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XMT-Scalper

What is XMT-Scalper

XMT-Scalper is a robot (a computer program, also known as Expert
!"isor# or E# for s$ort% for t$e tra!ing platform MetaTra!er &'

(t)s originall* base! on an earl* "ersion of t$e commercial robot
Million+ollar,ips# but $as been extensi"el* en$ance! an! impro"e!'
To!a*, all t$e co!e $as been rewritten from scratc$, an! onl* a part of t$e
core of t$e strateg* is t$e same' T$is E is not a commercial pro!uct but
a"ailable for free'

Background


+uring a moment of bore!om, ( !eci!e! to take a closer look at t$is, t$e
original commercial robot, since it was so popular, an! man* also reporte!
t$at it was "er* profitable compare! to most ot$er robots' So !uring spare
times ( first !eci!e! to clean up t$e co!e so t$at ( coul! un!erstan! its
strateg*, an! $opefull* impro"e it' n! so it all starte!-

(t starte! as a one-man pro.ect, but to!a* ( regar! it as an open source
pro.ect, w$ere an*one can participate in' lt$oug$ ( tr* to super"ise it,
especiall* since ( $a"e a strict stan!ar! w$en it comes to $ow program
co!e s$oul! be written, commente! an! !ocumente! (( $a"e a back-
groun! as a teac$er in computer science an! programming%' n! as a
conse/uence, an*one w$o participates s$oul! tr* to follow t$is co!ing
stan!ar!' (t will make it easier for all'

(f *ou)re a programmer an! want to impro"e it, t$en a!! a c$aracter a#,
b# etcetera to t$e "ersion name, an! uploa! it wit$ proper comments to
t$e forum below'

+iscussions an! new "ersions are publis$e! in $ttp011www'worl!wi!e-
in"est'org forum'

Se appen!ix for "ersion $istor*2


Usage

ttac$ t$is robot on E343S+ an! 56 timeframe' (t will run on ot$er
currenc* pairs also, but will tra!e more often on E343S+' (t can be
attac$e! to an* timeframe, since it force all calculations to be !one on a
tic-basis an! t$e in!icators uses M1-timeframe' (f *ou attac$ it on an*
ot$er currenc* pair, t$en be sure t$at t$is currenc* pair $as a low sprea!'



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T$is robot performs "er* well on backtests, it performs not as goo! on
!emo-accounts, an! in or!er to perform on li"e accounts it)s important to
use a broker t$at (1% accepts scalping wit$out limits, (7% offers a nar-
rowe! Sprea!# an! Stop 8e"el#, (9% !oes not sen! re/uotes an! slippage
too often' (n most cases, t$e robot will perform ba!l* on li"e accounts,
because of t$e abo"e problems#' lso, it)s important to $a"e t$e
MetaTra!er& platform running on a computer or ser"er as close as
possible to t$e broker ser"er in or!er to $a"e as fast execution of or!ers
as possible (latenc*%'


Input Settings

:eneral Settings0

T$e settings un!er :eneral settings# s$oul! not affect t$e tra!ing'

ReverseTrade ;* !efault t$is is set to <8SE, w$ic$ means t$at it will
open tra!es towar!s t$e center of t$e c$annel, a so calle! retracement
strateg*' (f set to T43E it will instea! open tra!es out from t$e c$annel, a
so calle! breakout strateg*' ;u* an! Sell-signals are simpl* re"erse!,

Magic T$is is known as t$e Magic5umber in MetaTra!er, a number t$at
must be uni/ue for e"er* robot attac$e! to t$e MetaTra!er platform' T$e
!efault "alue is =, w$ic$ is e/ual to t$e number for manual tra!ing' (f *ou
attac$ ot$er robots to t$e same MT& platform, t$en eac$ robot must $a"e
its uni/ue number' (f t$is is t$e onl* robot attac$e!, t$en lea"e t$is
number to =' T$e !efault settings is -1, w$ic$ will calculate t$e magic
number automaticall* base! on t$e account number an! currenc* pair'
T$is is $an!* if *ou want to appl* t$is E to se"eral c$arts, an!1or uses
ot$er E)s at t$e same time on ot$er c$arts' Since t$is will make sure t$at
none of t$em $as t$e same magic number' Magicnumber is use! b* all
E)s to i!entif* t$eir own or!ers'

!rder"#t T$is is a comment sent wit$ e"er* or!er to t$e broker, an! it
also appears in t$e Terminal win!ow un!er t$e tab Tra!e an! >omments'
T$e !efault text is XMT-Scalper# (wit$ "ersion number%' n empt*
comment line imitates manual tra!ing'

$"%&Mode Most brokers accepts t$at Take,rofit an! Stop8oss are sent
at t$e same time as t$e or!er is sent (E>5-Mo!e ? <8SE%' @owe"er,
some brokers re/uires t$e or!er to be sent wit$out Take,rofit an!
Stop8oss, an! t$en a following or!er t$at mo!ifies t$e first or!er wit$ t$e
Take,rofit an! Stop8oss (E>5-Mo!e ? T43E%' T$e !efault "alue is <8SE'
Anl* c$ange t$is to T43E if *ou)re certain t$at *our broker re/uires a
mo!if*-or!er to be sent wit$ t$e T, an! S8 after t$e actual or!er' (f set to
T43E t$e E !oes not nee! to up!ate t$e first or!er, wit$ less risk of
!ela* in t$e up!ate process'


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(e)ug (f t$ere)s an* problem wit$ t$e robot, t$en c$ange t$is from its
!efault "alue <8SE to T43E an! watc$ t$e Expert tab in t$e Terminal
win!ow for extra information' +o not lea"e t$is to T43E for longer
perio!s, since t$e log-files t$at are automaticall* create! b* MT& t$en will
become $uge'

*er)ose T$e !efault $ere is <8SE' (f set to T43E, t$en it will s$ow
more !etaile! information on t$e screen about w$at t$e robot is !oing'


Tra!e settings0

T$is robot is extremel* sensiti"e, an! t$e settings can an! must be
c$ange! to suit t$e tra!ing en"ironment, w$ic$ inclu!es broker an!
latenc* (t$e connection spee! between t$e computer w$ere *ou run MT&
from an! t$e broker ser"er%' (f t$e robot !oesn)t tra!e, or if it makes too
man* loosing tra!es, t$en a!.ust t$e settings'

Ma+Spread T$is sets t$e max allowe! Sprea! measure! in points' (f t$e
broker sprea! is $ig$er t$an t$is le"el, no tra!e will take place' <or
instance, 76 means a max allowe! sprea! of 7'6 pip' 6ou can a!.ust it to
w$ate"er le"el *ou want it to $a"e' ;ut please un!erstan! t$at t$e $ig$er
sprea! t$at is allowe!, t$e $ig$er t$e risk for losses will be'

Ma+$+ecution B$en t$e a"erage execution time excee!s t$e
MaxExecution, t$e E will not tra!e' @owe"er, if *ou want it to tra!e
an*wa*, t$en .ust set MaxExecution to =, w$ic$ is t$e same as not using
t$is feature' (f *ou want to restrict t$e execution time, t$en c$ange t$is
"alue to as man* secon!s *ou want C 1===' <or instance, 9=== means 9
secon!s, 1==== means 1= secon!s, etc' T$e "alue *ou enter is measure!
in millisecon!s' E"er* D minutes t$e E will sen! a fake Ar!er to t$e
ser"er in or!er to alwa*s $a"e an up!ate! a"erage execution' T$e E
calculates a mo"ing a"erage of execution time base! on t$e last 1=
execution times' T$is feature also works on backtests, w$ere it ran!om-
iEes execution time between = an! t$is "alue (unless *ou set t$is to =%'

(f *ou set t$is "alue to an*t$ing else t$an = !uring backtesting, it will
simulate "ariations in latenc*, similar to $ow it is tra!ing li"e' T$at is, T$e
E will count t$e a"erage ticks per minute an! will skip a number of ticks
proportional to t$e a"erage ticks per minute an! Ma+$+ecution,
assuming t$e worst case scenario t$at all or!ers will take MaxExecution
time to execute' 5ote0 T$is tick skipping is onl* !one on backtesting an!
after a Ar!erSen! or Ar!erMo!if*'

Bit$ t$is feature we can get an i!ea on $ow latenc* can !isrupt t$is
tra!ing strateg*' 6ou can see t$is feature in action if *ou make a backtest
wit$ Ma+$+ecution , - an! compare t$e same ;T wit$ for instance
Ma+$+ecution , .---/


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,lease un!erstan! t$at !ela*e! execution !uring li"e tra!ing can !epen!
on se"eral t$ings' Ane is calle! latenc*#, w$ic$ is t$e !ela* in t$e
internet connection between *our computer an! t$e broker ser"er, often
cause! b* too muc$ traffic, an!1or low broa!ban! connection, an!1or long
!istances' n!1or it can !epen! on t$e broker, w$ere t$e ser"er is eit$er
too o"erloa!e! b* tra!ing re/uests, or b* market con!itions (a common
problem w$en tra!ing li"e wit$ real mone*% w$ere or!ers cannot be fille!'

Ma+$+ecutionMinutes B$en using MaxExecution (see abo"e%, a
;36STA, or!er is sent on a regular basis, w$ic$ t$en is mo!ifie! an!
!elete! in or!er to measure t$e execution spee! at t$e broker' ;* !efault,
t$is is !one "er* D
t$
minute' (f *ou want to c$ange t$is inter"al, t$en
c$ange t$is "alue to as man* minutes as *ou want t$is inter"al to be'
5ote0 (t s$oul! not be lower t$an D minutes' (f MaxExecution (see abo"e%
is set to =, t$en no suc$ ;36STA, or!ers are sent'

Stop1oss T$e Stop8oss is t$e number of points w$ere t$e or!er s$oul!
be close! if it goes in t$e wrong !irection' T$e "alue s$oul! not be lower
t$an t$e Take,rofit "alue' <or instance, set to 6='= means 6 pip' n! as
like Take,rofit, it)s automaticall* a!.uste! to broker STA,8EFE8 an!' So if
*ou set it too low, an! t$e broker STA,8EFE8 or <4EEEGE8EFE8 is $ig$er,
it will be recalculate! accor!ingl*' T$is "alue s$oul! normall*# not be
c$ange!' Anl* c$ange it if *ou want to make backtests an! tr* !ifferent
settings to impro"e it on ot$er currenc* pairs t$an E343S+' +efault is =,
w$ic$ means t$at it will tr* to no allow an* losses' <or practical reasons
t$is is impossible t$oug$'

Take2ro3it T$is sets t$e siEe of t$e Take,rofit in points' 5ote0 T$e
Take,rofit s$oul! not be too large, nor too small' lso, t$e Take,rofit is
automaticall* a!.uste! to broker STA,8EFE8 an! broker <4EEEGE8EFE8% if
it)s set to a too low "alue' <or instance, 1= $ere means 1= points, w$ic$ is
e/ual to 1 pip' T$is "alue s$oul! normall*# not be c$ange!' Anl* c$ange
it if *ou want to make backtests an! tr* !ifferent settings to impro"e it on
ot$er currenc* pairs t$an E343S+' +efault is 1==, w$ic$ means t$at it
initiall* sets t$e goal to make a 1= pip in profit, an! t$en trail t$e profit
furt$er'

4dd2rice5ap !!itional price gap in points a!!e! to S8 an! T, in or!er
to a"oi! Error 19=' +efault is =' (f *ou want to increase t$e gap between
t$e current price an! t$e Stop8oss an! Take,rofit for e"er* or!er, *ou can
!o so $ere' T$is gap is normall* onl* between t$e price an! t$e broker
stople"el, w$ic$ is "er* narrow an! can cause man* errors of t*pe 19=' ;*
increasing t$is gap t$e S8 an! T, is wi!ene!, an! t$e number of error 19=
is !ecrease!' T$e "alues are in points (1 1 1=% pip' 5ote0 +o not increase
t$is too muc$'

TrailingStart T$is "alue will set t$e t$res$ol! for w$en t$e TrailingStop
will start in points (1= points e/uals 1 pip%' <or instance, if *ou set it to D,
it will start trailing as soon as t$e price mo"es ='D pip from t$e or!er price
in t$e rig$t !irection' (t !oes not affect $ow muc$ t$e TrailingStop will

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increase, .ust w$en it will start' T$e increase is calculate! !*namicall*'
+efault is 79, w$ic$ means t$at it will tr* to trail profitable or!ers once it
$as reac$e! 7'9 pip in profit'

"o##ission Most brokers !o no c$arge commission, but some !o, an!
t$e* !o it on some of t$eir accounts, t*picall* so calle! E>5 accounts'
>ommission is a!!e! to or!ers w$en t$e* are close!, but t$is E also
consi!er it !uring tra!e, because t$e final cost of t$e or!er ot$erwise will
be muc$ $ig$er t$an expecte!' <or instance, if a broker c$arges H in
commission, it means t$at t$e* c$arge H 3S+ for e"er* 1'= lot' >on"erte!
to lotsiEe, t$is mean t$at t$e actual lotsiEe can be consi!ere! to be H
points (='H pip% larger t$an w$at is seen' +efault is =, an! onl* state t$e
"alue in 3S-!ollar for 1'= pip $ere (< t$e broker c$arges commission on
t$e or!ers, somet$ing t$at t$e* broker openl* !eclares on t$eir websites
for t$eir !ifferent account'

Slippage T$is sets t$e maximum allowe! !ifference in price, known as
slippage, between t$e price *ou sen! at t$e time *ou execute an or!er,
an! t$e price *ou get' (t)s measure! in points (1 1 1= pips%' +efault is 9
points'

Mini#u#UseStop1evel Ar!ers cannot be place! closer to t$e current
price t$an w$at t$e broker Stop8e"el set as a limit' T$e "alue $ere is t$e
number of points (1 1 1= pips% from t$e current price t$at Stop Ar!ers will
be place!' T$is "alue is t$en compare! wit$ t$e broker Sto8e"el, an! t$e
$ig$est of eit$er t$is "alue or t$e broker stople"el will t$en be use!'


Folatilit* Settings0

T$is is actuall* a part of t$e tra!ing settings, but co"ers more specific
settings for $ow t$e scalping s$oul! be !one'

Use(6na#ic*olatilit61i#it T$e le"el for t$e Folatilit*8imit (see below%
can eit$er be a static "alue or a !*namic "alue' (f <8SE, t$en t$e "alue
of t$e Folatilit*8imit# (see below% will be use!' (f set to T43E t$en t$e
"alue of t$e Folatilit*8imit# will be calculate! as follows0

Folatilit*Multiplier 1 1= C 4eal"erageSprea!, w$ere Folatilit*Multiplier# is
set as below, an! 4eal"erageSprea!# is t$e a"erage "alue of t$e sprea!
!uring t$e last 9= tics I an* broker commission' So for instance, if t$e
sprea! is 16 (1'6 pip% an! commission is =, t$en Folatilit*8imit# will be
7== points (or 7= pips%, since 17D 1 1= C 16 ? 7=='

*olatilit6Multiplier multiplication factor to be use! if t$e abo"e
3se+*namicFolatilit*8imit# is set to T43E' +efault 17D' ;efore *ou
c$ange t$is, please make sure t$at *ou make some calculations accor!ing
to t$e formula abo"e base! on !ifferent sprea!s so t$at *ou full*
un!erstan! $ow t$is "alue c$anges'


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*olatilit61i#it T$is sets t$e sensiti"it* for w$en tra!ing will start, base!
on t$e siEe of t$e "olatilit* ($ow muc$ t$e prices $as mo"e!%' (t)s t$e
!istance in points between t$e $ig$est price (known as i@ig$% an! lowest
price (known as i8ow% !uring t$e current bar' (f t$e price mo"es more
t$an t$is, an or!er will be opene! in t$e opposite !irection' (f *ou set t$is
le"el to too $ig$, t$ere will be fewer tra!es, but it coul! also increase t$e
winning rate' (f it)s too low, it will start to tra!e more often, but t$e
winning rate coul! !ecrease' 5ote0 T$is is one of t$e most important
parameters to c$ange if *ou want to a!.ust t$e robot for an* ot$er
currenc* pair t$an E343S+ an! !on)t want to use 3se+*namicFolatilit*-
8imit#' (t can be as low as D= (or e"en lower% or as $ig$ as D== (or e"en
$ig$er%' "alue aroun! 1J= (1J pips% seem to be a goo! a"erage'

Use*olatilit62ercentage 5ormall* t$e Folatiliit* (t$e !ifference
between i@ig$ an! i8ow !uring t$e current bar% must be more t$an t$e
Folatilit*8imit in or!er to trigger a tra!e, !isregar!ing of $ow muc$ t$e
Folatilit*8imit is' (f t$is is set to be T43E, t$en t$is !ifference must
excee! wit$ a minimum percentage known as Folatilit*,ercentage8imit#
(see below%' <or instance, if Folatilit*,ercentage8imit# is set to 6=, t$en
t$e Folatilit* must excee! t$e Folatilit*8imit# wit$ at least 6=K' So if
Folatilit*8imit is 1J= t$en t$e Folatilit* (t$e !ifference between i@ig$ an!
i8ow% must be 1J= C 1'6 ? 7JJ points'

*olatilit62ercentage1i#it factor use! if t$e abo"e 3seFolatilit*-
,ercetage# is set to T43E, an! measure! as percentage' <or instance, 6=
means 6=K' At$erwise not use!' Set t$is to a w$ole "alue representing
$ow man* percentage more *ou want t$is to be (see explanation abo"e
un!er 3seFolatilit*,ercentage#%' T$e $ig$er t$e "alue, t$e fewer tra!es
but most likel* also stronger signals'


3se (n!icator Set0 (n!icators0
1 ? Mo"ing "erage, 7 ? ;ollinger;an!, 9 ? En"elopes0

T$is E measures t$e "olatilit*, w$ic$ is $ow strong t$e price fluctuations
are from its normal range, an! look for breakouts from a c$annel# ma!e
of an in!icator' (t)s possible to use !ifferent in!icators for t$is, an! t$is is
selecte! $ere'

(f *ou c$oose 1# for Mo"ing "erage, it will calculate two lines, one upper
an! one lower, w$ic$ toget$er will act as c$annel#'

(f *ou c$oose 7# for ;ollinger;an!#, t$en t$is in!icator will be use! to
calculate t$is c$annel#' <or t$is in!icator, t$ere)s also an option to a!.ust
;;+e"iation# (see below%'

(f *ou c$oose 9# for En"elopes#, t$en t$is in!icator will be use! instea!'
<or t$is in!icator t$ere)s a setting calle! En"elopes+e"iation# (see below%
t$at also can be a!.uste!'


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BB(eviation <or t$e in!icator ;ollinger;an!s# t$is setting c$anges $ow
muc$ t$e calculate! "alue is allowe! to !e"iate from t$e main line' T$is is
a !ecimal "alue wit$ 1'D as a reference to start wit$' T$e $ig$er t$e "alue
is, t$e wi!er t$e c$annel# becomes' To un!erstan! t$is, *ou can attac$
t$e >ustom (n!icator# calle! ;an!s# to a c$art an! c$ange t$e setting
;an!s+e"iations# to "isuall* see $ow wi!e or narrow t$e c$annel#
becomes' 3se ,erio! ? 9'T$is is also an important parameter t$at s$oul!
be a!.uste! for ot$er currenc* pairs t$an E343S+'

$nvelopes(eviation <or t$e in!icator En"elopes# t$is setting c$anges
$ow muc$ t$e calculate! "alue is allowe! to !e"iate from t$e main line'
8ike t$e abo"e ;;+e"iation# it)s easiest to un!erstan! t$is * attac$ing
t$e in!icator En"elopes# to a c$art an! a!.ust t$e !e"iation#' 3se ,erio!
? 9' +efault "alue is ='=H'

!rder$+pireSeconds +efault is 96==, w$ic$ e/uals 96== secon!s or 1
$our, an! measures $ow long an* open or!ers s$oul! be ali"e before t$e*
are !elete!' (f set to =, t$e* will be open until t$e* are close! or !elete!
b* ot$er con!itions' T$is setting s$oul! normall* not affect t$e tra!ing'



Mone*LManagementM

Mone6Manage#ent ;* !efault t$is "alue is set to T43E, w$ic$ means
t$at lot siEe is automaticall* calculate! base! on amount of <ree margin,
4isk an! Stop8oss' (f *ou for an* reason !on)t want to use t$is but instea!
want to tra!e wit$ a fixe! lot siEe, t$en c$ange t$is to <8SE, an! also
c$ange t$e "alue of Manual8otsiEe (see below% to w$ate"er fixe! lot siEe
*ou want t$e E to tra!e wit$'

Min1ots T$is is t$e lowest allowe! lot-siEe t$at t$e robot will be tra!ing
wit$' ;* !efault t$is is set to ='=1, w$ic$ is t$e lowest lot-siEe t$at most
brokers allows' @owe"er, some brokers !oes not allow t$at small lot-siEes'
So onl* set t$is "alue if *our broker $as an* ot$er minimum for t$e lot-
siEe, A4 if *ou !o not want t$e robot to tra!e wit$ too small lot-siEes'

Ma+1ots T$is is t$e largest allowe! lot-siEe t$at t$e robot will be tra!ing
wit$' ;* !efault t$is is set to 1==' ,lease un!erstan!, t$at most brokers
!o not allow tra!ing wit$ larger lot-siEes t$an 1==, so it)s pointless to set
it to a $ig$er "alue t$an t$at' lso remember, t$at w$en tra!ing li"e, it is
less likel* t$at or!ers will be processe! if t$e lot-siEe is too big' T$ere)s
ne"er a problem to tra!e wit$ lot-siEes of 1== on !emo-accounts, but
scalping wit$ suc$ a $ig$ lot-siEes on real accounts can normall* not be
!one !ue to market con!itions' T$is "alue can also be !ecrease! if *ou
!on)t want t$e robot to increase t$e risk at t$e same rate as t$e profit
grows' Since t$e risk also !epen!s on t$e lot-siEe, w$ic$ is calculate!
!*namicall*, but ne"er is allowe! to be $ig$er t$an t$is "alue' @owe"er,
risk le"el s$oul! be a!.uste! wit$ t$e 4isk# setting (see below% an! not
t$is setting'

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Risk T$is sets t$e risk *ou accept for eac$ separate or!er' T$e actual risk
is wit$in 1==K to 1D=K of t$is "alue' n exception is w$en in!icator T4
is use! (see abo"e%, w$ere t$e risk percentage increases' <or instance, if
*ou set t$e risk to 7, t$en not more t$an 7K to 9K of t$e current balance
will be at risk per or!er' (t can be set to an*t$ing between ='1 an! NN'
T$e risk siEe calculates t$e lotsiEe as follows0 E/uit* C 4isk 1 1== 1
Stop8oss' So if t$e free margin is 1====, t$e 4isk is 7, an! t$e Stop8oss
is 6=, t$e t$e lotsiEe will be 9'99 (since 1==== C 7 1 1== 1 6= ? 9'99%'
T$is assumes t$at t$e or!er will $it Stop8oss, resulting in a loss of 4iskK
of t$e E/uit* (t$e amount of mone* t$at t$e broker allow *ou to tra!e
wit$%' 5ote0 T$e 4isk is alwa*s re-calculate! e"er* time t$e E starts, so
t$at it)s wit$in t$e allowe! limits' 5ote0 t$e 4isk cannot be set to a "alue
lower t$an ='1K' (f *ou set it to =, it will be re-a!.uste! to t$e lowest
possible 4isk' n! if *ou set t$e 4isk to 1==, it will be a!.uste! to t$e
$ig$est possible 4isk'

Manual1otsi:e0 ;* !efault, t$is is ne"er use!, since lot siEe will be
calculate! automaticall*' @owe"er, if *ou want to tra!e wit$ fixe! lot siEe,
t$en c$ange Mone*Management (see abo"e% to <8SE, an! set t$is "alue
to w$ate"er *ou want it to be' 5ote0 8otsiEe is alwa*s re-calculate! to
make sure t$at it)s wit$in t$e allowe! limits, so it)s not possible to force it
be*on! t$e 4isk limits'



ScreenLS$ooter0

TakeShots T$is feature will make screen !umps e"er* time an or!er is
execute!, an! sa"e t$e pictures wit$ t$e file name SnapS$ot# I currenc*
pair I MD# I#*ear-mont$-!a*# I $ourLminLsec# I number I 'gif#'

(ela6Ticks 5umber of tics to !ela* after e"er* new bar'

Shots2erBar 5umber of screen s$ots per bar'


1og 3ile

T$e E writes a log file, w$ic$ is sa"e! in expert1files (if *ou run !emo or
li"e account% an! in tester1logs (if *ou run Strateg* Tester% as current
!ate'log#' 6ou can access t$is file at an* time to "iew more !etails about
t$e broker an! t$e actual tra!ing, w$et$er t$is is on !emo or li"e account,
or after backtests' T$e first part of t$is log file contains t$e settings,
followe! b* broker information' T$en follows t$e actual tra!e information'
n! if *ou $a"e acti"ate! t$e +ebug# mo!e (see abo"e%, t$is log file will
also contain lots of ot$er information' Ance t$e E $as stoppe!, t$e last
part of t$is log file will also contain a summariEe! report about all errors
recei"e! from t$e broker ser"er'


; | o f p a g e 1 6


Backtesting

6ou can run t$e Strateg* Tester# in MetaTra!er & for backtests using an*
timeframe, but must loa! @istorical +ata for t$e timeframe M1 for t$e
currenc* pair t$at *ou)re testing' ,lease un!erstan! t$at t$e $istorical
!ata !oes not come from t$e broker but from MetaOuotes, t$e compan*
be$in! MetaTra!er &' T$e prices can an! will for sure !iffer slig$tl*' T$e
sprea! on t$e ot$er $an! is a fixe! sprea! t$at comes from t$e broker at
t$e time *ou run t$e backtest, an! it !iffers from e"er* time *ou run t$e
backtest' s a result *ou will get !ifferent results eac$ time *ou run t$e
backtest' n! !uring weeken!s t$e sprea! is extremel* $ig$' To o"errule
t$is, ( recommen! t$at *ou !ownloa! an! install t$e program an! script
Sprea! >ontroller# (aka Sprea! >$anger#% from
$ttp011www'mt&i'com1sprea!controller'aspx ' Bit$ t$is, *ou can set an*
sprea! *ou want'

,lease also un!erstan! t$at t$e $istorical !ata from MetaOuotes for M1
!oes not inclu!e t$e prices for e"er* tick, but onl* for e"er* bar (e"er*
minute%' T$is means t$at MetaTra!er simulates t$e tick !ata wit$in e"er*
bar, making backtests unreliable' T$at is, backtests can ne"er be 1==K
true, an! s$oul! onl* be use! to compare an! e"aluate !ifferent settings'
n! gi"e an o"erall un!erstan!ing of t$e tra!ing results'

(t)s possible to !o backtests using complete tick !ata from t$e compan*
+ukas>op*' 6ou can rea! more about t$is at $ttp011eare"iew'net1tick-
!ata'


Strateg6

T$e strateg* of XMT-Scalper is scalping on tic-basis, w$ere t$e E opens
;36STA, or SE88STA, or!ers w$en price breakouts occurs base! on a
specific in!icator' T$e in!icator is eit$er two Mo"ing "erages#, ;ollinger
;an!# or En"elopes# for t$e last 9 minutes' n* of t$e in!icators can be
use! as !eci!e! from t$e external settings 3se(n!icatorSwitc$#'

<or all in!icators, a c$annel# is calculate!' n! $ow wi!e t$is c$annel will
be is !eci!e! b* PFolatilit*8imitP in points, w$ic$ b* !efault is calculate!
an! a!.uste! !*namicall*, but also can be set to a fix "alue' (f !*namic, it
calculates t$is "alue as a multiplication of t$e a"erage sprea! !uring t$e
last 9= tics, an! t$e "alue of t$e PFolatilit*MultiplierP'

@ow muc$ t$e breakout s$oul! be in percentage of t$e ban!-wi!t$ is set
b* PFolatilit*,ercentage8imitP in percentage of t$e c$annel wi!t$'

Anl* one or!er is opene! at a time, an! an opene! ;36STA, 1 ;36SE88
or!er is treate! !ifferentl* from an opene! ;36 1 SE88 or!ers as follows0


1- | o f p a g e 1 6

n open ;36-or!er is mo!ifie! wit$ a new Stop8oss (S8% an! Take,rofit
(T,% if its current Take,rofit# is less t$an t$e current sk price# I
>ommission# I Take,rofit# I !!,rice:ap# 5+ current sk price# I
>ommission# I Take,rofit# I !!,rice:ap# Q existing Take,rofit# is
larger t$an t$e TrailingStart#'

n open SE88-or!er is in a similar wa* mo!ifie! wit$ a new S8 an! T, if
its current Take,rofit# is greater t$an current ;i!-price# - >ommission#
I Take,rofit# Q !!,rice:ap# 5+ current Take,rofit# Q current ;i!-
price# Q >ommission# I Take,rofit# Q !!,rice:ap# is larger t$an t$e
TrailingStart#'

T$e S8 for t$e mo!ifie! ;36-or!er is c$ange! to current ;i!-price# Q
Stop8oss# Q !!,rice:ap#, an! t$e T, to t$e current sk-price# I
>ommission# I Take,rofit# I !!,rice:ap#'

n! for t$e mo!ifie! SE88-or!er, t$e S8 is c$ange! to current sk-price#
I Stop8oss# I !!,rice:ap#, an! T, to current ;i!-price# Q
>ommission# Q Take,rofit# Q !!,rice:ap#'

Apen ;36STA, an! SE88STA, or!ers are eit$er mo!ifie! or !elete!' T$e*
are mo!ifie! wit$ new S8 an! T, as follows'

n open ;36STA, or!er is mo!ifie! if t$e current sk-price# I
Stop8e"el# I !!,rice:ap# is less t$an t$e Ar!erApen,rice# 5+ t$e
Ar!erApen,rice# Q current sk-price# I Stop8e"el# I !!,rice:ap# is
greater t$an TrailingStart#'

n open SE88STA, is mo!ifie! wit$ new S8 an! T, if current ;i!-price# Q
Stop8e"el# Q !!,rice:ap# is greater t$an Ar!erApen,rice 5+
current ;i!-price# Q Stop8e"el# - !!,rice:ap# Q Ar!erApen,rice is
greater t$an TrailingStart#'

(f t$e con!itions are not met for t$e ;36STA, or SE88STA, or!er, t$en
t$e* are !elete!'


<inal note

T$e !efault settings are not optimiEe! in an* wa*' (t)s recommen!e! t$at
*ou start testing on E343S+ before tr*ing it on an* ot$er pair, simpl*
because t$is pair offers t$e lowest sprea!' (f *ou want to run it on an*
ot$er currenc* pair, t$en please remember t$at a small, narrow sprea!
an! stople"el as well as fast execution are t$e most important factors' (t)s
pointless to tr* to use t$is robot on currenc* pairs t$at are more t$an 9
pips in sprea!, or wit$ brokers t$at uses too wi!e stople"el Q unless *ou
also wi!en t$e Stop8oss, Take,rofit an! TrailingStart accor!ingl*' 6ou also
nee! to run backtests wit$ !ifferent settings to fin! t$e best combination
of settings' n! if *ou want to tr* it on a li"e account, t$en please
remember t$at most brokers uses a muc$ $ig$er sprea! on t$eir real

11 | o f p a g e 1 6

accounts t$an on t$eir !emo-accounts' So be sure t$at *ou know t$e
t*pical sprea! an! stople"el for t$e real account first'

<in!ing a goo! broker is extremel* important if *ou)re going to run t$e
robot on a li"e account wit$ real mone*' <irst of all, t$e broker must
accept scalping wit$out restrictions' Secon!l*, t$e broker must offer low
sprea!s' An t$e E343S+ t$is means less t$an 7 pips, preferabl* 1 pip or
less' T$e reason, is because t$e robot makes man* small tra!es an! exits
tra!es wit$in a minute or so' T$ir!, t$e stople"el must also be low' T$is is
$ow man* pips t$at must !iffer between t$e current price an! t$e price
for takeprofit an! stoploss' T$is stople"el is usuall* also !ifferent between
currenc* pairs' ll t$at information for t$e broker can easil* be seen from
t$e Strateg* Tester# in MetaTra!er' >$oose t$e currenc* pair (E343S+%
an! click on S*mbol ,roperties#, an! *ou will see information about
sprea!, stople"el, etc' <ourt$, t$e broker s$oul! not use commission, or
at least $a"e a "er* low commission rate' ;ecause ot$erwise, most, if not
all, of t$e profit will be #eaten up# b* t$e commission'

,lease excuse an* explanation an!1or t*ping errors2

(f *ou fin! an* bugs an!1or $a"e suggestions for impro"ements, t$en
contact me at t$e forum $ttp011www'worl!wi!e-in"est'org'

-----------------------------------------------------------------------------------

To-do list
- Stealt$ tra!ing as an option, w$ere S8, T, an! unnecessar* Ar!erMo!if*
comman!s are not sent to t$e broker, but all manage! internall*'
- AptimiEe settings for !ifferent currenc* pairs'
- Make t$e E more profitable e"en !uring ba! con!itions (slow execution
spee!, $ig$ sprea!, re/uotes, etc%'
- (mpro"e tra!ing signals'

4ppendi+
Fersion $istor*0
Fer' 1'= (7=11-=N-7&% b* >apella0

- >leane! program co!e t$at is full* rea!able, wit$ proper names for functions an!
"ariables, an! unuse! "ariables an! program co!e remo"e!'

- +*namic settings for Take,rofit an! Stop8oss can now be c$ange! from external
settings as Folatilit*8imit an! Scalpfactor'

- <orce! TrailingStop, as all tests s$ows t$at t$is is man!ator* to make profit'

12 | o f p a g e 1 6


- T$is manual wit$ explanation on $ow to use t$is robot'

Fer' 7'= (7=11-1=-79% b* >apella0

- >$ange! name from M+,-e!u to M+,-,lus'

- utomatic trailing stop'

- !!e! a!!itional settings for scalping as follows0 3seMo"ing"erage,
3se;ollinger;an!s, an! Ar!erExpireSecon!s'

- >leane! t$e co!e e"en more, to make it more rea!able'

Fer' 7'1 (7=11-11-=1% b* >apella0

- !!e! (n!icator,erio! as external parameter'

- Mo!ifie! calculation of t$e "ariable t$at triggers tra!e for better
,erformance'

- 4emo"e! +istance as an external, an! automaticall* a!.ust it to be t$e same as broker
STA,8EFE8 instea!, in or!er to o"ercome error 19=' Error 19= can still occur t$oug$,
!epen!ing on t$e fact t$at t$e robot tries to mo!if* t$e Stop8oss as close as possible to
t$e broker STA,8EFE8' @owe"er, in most cases t$e Stop8oss will be mo!ifie! t$e
following tic'

- 4emo"e! call for t$e function subLmo"ean!fillarra*s# as it !oesnRt make an*
!ifference'

Fer 7'1'1 - 7=11-11-=D b* >apella0

- <ixe! a bug in t$e calculation of localL$ig$est# an! localLlowest# t$at
cause! wrong calls for Ar!erMo!if*#'

- >$ange! t$e calculation of STA,8EFE8 to also consi!er <4EEGE8EFE8'

Fer 7'1'7 - 7=11-11-=6 b* >apella0

- >$ange! !efault settings accor!ing to extensi"e optimiEe! backtests using a wi!e fixe!
sprea! of 1'6 pips'

- !!e! external parameter +e"iation for i;an!s, !efault 7'='

Fer 7'1'9 - 7=11-11-=H b* >apella0

- <ixe! a bug for calculation of localLisbi!greatert$anin!*# t$at ne"er triggere!
;36LSTA,# an! SE88LSTA,# or!er to be mo!ifie!'

Fer 7'1'& - 7=11-11-=N b* >apella0

- <ixe! a bug t$at onl* ma!e t$e robot tra!e on SE88 an! SE88STA,'
- ,ut back t$e call for t$e sub PsubLmo"ean!fillarra*sP except t$e last nonsense part of
it' T$e first part !i! make sense'
- >$ange! t$e !efault settings an! re-or!ere! t$e global "ariables'


1' | o f p a g e 1 6


Fer 7'1'D - 7=11-11-1= b* >apella0

- <ixe! a bug t$at cause! t$e robot to not tra!e for some brokers (if "ariable
PlocalLscalpsiEeP was ='=%'
- <ixe! a bug t$at coul! cause t$e lot-siEe to be calculate! wrongl*'
- ;etter output of !ebug information (more information%'
- Mo"e! a fixe! internal Max Sprea! to an external' T$e !efault internal "alue was &= (&
pips%, w$ic$ is too $ig$ (M@('
- 4ename! some local "ariables to more proper names in or!er to make t$e co!e more
rea!able'
- >leane! co!e furt$er b* remo"ing unuse! co!e'

Fer 7'1'Da - 7=11-11-1D b* blueprint1NH70

- !!e! Execution time in log files, to measure $ow fast or!ers are execute! at t$e
broker ser"er'

Fer 7'7 - 7=11-11-1H b* >apella0

- n option to calculate Felolcit*8imit# !*namicall* base! on t$e sprea!'
- 4emo"e! parameter Scalpfactor# as it $a! no impact on t$e tra!ing con!itions, onl* on
lotsiEe'
- Mo"e! t$e parameter (n!icator,erio!# to a global "ariable, as c$anging t$is "alue $a!
little or no impact on t$e tra!ing' T$e "alue is set to 9, so in!icators are calculate! 9 bars
back'
- ;etter lot calculation, now entirel* base! on <reeMargin, 4isk an! Stop8oss'
- new scalp factor calle! +*namicFolatilit*8imit# base! on t$e !ifference between
Folatilit*8imit an! i@ig$ 1 i8ow for triggering tra!es'
- T$e robot can now tra!e automaticall* on all currenc* pairs wit$in sprea! limit from
one single c$art'
- !!e! broker Suffix'
- (t now works on &-!igit brokers as well' @owe"er, t$e performance on &-!igit brokers is
worse t$an on D-!igit brokers, an! t$ere are muc$ less tra!es'

Fer 7'7'1 - 7=11-11-1J b* >apella0

- <ixe! a bug for calculation of >ommission' T$e "ariables PlocalLcommissionpipsP an!
PlocalLcommissionfactorP mo"e! from locals to globals'

Fer 7'7'1'7 - 7=11-11-1J b* Sonik0

- !!e! Screens$ot <unctionalit*'

Fer 7'7'7 - 7=11-11-1N b* >apella0

- !!e! automatic calculation of Magic5umber as an option'
- !.ust Min8ot to broker minimum'
- >orrection of lotsiEe calculation accor!ing to broker lotstep'

Fer 7'7'9 - 7=11-11-71 b* >apella0

- <ixe! bug for calculation of lotsiEe calculation accor!ing to broker lotstep'
- !!e! broker >omission as an external parameter, an! correcte! t$e calculation'
- 4e-arrrange! some co!e - mo"ing parts to subroutines'


10 | o f p a g e 1 6


Fer 7'7'& - 7=11-11-79 b* >apella
- Improved performance.
- Cleaned code further and moved parts of code to subroutines.

Ver 2.2.4a - 2011-11-24 by blueprint.
- Added execution control.

Fer 7'7'&b - 7=11-11-7& b* ,annik
- !!e! manual fixe! lots as an option'

Fer 7'7'D Q 7=11-11-7D b* >apella

- <ixe! bug for too small lot siEe an! wrong 4isk settings'
- >$ange! ran!omiEe! execution time for backtests to be wit$in = an! MaxExecution'
- >leane! t$e co!e furt$er'

Fer 7'7'6 - 7=11-11-7D b* >apella

- <ixe! bug for too large lotsiEe'
- <ixe! t$e bug for Tra!e88>urrenc*,airs'
- Mo"e! broker suffix from external parameter to automaticall* calculate! in a subroutine
- 4emo"e! unnecessar* program co!e, cleane! an! organiEe! t$e co!e furt$er

Fer 7'7'H - 7=11-11-9= b* >apella

- <ixe! a bug for t$e broker >ommission

Fer 7'7'J - 7=11-17-=& b* >apella
- 4emo"e! Tra!e88>urrenc*,airs as it was too bugg* an! coul! not cope wit$ t$e fast
tra!es, better attac$ on separate c$arts'
- <ixe! bug w$ere iM was use! instea! of eit$er1or iM1i;an!s for mo!*f*ing ;36STA,
an! SE88STA, or!ers'
- 4ewrote some of t$e co!e to make it easier to follow an! un!erstan!'
- 4ewrote subs to c$eck lotsiEe an! risk settings, an! a!.ust t$em accor!ingl*
- !!e! more comments to program co!e'
- !!e! time for $ow often fake or!ers s$oul! be sent in or!er to calculate execution
spee! (MaxExecutionMinutes%'
- 4emo"e! unuse! "ariables an! co!e'

Fer 7'9 - 7=11-17-=J b* >apella
- >$ange! name of t$e E (from M+,-,lus% as t$e t$rea! in t$e forum once again was
!elete!' T$is E is now a cop*rig$te! s$areware Q a non-commercial pro!uct free to use'
- 4emo"e! Tra!e88>urrenc*,airs as it was too bugg* an! coul! not cope wit$ t$e fast
tra!es, better attac$ on separate c$arts'
- <ixe! bug w$ere iM was use! instea! of eit$er1or iM1i;an!s for mo!if*ing ;36STA,
an! SE88STA, or!ers'
- 4ewrote some of t$e co!e to make it easier to follow an! un!erstan!'
- 4ewrote subs to c$eck lotsiEe an! risk settings, an! a!.ust t$em accor!ingl
- !!e! more comments to program co!e'
- !!e! time for $ow often fake or!ers s$oul! be sent in or!er to calculate execution
spee!'
- 4emo"e! unuse! "ariables an! co!e'
- !!e! c$eck so no tra!ing can start before we $a"e gat$ere! enoug$ of ;ar-!ata'
- Mo"e! Slippage to an external parameter so it can be c$ange!'
- !!e! summation of broker error co!es'


1. | o f p a g e 1 6


Fer 7'9'1 - 7=11-17-=J b* >apella
- <ixe! a bug t$at coul! cause lotsiEe to be greater t$an Max8ots'

Fer 7'9'7 - 7=11-17-=N b* blueprint1NH7
- !!e! option for simulate! latenc* !uring backtests'

Fer 7'9'7b - 7=11-17-=N b* !erox
- !!e! iEn"elopes an! iT4 as in!icators'

Fer 7'9'7c - 7=11-17-1= b* ,annik
- !!e! P3se(n!icatorSwitc$P for c$oosing in!icator to use'

Fer 7'9'7! - 7=11-17-17 b* !erox
- !!e! ll"erages as in!icator' 5ote0 T$is re/uires external in!icator'

Fer 7'9'9 - 7=11-17-17 b* >apella
- !!e! !!,rice:ap as an external parameter to increase S8 an! T, in or!er to
!ecrease number of error 19='
- 4eplace! iM wit$ ll"erages'
- 4emo"e! iM 5+ i;an!s combination'
- <ixe! minor bugs'
- >leane! up t$e co!e furt$er'

Fer 7'9'& - 7=11-17-19 b* >apella
- 4emo"e! ll"erages as it !i!nRt make an* !ifference compare! to stan!ar! Mo"ing
"erage'
- <ixe! bug for iT4 in!icator'
- !!e! !ual-tra!e as an option for iT4'

Fer 7'& Q 7=11-=N-=6 b* >apella
- 4emo"e! some external settings incl' T4 an! its settings'
- !!e! external settings Minimum3seStop8e"el#
- <ixe! bugs, so it works better wit$ !ifferent brokers wit$out error 19='

Fer 7'&'1 - 7=17-1=-79 b* >apella
- !!e! c$eck for w$en E>5LMo!e ?? T43E an! ;361SE88 or!ers $a"e not *et been
mo!ifie!, to pre"ent running or!ers wit$out S8' Bait 1 secon! an! t$en mo!if* t$e or!er
wit$ a S8 t$at is 9 pip from current price'
- >$ange! !efault settings after extensi"e backtests using NNK tick-!ata'

Fer 7'&'7 - 7=19-=H b* >apella
- !!e! lot-siEe re-calculation if ccount >urrenc* is not 3S+ but eit$er E34, :;,, >@<
or S,6
- !!e! 4e"erseTra!e as an option
- >$ange! algorit$m for automaticall* calculation of magic number
- !!e! printout info if t$ere was no errors reporte! from t$e broker ser"er

Fer 7'&'9 - 7=1&-=D b* >apella
- <ixe! bug - ;;+e"iation is (5T not +ouble
- Mo"e! (n!icator,erio! to externals
- Minor bugs fixe!
- >ompilation test on bot$ MT& ;uil! D=N as well as on 61=

Fer 7'&& - 7=1&-=J-76 b* >apella
- >$ange! "ersion presentation to onl* one point ( ' %, i'e' 7'&'&' becomes 7'&&
- !!e! control of stra* tra!es (tra!es wit$out S8 an! T,%'
(f it fin!s a stra* or!er it will tr* to a!! a S8 1= points from current price'
- >$ange! $ow Minimum3seStop8e"el is calculate! an! use!' 5ow t$e Stop8e"el is t$e
$ig$est "alue of

17 | o f p a g e 1 6

eit$er t$is "alue or t$e ;roker Stop8e"el' T$is Stop8e"el is t$en a!!e!1substracte!
from t$e current price for ;u*Stop an! SellStop or!ers' T$e "alue expresse! in ,oints'
- !!e! spaces aroun! ( an! % an! after commas , to en$ance rea!abilit*
- !!e! 3+ an! 5G+ as possible account currencies for calculation of multiplicator
(use! to correct lotsiEe%, an! mo"e! it to a subroutine'