayHoursForbidden - forbidden trading hours for Thursday (applies only when ThursdayTrading is enabled). You can set several values between 0 and 23 separated with commas. For example, if you set ThursdayHoursForbidden=9,10,11 the EA will not trade from 9:00 till 11:59. The hour values for this parameter are related to your broker’s server time (the Market Watch)!
• FridayTrading - true/false - enable or disable trading on Friday
• FridayHoursForbidden - forbidden trading hours for Friday (applies only when FridayTrading is enabled). You can set several values between 0 and 23 separated with commas. For example, if you set FridayHoursForbidden=9,10,11 the EA will not trade from 9:00 till 11:59. The hour values for this parameter are related to your broker’s server time (the Market Watch)!
• SaturdayTrading and SundayTrading - true/false - enable or disable trading during Saturday and Sunday respectively. Due to big GMT offset, some brokers trade during weekends and for that reason we added these parameters as well

Example: MondayHoursForbidden = "9,10,11,12,13,14,15,16";

==== Friday Exit ====

• FridayExit - true/false - if you wish to close all trades on Friday, you should use FridayExit=true.
• ExitHour - the robot will close all open positions at this hour on Friday.
• LastTradeHour - the robot can trade until the end of this hour on Friday (including this hour).

If you decide to use the "FridayExit" option you should set LastTradeHour and ExitHour several hours before the market closing of your broker on Friday.