Description:
JScalp10February2021 is a scalping strategy. It opens a long position
when RSI(14) closes below 25 and a short position when RSI(14) closes
above 75. The strategy aims to open one position, on average, per
trading day (Monday to Friday). It may skip one trading day per month.
It trades only when the spread is lower than or equal to 2 pips. The
strategy uses EUR/USD currency pair on 1 Min timeframe. SL is set at
55 pips and TP at 5 pips but the latter is adjusted to 14 pips on a
drawdown of $25K or more. Trade amount is calculated as follows:
amount = Equity / 10000 / LastBidCandle.CandleOpen * 50 / stopLoss -
0.1. The strategy validates margin before the weekend leverage comes
into force and closes a position if necessary.
Input parameters:
Name Value Description
defaultInstrument EUR/USD Instrument
defaultPeriod 1 Min Time period
slippage 2 Slippage (pips)
stopLoss 55 Stop loss (pips)
takeProfit 5 Take profit (pips)
startDay 2 Week day to start trading
endDay 6 Week day to end trading
skipDay 0 Month day to skip trading
tradingDays 20 Trading days
startHour 10 Hour to start trading (GMT)
endHour 16 Hour to end trading (GMT)
maxSpread 2 Maximum spread (pips)
rsiValueLower 25 LONG position condition
rsiValueUpper 75 SHORT position condition
adjustProfitLoss -25000 P/L required to adjust take profit
adjustTakeProfit 14 Adjusted take profit (pips)
lastEquity 100000 Equity level before the last trade