The strategy of Assar Elite Pro Forex Scalper V10/V11/V9/V8 is scalping on tic-basis, where the EA opens BUYSTOP or SELLSTOP orders when price breakouts occurs based on the indicator. The indicator is either two “Moving Averages”, “Bollinger Band” or “Envelopes” for the last 3 minutes. Any of the indicators can be used as decided from the external settings. These settings you will find in the mql4 file you received when you first purchased ASSARV10 or downloaded ASSARV11.
For all indicators, “a channel” is calculated. And how wide this channel will be is decided by “VolatilityLimit” in points, which by default is calculated and adjusted dynamically, but also can be set to a fix value. If dynamic, it calculates this value as a multiplication of the average spread during the last 30 tics, and the value of the “VolatilityMultiplier”.
How much the breakout should be in percentage of the band-width is set by “VolatilityPercentageLimit” in percentage of the channel width.
Volatility Settings: (You can find these settings inside of your mql4 file)
This is actually a part of the trading settings, but covers more specific settings for how the scalping should be done.
VolatilityMultiplier / 10 * RealAverageSpread, where “VolatilityMultiplier” is set as below, and “RealAverageSpread” is the average value of the spread during the last 30 tics + any broker commission. So for instance, if the spread is 16 (1.6 pip) and commission is 0, then “VolatilityLimit” will be 200 points (or 20 pips), since 125 / 10 * 16 = 200.
VolatilityMultiplier: A multiplication factor to be used. Default 125. Before you change this, please make sure that you make some calculations according to the formula above based on different spreads so that you fully understand how this value changes.
VolatilityLimit: This sets the sensitivity for when trading will start, based on the size of the volatility (how much the prices has moved). It’s the distance in points between the highest price (known as iHigh) and lowest price (known as iLow) during the current bar. If the price moves more than this, an order will be opened in the opposite direction. If you set this level to too high, there will be fewer trades, but it could also increase the winning rate. If it’s too low, it will start to trade more often, but the winning rate could decrease. It can be as low as 50 (or even lower) or as high as 500 (or even higher). A value around 180 (18 pips) seem to be a good average.
UseVolatilityPercentage: Normally the Volatiliity (the difference between iHigh and iLow during the current bar) must be more than the VolatilityLimit in order to trigger a trade, disregarding of how much the VolatilityLimit is. If this is set to be TRUE, then this difference must exceed with a minimum percentage known as “VolatilityPercentageLimit” (see below). For instance, if “VolatilityPercentageLimit” is set to 60, then the Volatility must exceed the “VolatilityLimit” with at least 60%. So if VolatilityLimit is 180 then the Volatility (the difference between iHigh and iLow) must be 180 * 1.6 = 288 points.
VolatilityPercentageLimit: A factor used if the above “UseVolatility-Percetage” is set to TRUE, and measured as percentage. For instance, 60 means 60%. Otherwise not used. Set this to a whole value representing how many percentage more you want this to be (see explanation above under “UseVolatilityPercentage”). The higher the value, the fewer trades but most likely also stronger signals.
Only one order is opened at a time, and an opened BUYSTOP / BUYSELL order is treated differently from an opened BUY / SELL orders as follows:
An open BUY-order is modified with a new StopLoss (SL) and TakeProfit (TP) if its current “TakeProfit” is less than the “current Ask price” + “Commission” + “TakeProfit” + “AddPriceGap” AND “current Ask price” + “Commission” + “TakeProfit” + “AddPriceGap” – “existing TakeProfit” is larger than the “TrailingStart”.
An open SELL-order is in a similar way modified with a new SL and TP if its “current TakeProfit” is greater than “current Bid-price” – “Commission”
“TakeProfit” – “AddPriceGap” AND “current TakeProfit” – “current Bid-price” – “Commission” + “TakeProfit” – “AddPriceGap” is larger than the “TrailingStart”.
The SL for the modified BUY-order is changed to “current Bid-price” – “StopLoss” – “AddPriceGap”, and the TP to the “current Ask-price” + “Commission” + “TakeProfit” + “AddPriceGap”.
And for the modified SELL-order, the SL is changed to “current Ask-price”
“StopLoss” + “AddPriceGap”, and TP to “current Bid-price” – “Commission” – “TakeProfit” – “AddPriceGap”.
Open BUYSTOP and SELLSTOP orders are either modified or deleted. They are modified with new SL and TP as follows.
An open BUYSTOP order is modified if the “current Ask-price” + “StopLevel” + “AddPriceGap” is less than the “OrderOpenPrice” AND the “OrderOpenPrice” – “current Ask-price” + “StopLevel” + “AddPriceGap” is greater than “TrailingStart”.
An open SELLSTOP is modified with new SL and TP if “current Bid-price” – “StopLevel” – “AddPriceGap” is greater than “OrderOpenPrice“ AND “current Bid-price” – “StopLevel” – “AddPriceGap” – “OrderOpenPrice“ is greater than “TrailingStart”.
If the conditions are not met for the BUYSTOP or SELLSTOP order, then they are deleted.