Ultimate Pip Scalper MT5 2.1

Ultimate Pip Scalper is an advanced Expert Advisor for the MetaTrader 5 trading platforms that implements a unique trading strategy combined with strict money management system.

Ultimate Pip Scalper has full set of input parameters that allow traders to take full control over the strategy and adjust it according their preferences and assets traded.

SYSTEM REQUIREMENTS

Ultimate Pip Scalper required MetaTrader 5 (build 3333) on a Windows 7/8/10/11 operating system and MetaTrader WebRequest functionality available and enabled for license verification.

Ultimate Pip Scalper implements a unique trading strategy based on six internal indicators combined with strict money management system and a wide range of additional control parameters. Indicators Sig1 and Sig2 are used to generate OPEN signals and STOP LOSS points for the six open strategies and CLOSE signals for four strategies, while indicators Sig3, Sig4, and Sig5 are used to generate CLOSE signal.

All indicators and strategies are described in full detail below with all the corresponding mathematical formulas that are implemented and used internally for calculations.

INPUT PARAMETERS

Input	Default	Range	Description	Reference
— License Key —
TM_LicenseKey			License Key	Unlocked version – no License key required!
— Money Management —
MM_RiskPercentage	1.00	0.1 – 5.00	Risk % per trade	Position Sizing & Money Management
MM_RiskMarginMode	All Available	.	Maximal level of margin to use when opening a new trade.
MM_MarginCurrencyRate	1.00	.	Currency rate to use for CFDs (if tick value not in deposit currency)
— Signal Generators —
Sig0_Timeframe	1 Hour		Timeframe used for all internal calculation	Sig0 General Parameters
Sig0_MinPeriod	1	0 – 10	Minimal period in bars between signals generated	Sig0 General Parameters
Sig1_SPeriod	10	5 – 10	Period in bars	Sig1 Internal Indicator
Sig1_LPeriod	25	15 – 25	Period in bars	Sig1 Internal Indicator
Sig1_PPeriod	50	40 – 60	Period in bars	Sig1 Internal Indicator
Sig2_SPeriod	9	5 – 10	Period in bars	Sig2 Internal Indicator
Sig2_LPeriod	20	15 – 25	Period in bars	Sig2 Internal Indicator
Sig3_AFStart	0.02	0.01 – 0.05	Acceleration factor	Sig3 Internal Indicator
Sig3_AFMax	0.2	0.1 – 0.5	Max acceleration factor	Sig3 Internal Indicator
Sig4_TPPeriod	15	5 – 15	Period in bars	Sig4 Internal Indicator
Sig4_TPELevel	7	1 – 20	Extreme threshold level	Sig4 Internal Indicator
Sig5_VDPeriod	20	10 – 30	Period in bars	Sig5 Internal Indicator
Sig5_VDVariance	2	1 – 5	Standard variance	Sig5 Internal Indicator
— OPEN Strategy #1A —
Strat1A_Sig1	true		Enable/disable strategy	Sig1 Internal Indicator
Strat1A_Sig2	false		Enable/disable strategy	Sig2 Internal Indicator
Strat1A_PS_Prc	100	1 – 100	Percentage of the MM_RiskPercentage	Position Sizing
Strat1A_TP_Points	1000	> 0	Take Profit in points	Take Profit
Strat1A_SL_MinPoints	200	> 0	Stop Loss min. in points	Stop Loss
Strat1A_SL_MaxPoints	500	> 0	Stop Loss max. in points
Strat1A_SLC_MinPoints	0	>= 0	Stop Loss Control min. in points	Stop Loss Control
Strat1A_SLC_MaxPoints	2500	>= 0	Stop Loss Control max. in points
— OPEN Strategy #1B —
Strat1B_Sig1	true		Enable/disable strategy	Sig1 Internal Indicator
Strat1B_Sig2	false		Enable/disable strategy	Sig2 Internal Indicator
Strat1B_PS_Prc	100	1 – 100	Percentage of the MM_RiskPercentage	Position Sizing
Strat1B_TP_Points	1000	> 0	Take Profit in points	Take Profit
Strat1B_SL_MinPoints	200	> 0	Stop Loss min. in points	Stop Loss
Strat1B_SL_MaxPoints	500	> 0	Stop Loss max. in points
Strat1B_SLC_MinPoints	0	>= 0	Stop Loss Control min. in points	Stop Loss Control
Strat1B_SLC_MaxPoints	2500	>= 0	Stop Loss Control max. in points
— OPEN Strategy #2A —
Strat2A_Sig1	true		Enable/disable strategy	Sig1 Internal Indicator
Strat2A_Sig2	false		Enable/disable strategy	Sig2 Internal Indicator
Strat2A_PS_Prc	100	1 – 100	Percentage of the MM_RiskPercentage	Position Sizing
Strat2A_TP_Points	1000	> 0	Take Profit in points	Take Profit
Strat2A_SL_MinPoints	200	> 0	Stop Loss min. in points	Stop Loss
Strat2A_SL_MaxPoints	500	> 0	Stop Loss max. in points
Strat2A_SLC_MinPoints	0	>= 0	Stop Loss Control min. in points	Stop Loss Control
Strat2A_SLC_MaxPoints	2500	>= 0	Stop Loss Control max. in points
— OPEN Strategy #2B —
Strat2B_Sig1	true		Enable/disable strategy	Sig1 Internal Indicator
Strat2B_Sig2	false		Enable/disable strategy	Sig2 Internal Indicator
Strat2B_PS_Prc	100	1 – 100	Percentage of the MM_RiskPercentage	Position Sizing
Strat2B_TP_Points	1000	> 0	Take Profit in points	Take Profit
Strat2B_SL_MinPoints	200	> 0	Stop Loss min. in points	Stop Loss
Strat2B_SL_MaxPoints	500	> 0	Stop Loss max. in points
Strat2B_SLC_MinPoints	0	>= 0	Stop Loss Control min. in points	Stop Loss Control
Strat2B_SLC_MaxPoints	2500	>= 0	Stop Loss Control max. in points
— OPEN Strategy #3A —
Strat3A_Sig1	true		Enable/disable strategy	Sig1 Internal Indicator
Strat3A_Sig2	false		Enable/disable strategy	Sig2 Internal Indicator
Strat3A_PS_Prc	100	1 – 100	Percentage of the MM_RiskPercentage	Position Sizing
Strat3A_TP_Points	1000	> 0	Take Profit in points	Take Profit
Strat3A_SL_MinPoints	200	> 0	Stop Loss min. in points	Stop Loss
Strat3A_SL_MaxPoints	500	> 0	Stop Loss max. in points
Strat3A_SLC_MinPoints	0	>= 0	Stop Loss Control min. in points	Stop Loss Control
Strat3A_SLC_MaxPoints	2500	>= 0	Stop Loss Control max. in points
— OPEN Strategy #3B —
Strat3B_Sig1	true		Enable/disable strategy	Sig1 Internal Indicator
Strat3B_Sig2	false		Enable/disable strategy	Sig2 Internal Indicator
Strat3B_PS_Prc	100	1 – 100	Percentage of the MM_RiskPercentage	Position Sizing
Strat3B_TP_Points	1000	> 0	Take Profit in points	Take Profit
Strat3B_SL_MinPoints	200	> 0	Stop Loss min. in points	Stop Loss
Strat3B_SL_MaxPoints	500	> 0	Stop Loss max. in points
Strat3B_SLC_MinPoints	0	>= 0	Stop Loss Control min. in points	Stop Loss Control
Strat3B_SLC_MaxPoints	2500	>= 0	Stop Loss Control max. in points
— CLOSE Strategy —
Close_Sig1A	false		Enable/disable strategy	Sig1 Internal Indicator
Close_Sig1B	false		Enable/disable strategy	Sig1 Internal Indicator
Close_Sig2A	false		Enable/disable strategy	Sig2 Internal Indicator
Close_Sig2B	false		Enable/disable strategy	Sig2 Internal Indicator
Close_Sig3A	false		Enable/disable strategy	Sig3 Internal Indicator
Close_Sig4A	false		Enable/disable strategy	Sig4 Internal Indicator
Close_Sig4B	false		Enable/disable strategy	Sig4 Internal Indicator
Close_Sig5A	false		Enable/disable strategy	Sig5 Internal Indicator
— CLOSE Strategy – Trailing Stop —
TStop_Points	250	>= 5	Value in Points	Trailing Stop
TStop_Step	50	>= 5	Value in Points
TStop_Above	250	>= 0	Value in Points
— Trading Days & Hours —
Trade_Mon	true		Enable/Disable Monday trading	Trading Days & Hours
Trade_Mon_Start_Hour	00		Monday trading start hour
Trade_Mon_Start_Minute	00		Monday trading start minute
Trade_Mon_End_Hour	00		Monday trading end hour
Trade_Mon_End_Minute	00		Monday trading end minute
Trade_Mon_EOD_Close	false		Close open trades at the end of Monday
Trade_Tue	true		Enable/Disable Tuesday trading	Trading Days & Hours
Trade_Tue_Start_Hour	00		Tuesday trading start hour
Trade_Tue_Start_Minute	00		Tuesday trading start minute
Trade_Tue_End_Hour	00		Tuesday trading end hour
Trade_Tue_End_Minute	00		Tuesday trading end minute
Trade_Tue_EOD_Close	false		Close open trades at the end of Tuesday
Trade_Wed	true		Enable/Disable Wednesday trading	Trading Days & Hours
Trade_Wed_Start_Hour	00		Wednesday trading start hour
Trade_Wed_Start_Minute	00		Wednesday trading start minute
Trade_Wed_End_Hour	00		Wednesday trading end hour
Trade_Wed_End_Minute	00		Wednesday trading end minute
Trade_Wed_EOD_Close	false		Close open trades at the end of Wednesday
Trade_Thu	true		Enable/Disable Thursday trading	Trading Days & Hours
Trade_Thu_Start_Hour	00		Thursday trading start hour
Trade_Thu_Start_Minute	00		Thursday trading start minute
Trade_Thu_End_Hour	00		Thursday trading end hour
Trade_Thu_End_Minute	00		Thursday trading end minute
Trade_Thu_EOD_Close	false		Close open trades at the end of Thursday
Trade_Fri	true		Enable/Disable Friday trading	Trading Days & Hours
Trade_Fri_Start_Hour	00		Friday trading start hour
Trade_Fri_Start_Minute	00		Friday trading start minute
Trade_Fri_End_Hour	00		Friday trading end hour
Trade_Fri_End_Minute	00		Friday trading end minute
Trade_Fri_EOD_Close	false		Close open trades at the end of Friday
Trade_Sat	false		Enable/Disable Saturday trading	Trading Days & Hours
Trade_Sat_Start_Hour	00		Saturday trading start hour
Trade_Sat_Start_Minute	00		Saturday trading start minute
Trade_Sat_End_Hour	00		Saturday trading end hour
Trade_Sat_End_Minute	00		Saturday trading end minute
Trade_Sat_EOD_Close	false		Close open trades at the end of Saturday
Trade_Sun	false		Enable/Disable Sunday trading	Trading Days & Hours
Trade_Sun_Start_Hour	00		Sunday trading start hour
Trade_Sun_Start_Minute	00		Sunday trading start minute
Trade_Sun_End_Hour	00		Sunday trading end hour
Trade_Sun_End_Minute	00		Sunday trading end minute
Trade_Sun_EOD_Close	false		Close open trades at the end of Sunday
— Advanced —
Hedging	false	.	Enable/Disable opening of opposite trades	.
MaxOpenTrades	1	.	Maximal number of open trades.	.
OpenCooldownSeconds	60	.	Minimal time in seconds to wait before opening a new trade.	.
MaxSlippage	5	.	Maximum slippage in Points allowed when sending orders	.
PriceTooClose	5	.	Minimum distance in Points set from the current price so the order will be adjusted if necessary.	.
Magic_Number_Auto	true	.	Automatically generate MagicNumber values per asset if set to true	.
Magic_Number	51200	.	MagicNumber value to use if Magic_Number_Auto is set to false	.
Audible_Alerts	true	.	Enable/Disable audible alerts	.

 

SIG0 GENERAL PARAMETERS

Sig0_Timeframe

internal timeframe for the Expert Advisor; all internal indicators will work with the selected timeframe instead of the chart timeframe.

Sig0_MinPeriod

minimal period in bars between signals generated; internal indicators will not generate more than 1 signal for each Sig0_MinPeriod bars.

SIG1 INTERNAL INDICATOR

PARAMETERS

Sig1_SPeriod

short period in bars, used to calculate Sig1_MA1 with typical range from 5 to 10 bars.

Sig1_LPeriod

long period in bars, used to calculated Sig1_MA2 with typical range from 15 to 25 bars.

Sig1_PPeriod

extra long period in bars, used to calculate Sig1_MA4 with typical range from 40 to 60.

COMPONENTS

Several elements make up the Sig1 indicator. The elements consist of the following four moving averages:

Sig1_MA1

The first component of the Sig1 indicator is Sig1_MA1. It is a moving average that is calculated by taking the average of the high and the low for the last Sig1_SPeriod periods. The market is deemed to be trending if the Sig1_MA1 is moving up or down. However, if the line moves horizontally, it indicates a ranging market. It is calculated as follows:

Sig1_MA1 = (Sig1_SPeriod Highest High + Sig1_SPeriod Lowest Low) / 2

Sig1_MA2

The Sig1_MA2 is a support/resistance line that acts as an indicator of Price movements in the future. The Sig2_MA2 is similar to the Sig2_MA1, but takes a longer time frame into consideration. It is measured by taking the average of the highs and lows for the last Sig1_LPeriod periods. The Sig2_MA2 typically lags behind the Sig2_MA1 since the former comprises longer periods than the latter. It is calculated as follows:

Sig1_MA2 = (Sig1_LPeriod High + Sig1_LPeriod Low) / 2

Sig1_MA3

Sig1_MA3 is the average of the highs and lows of Sig1_MA1 and Sig1_MA2 and is plotted Sig1_LPeriod periods to the right. If the Price is above the Sig1_MA3, the top and the bottom lines become the first and second support levels, respectively. Conversely, when the Price moves below the Sig1_MA3, the bottom and the top lines become first and second resistance levels, respectively. It is calculated as follows:

Sig1_MA3 = (Sig1_MA1 + Sig1_MA2) / 2 (plotted Sig1_LPeriod points to the right)

Sig1_MA4

It is calculated by taking the average of the high and low of the past Sig1_PPeriod periods and plotting it Sig1_LPeriod points to the right. It is used to define an area of dynamic support and resistance together with Sig1_MA3. It is calculated as follows:

Sig1_MA4 = (Sig1_PPeriod High + Sig1_PPeriod Low) / 2 (plotted Sig1_LPeriod points to the right)

SIGNALS

The Sig1 indicator provides the trend direction, and it also indicates support and resistance levels. Dynamic support and resistance (S/R) area is formed by the two lines, Sig1_MA3 and Sig1_MA4. The trend is dependent on the location of Price in relation to the dynamic S/R area. For example, when the Price is above the S/R area, the trend is up, while the trend is down when the Price is below the area. If the Price is in the area, the trend is flat or undetermined.

The strength of the trend can also be influenced by the position of Sig1_MA3 and Sig1_MA4. For example, when Sig1_MA3 moves above Sig1_MA4, the trend is stronger in the bottom-up direction, while the opposite is true when Sig1_MA4 moves above Sig1_MA3.

OPEN signals are triggered by the following strategies:

Strat1A_Sig1

Signal is triggered when Sig1_MA1 crosses Sig1_MA2 in the direction of the trend, defined by the Sig1_MA2; while the Price is outside the dynamic S/R area, defined by Sig1_MA3 and Sig1_MA4, in the direction of the trend; and also the trend is considered strong according to the Sig1_MA3 and Sig1_MA4.

BUY

when Sig1_MA1 crosses above Sig1_MA2; while Price is above Sig1_MA3; and Sig1_MA3 is above Sig1_MA4.

SELL

when Sig1_MA1 crosses below Sig1_MA2; while Price is below Sig1_MA3; and Sig1_MA3 is below Sig1_MA4.

Stop Loss

= Sig1_MA4

Strat1B_Sig1

Signal is triggered when Sig1_MA1 crosses Sig1_MA2 in the direction of the trend, defined by the Sig1_MA2; while the Price is outside the dynamic S/R area, defined by Sig1_MA3 and Sig1_MA4, in the direction of the trend; and also the trend is considered weak according to the Sig1_MA3 and Sig1_MA4.

BUY

when Sig1_MA1 crosses above Sig1_MA2; while Price is above Sig1MA3; and Sig1_MA3 is below Sig1_MA4.

SELL

when Sig1_MA1 crosses below Sig1_MA2; while Price is below Sig1MA3; and Sig1_MA3 is above Sig1_MA4.

Stop Loss

= Sig1_MA3

Strat2A_Sig1

Signal is triggered when the Price pops out of the dynamic S/R area in the direction of the trend, defined by the Sig1_MA1 and Sig1_MA2; and also the trend is considered strong according to the Sig1_MA3 and Sig1_MA4.

BUY

when Price crosses above Sig1_MA3; while Sig1_MA3 is above Sig1_MA4; and Sig1_MA1 is above Sig1_MA2.

SELL

when Price crosses below Sig1_MA3; while Sig1_MA3 is below Sig1_MA4; and Sig1_MA1 is below Sig1_MA2.

Stop Loss

= Sig1_MA4

Strat2B_Sig1

Signal is triggered when the Price pops out of the dynamic S/R area in the direction of the trend, defined by the Sig1_MA1 and Sig1_MA2; and also the trend is considered weak according to the Sig1_MA3 and Sig1_MA4.

BUY

when Price crosses above Sig1_MA4; while Sig1_MA3 is below Sig1_MA4; and Sig1_MA1 is above Sig1_MA2.

SELL

when Price crosses below Sig1_MA4; while Sig1_MA3 is above Sig1_MA4; and Sig1_MA1 is below Sig1_MA2.

Stop Loss

= Sig1_MA3

Strat3A_Sig1

Signal is triggered when Sig1_MA1 crosses Sig1_MA2 in the direction of the trend, defined by the Sig1_MA2; while the Price is inside the dynamic S/R area, defined by Sig1_MA3 and Sig1_MA4; and also the trend is considered strong according to the Sig1_MA3 and Sig1_MA4.

BUY

when Sig1_MA1 crosses above Sig1_MA2; while Price is below Sig1_MA3 and above Sig1_MA4; and Sig1_MA3 is above Sig1_MA4.

SELL

when Sig1_MA1 crosses below Sig1_MA2; while Price is above Sig1_MA3 and below Sig1_MA4; and Sig1_MA3 is below Sig1_MA4.

Stop Loss

= Sig1_MA4

Strat3B_Sig1

Signal is triggered when Sig1_MA1 crosses Sig1_MA2 in the direction of the trend, defined by the Sig1_MA2; while the Price is inside the dynamic S/R area, defined by Sig1_MA3 and Sig1_MA4; and also the trend is considered weak according to the Sig1_MA3 and Sig1_MA4.

BUY

when Sig1_MA1 crosses above Sig1_MA2; while Price is below Sig1_MA4 and above Sig1_MA3; and Sig1_MA3 is below Sig1_MA4.

SELL

when Sig1_MA1 crosses below Sig1_MA2; while Price is above Sig1_MA4 and below Sig1_MA3; and Sig1_MA3 is above Sig1_MA4.

Stop Loss

= Sig1_MA3

CLOSE signals are triggered by the following strategies:

Close_Sig1A

Close LONG

when Price and Sig1_MA1 cross below Sig1_MA2.

Close SHORT

when Price and Sig1_MA1 cross above Sig1_MA2.

Close_Sig1B

Close LONG

when Price crosses below Sig1_MA2.

Close SHORT

when Price crosses above Sig1_MA2.

SIG2 INTERNAL INDICATOR

PARAMATERS

Sig2_SPeriod

short period in bars, used to calculate Sig2_MA1 with typical range from 5 to 10 bars.

Sig2_LPeriod

long period in bars, used to calculated Sig2_MA2 with typical range from 15 to 25 bars.

COMPONENTS

The Sig2 indicator consist of the following two moving averages:

Sig2_MA1

The Sig2_MA1 represents an exponential moving average with weighted close prices. The market is deemed to be trending if the Sig2_MA1 is moving up or down. However, if the line moves horizontally, it indicates a ranging market. It is calculated as follows:

Sig2_MA1 = (High + Low + Close + Close / 4) x K + Sig2_MA1(last) x (1 – (2 % (Sig2_SPeriod + 1)))

Sig2_MA2

The Sig2_MA2 is a support/resistance line that acts as an indicator of price movements in the future. The Sig2_MA2 is similar to the Sig2_MA1, but takes a longer time frame into consideration. It is calculated as follows:

Sig2_MA2 = (High + Low + Close + Close / 4) x K + Sig2_MA2(last) x (1 – (2 % (Sig2_LPeriod + 1)))

SIGNALS

Signals are generated by taking into considerations the two components of the Sig2 indicator, Sig2_MA1 and Sig2_MA2, and the two components of the Sig1 indicator, Sig1_MA3 and Sig1_MA4, similarly to the Sig1 signals.

OPEN signals are triggered by the following strategies:

Strat1A_Sig2

Signal is triggered when Sig2_MA1 crosses Sig2_MA2 in the direction of the trend, defined by the Sig2_MA2; while the Price is outside the dynamic S/R area, defined by Sig1_MA3 and Sig1_MA4, in the direction of the trend; and also the trend is considered strong according to the Sig1_MA3 and Sig1_MA4.

BUY

when Sig2_MA1 crosses above Sig2_MA2; while Price is above Sig1_MA3; and Sig1_MA3 is above Sig1_MA4.

SELL

when Sig2_MA1 crosses below Sig2_MA2; while Price is below Sig1_MA3; and Sig1_MA3 is below Sig1_MA4.

Stop Loss

= Sig1_MA4

Strat1B_Sig2

Signal is triggered when Sig2_MA1 crosses Sig2_MA2 in the direction of the trend, defined by the Sig2_MA2; while the Price is outside the dynamic S/R area, defined by Sig1_MA3 and Sig1_MA4, in the direction of the trend; and also the trend is considered weak according to the Sig1_MA3 and Sig1_MA4.

BUY

when Sig2_MA1 crosses above Sig2_MA2; while Price is above Sig1MA3; and Sig1_MA3 is below Sig1_MA4.

SELL

when Sig2_MA1 crosses below Sig2_MA2; while Price is below Sig1MA3; and Sig1_MA3 is above Sig1_MA4.

Stop Loss

= Sig1_MA3

Strat2A_Sig2

Signal is triggered when the Price pops out of the dynamic S/R area in the direction of the trend, defined by the Sig2_MA1 and Sig2_MA2; and also the trend is considered strong according to the Sig1_MA3 and Sig1_MA4.

BUY

when Price crosses above Sig1_MA3; while Sig1_MA3 is above Sig1_MA4; and Sig2_MA1 is above Sig2_MA2.

SELL

when Price crosses below Sig1_MA3; while Sig1_MA3 is below Sig1_MA4; and Sig2_MA1 is below Sig2_MA2.

Stop Loss

= Sig1_MA4

Strat2B_Sig2

Signal is triggered when the Price pops out of the dynamic S/R area in the direction of the trend, defined by the Sig2_MA1 and Sig2_MA2; and also the trend is considered weak according to the Sig1_MA3 and Sig1_MA4.

BUY

when Price crosses above Sig1_MA4; while Sig1_MA3 is below Sig1_MA4; and Sig2_MA1 is above Sig2_MA2.

SELL

when Price crosses below Sig1_MA4; while Sig1_MA3 is above Sig1_MA4; and Sig2_MA1 is below Sig2_MA2.

Stop Loss

= Sig1_MA3

Strat3A_Sig2

Signal is triggered when Sig2_MA1 crosses Sig2_MA2 in the direction of the trend, defined by the Sig2_MA2; while the Price is inside the dynamic S/R area, defined by Sig1_MA3 and Sig1_MA4; and also the trend is considered strong according to the Sig1_MA3 and Sig1_MA4.

BUY

when Sig2_MA1 crosses above Sig2_MA2; while Price is below Sig1_MA3 and above Sig1_MA4; and Sig1_MA3 is above Sig1_MA4.

SELL

when Sig2_MA1 crosses below Sig2_MA2; while Price is above Sig1_MA3 and below Sig1_MA4; and Sig1_MA3 is below Sig1_MA4.

Stop Loss

= Sig1_MA4

Strat3B_Sig2

Signal is triggered when Sig2_MA1 crosses Sig2_MA2 in the direction of the trend, defined by the Sig2_MA2; while the Price is inside the dynamic S/R area, defined by Sig1_MA3 and Sig1_MA4; and also the trend is considered weak according to the Sig1_MA3 and Sig1_MA4.

BUY

when Sig2_MA1 crosses above Sig2_MA2; while Price is below Sig1_MA4 and above Sig1_MA3; and Sig1_MA3 is below Sig1_MA4.

SELL

when Sig2_MA1 crosses below Sig2_MA2; while Price is above Sig1_MA4 and below Sig1_MA3; and Sig1_MA3 is above Sig1_MA4.

Stop Loss

= Sig1_MA3

CLOSE signals are triggered by the following strategies:

Close_Sig2A

Close LONG

when Price and Sig2_MA1 cross below Sig2_MA2.

Close SHORT

when Price and Sig2_MA1 cross above Sig2_MA2.

Close_Sig2B

Close LONG

when Price crosses below Sig2_MA2.

Close SHORT

when Price crosses above Sig2_MA2.

SIG3 INTERNAL INDICATOR

PARAMETERS

Sig3_AFStart

Acceleration Factor, typical range from 0.01 to 0.05

Sig3_AFMax

Max Acceleration Factor, typical range from 0.1 to 0.5

COMPONENTS

Sig3 indicator uses a trailing stop and reverse method to identify suitable exit points. It has a single component Sig3_Value calculated when raising or falling respectively as follows:

Sig3_Value = Prior Sig3_Value + [Prior AF (Prior EP – Prior Sig3_Value)]

or

Sig3_Value = Prior Sig3_Value – [Prior AF (Prior Sig3_Value – Prior EP)]

where

AF

= Acceleration Factor, it starts at Sig3_AFStart and increases by Sig3_AFStart, up to a maximum of Sig3_AFMax, each time the extreme point makes a new low (falling) or high(rising);

EP

= Extreme Point, the lowest low in the current downtrend (falling) or the highest high in the current uptrend (rising).

SIGNALS

CLOSE signals are generated based on Price crossing above/below the Sig3_Value also considering the fastest moving averages Sig1_MA1 and Sig2_MA1.

Close_Sig3A

Triggered when Price crosses on the opposite side of the Sig3_Value and the trends defined by Sig1_MA1 and Sig2_MA1.

Close LONG

when Price crosses below Sig3_Value, Sig1_MA1 and Sig2_MA1.

Close SHORT

when Price crosses above Sig3_Value, Sig1_MA1 and Sig2_MA1

SIG4 INTERNAL INDICATOR

PARAMETERS

Sig4_TPPeriod

period in bars, typical range: 5-15.

Sig4_TPELevel

extreme threshold level, typical range: 1-20.

COMPONENTS

Sig4 is a technical oscillator that uses price and volume data for identifying overbought or oversold signals in an asset. The single component Sig4_Value moves between 0 and 100, calculated as follows:

Sig4_Value = 100 – 100 / (1 + Ratio)

where

Ration = Sig4_TPPeriod Positive Flow / Sig4_TPPeriod Negative Flow

Raw Flow = Typical Price * Volume, positive or negative based on previous period

Typical Price = (High + Low + Close) / 3

SIGNALS

CLOSE signals are generated based on Sig4_Value moving into/within an extreme area.

Close_Sig4A

Close LONG

Sig4_Value crosses above (100 – Sig4_TPELevel).

Close SHORT

Sig4_Value crosses below Sig4_TPELevel.

Close_Sig4B

Close LONG

Sig4_Value crosses below previous period Sig4_Value while previous Sig4_Values is above (100 – Sig4_TPELevel).

Close SHORT

Sig4_Value crosses above previous period Sig4_Value while previous Sig4_Values is below Sig4_TPELevel.

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SIG5 INTERNAL INDICATOR

PARAMETERS

Sig5_VDPeriod

period in bars, typical range from 10 to 30 bars.

Sig5_VDVariance

standard variance, typical range from 1 to 5.

COMPONENTS

Sig5_MA

moving average

Sig5_UT

upper trendline, calculated as a deviation from the Sig5_MA as follows:

Sig5_UT = MA(TP,Sig5_VDPeriod) + Sig5_VDVariance∗σ[TP,Sig5_VDPeriod]

where:

MA = Moving average

TP = (High + Low + Close) / 3

σ[TP,Sig5_VDPeriod] = Standard Deviation over last Sig5_VDPeriod periods of TP

Sig5_LT

lower trendline, calculated as a deviation from the Sig5_MA as follows:

Sig5_LT = MA(TP,Sig5_VDPeriod) – Sig5_VDVariance∗σ[TP,Sig5_VDPeriod]

where:

MA = Moving average

TP = (High + Low + Close) / 3

σ[TP,Sig5_VDPeriod] = Standard Deviation over last Sig5_VDPeriod periods of TP

SIGNALS

CLOSE signals are generated on bar open based on the last two bars High/Low and Sig5_UT/Sig5_LT.

Close_Sig5A

Close LONG

when last High is below Sig5_UT while previous High was above Sig5_UT.

Close SHORT

when last Low is above Sig5_LT while previous Low was below Sig5_LT.

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POSITION SIZING & MONEY MANAGEMENT

Ultimate Pip Scalper uses advanced money management and lot size calculation logic. It calculates the lot size based on the configured risk percentage, defined at MM_RiskPercentage, and the internally detected stop loss, calculated on the fly by the internal indicators. The lot size amount is calculated in such a way, so that if the trade hits the stop loss, then the actual loss will be the defined MM_RiskPercentage from the account balance.

It is possible to further reduce the calculated lot size per strategy via the Strat*_PS_Prc, which stands for Position Size Percentage. This is a percentage of the position size, that has been already calculated via the above logic, to use for trades opened by the corresponding strategy.

There is also a more advanced possibility to adjust the already detected stop loss by the internal indicators via the Strat*_SL_MinPips and Strat*_SL_MaxPips per each strategy. Strat*_SL_MinPips will be used to override the detected stop loss if the detected stop loss was below the value defined in this input. Strat*_SL_MaxPips will be used to override the detected stop loss if the detected stop loss was above the value defined in this input.

By using the above inputs you can dial your position sizing according to your trading preferences.

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TAKE PROFIT, STOP LOSS & TRAILING STOP

TAKE PROFIT

Ultimate Pip Scalper uses a fixed user defined Take Profit value per strategy:

Strat*_TP_Points

value in Points to set the Take Profit of the trade to.

STOP LOSS

Ultimate Pip Scalper uses variable Stop Loss values for each OPEN strategy based on internal indicators. When OPEN signal is triggered, a Stop Loss value is immediately associated with the signal. For more information on the exact Stop Loss values per OPEN strategy, check out Sig1 and Sig2 OPEN signals documentation.

In addition, the Stop Loss can be controlled by the user per strategy with the following input parameters:

Strat*_SL_MinPoints

value in Points; will override the detected Stop Loss when it is closer than Strat*_SL_MinPoints points to the Price.

Strat*_SL_MaxPoints

value in Points; will override the detected Stop Loss when it is further than Strat*_SL_MaxPoints points from the Price.

STOP LOSS CONTROL

Ultimate Pip Scalper implements a signal filtering technique based on the calculated Stop Loss value. This approach ensures that the EA does not open positions when the calculated Stop Loss is too close or too far away from the current Price. These boundaries are controlled via the two input parameters per open strategy:

Strat*_SLC_MinPoints

value in Points; will not open trade if the Stop Loss is closer than Strat*_SLC_MinPoints points to the Price.

Strat*_SLC_MaxPoints

value in Points; will not open trade if the Stop Loss is further away than Strat*_SLC_MinPoints points from the Price.

TRAILING STOP

Ultimate Pip Scalper uses a simple trailing stop strategy based on Price (aka Trail) with the following parameters:

TStop_Points

value in Points; offset of the current Price to set the Stop Loss to.

TStop_Step

value in Points; minimal change in Price in the direction of the trade that will trigger Stop Loss update.

TStop_Above

value in Points; minimal profit on the trade before triggering Stol Loss update.

TRADING DAYS & HOURS

Ultimate Pip Scalper allows for fine control over the trading hours that can be defined for each day of the week. The following parameters are available for each day of the week, including weekends:

Trade_*

enable/disable trading on the particular day of the week

Trade_*_Start_Hour and Trade_*_Start_Minute

Trades will not take place before this time in the day.

Trade_*_End_Hour and Trade_*_End_Minute

Trades will not take place after this time in the day.

Trade_*_EOD_Close

Whether or not to close all open trades at the end of the trading day.

STRATEGY TESTING & OPTIMIZATIONS

Financial markets are very dynamic and momentum changes rapidly. Ultimate Pip Scalper provides you with a default configuration based on the recent market conditions for a set of selected Forex pairs and other assets, though you have to develop a process of periodic optimizations of the input parameters based on the ever-changing markets and the specific markets and assets that you may be using the expert advisor to trade on.

For every input parameter, we are providing you with a safe default value and also with the suggested range and step. You can use this information in the MetaTrader’s Strategy Tester mode with Optimization enabled.

Using the Strategy Tester is beyond the scope of this document. However, we strongly recommend optimizing your parameters regularly with your market conditions and broker data in order to achieve the best results.

IMPORTANT: Note that using the Strategy Tester with wrong and/or incomplete data will lead to wrong results.

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