Conservative Scalper EA — MT4

A disciplined, rule-based MT4 Expert Advisor for conservative intraday scalping on major FX pairs. Capital preservation is the top priority. No martingale, no grid, no averaging into losers.

---

Strategy Overview

Layer	Logic
Bias filter	M15 EMA 50 vs EMA 200 — long bias when fast > slow (and rising), short bias when fast < slow (and falling)
Execution filter	M5 EMA 20 — price must be above EMA for longs, below for shorts
Momentum trigger	RSI 14 crosses above 50 (long) or below 50 (short)
Entry confirm	Current bar closes above prior bar high (long) or below prior bar low (short)
Trade filters	Spread cap, ATR minimum, session hours, day-of-week, rollover block, one trade per symbol, total open risk cap

---

Risk Management

• Fixed-fractional sizing: risk a set % of equity per trade (default 0.25%)
• Hard stop loss + hard take profit on every trade
• No martingale, no grid, no averaging
• Break-even logic (optional, default on)
• Trailing stop (optional, default off)
• Time-based exit for stalled trades (default 20 min)
• Session-end close option

Daily Guardrails

Limit	Default
Max trades per day	6
Max daily loss	1.5%
Max consecutive losses	3 (pause)
Max equity drawdown (hard stop)	8%
Max total open risk	1.0%

---

Recommended Settings

EURUSD M5

BiasTimeframe     = M15
BiasFastEMA       = 50
BiasSlowEMA       = 200
ExecEMA_Period    = 20
RSI_Period        = 14
ATR_Period        = 14
MinATR_Pips       = 3.0
MaxSpreadPips     = 1.5
StopLossMode      = 1   (ATR)
StopLossATRMult   = 1.2
TakeProfitMode    = 1   (ATR)
TakeProfitATRMult = 1.2
RiskPercent       = 0.50
MaxDrawdownPercent= 20.0
MaxDailyLossPercent = 2.0
SessionStartHour  = 8
SessionEndHour    = 17
UseBreakEven      = true
BreakEvenTriggerR = 0.8
UseTimeExit       = true
MaxTradeMinutes   = 20
AllowFriday       = false

GBPUSD M5

BiasTimeframe     = M15
BiasFastEMA       = 50
BiasSlowEMA       = 200
ExecEMA_Period    = 20
RSI_Period        = 14
ATR_Period        = 14
MinATR_Pips       = 4.0
MaxSpreadPips     = 2.0
StopLossMode      = 1   (ATR)
StopLossATRMult   = 1.4
TakeProfitMode    = 1   (ATR)
TakeProfitATRMult = 1.4
RiskPercent       = 0.50
MaxDrawdownPercent= 20.0
MaxDailyLossPercent = 2.0
SessionStartHour  = 8
SessionEndHour    = 17
UseBreakEven      = true
BreakEvenTriggerR = 0.8
UseTimeExit       = true
MaxTradeMinutes   = 25
AllowFriday       = false

GBPUSD is more volatile — slightly wider ATR multipliers and longer time exit are recommended.

USDJPY M5 — increase MaxSpreadPips to 2.0, MinATR_Pips to 4.0

---

Performance Targets

Metric	Target
Win rate	55–60%
Reward : Risk	1.0 to 1.2
Profit factor	1.3 to 1.6
Max drawdown	< 20% (hard cutoff)
Monthly return	4–8% at 0.5% risk/trade

Note: No EA can guarantee profits. These are design targets for a conservative system tested across varied market conditions. Past backtest results do not guarantee future performance.

---

Broker Requirements

• MT4 platform (build 600+)
• Low spread on EURUSD: ideally < 1.0 pip raw/ECN spread
• Fast execution (STP/ECN preferred over dealing desk)
• Supports 4-digit or 5-digit pricing — EA handles both automatically
• NFA/FIFO compliant brokers supported (one trade per symbol mode)

---

Installation

1. Copy ConservativeScalper.mq4 to your MT4 MQL4/Experts/ folder
2. Open MetaEditor → compile → confirm no errors
3. Attach to an M5 EURUSD (or other pair) chart
4. Enable Allow automated trading and Allow DLL imports if required
5. Set MagicNumber to a unique value if running multiple instances

---

Backtesting

• Use Strategy Tester in MT4
• Select Every tick model for best accuracy
• Enable Use date to limit range
• Start with default inputs, then optimize in small increments
• Validate on out-of-sample period before going live

Key metrics to review: profit factor, max drawdown, trade count, expectancy, average trade duration.

---

Risks & Limitations

• Scalping EAs are sensitive to spread and execution quality — results vary by broker
• Strategy may underperform in strong trending or choppy, ranging markets
• Requires a stable VPS for 24/5 operation
• Backtest quality depends on tick data quality; prefer 99% modelling quality data
• RSI + EMA signals can produce false positives in low-volume periods
• No news filter is built in — manually disable the EA before high-impact news events using the AllowNewTrades = false input

---

Input Reference

Input	Default	Description
MagicNumber	20260409	Unique order identifier
TradeComment	CScalp	Order comment
EnableLong	true	Allow buy trades
EnableShort	true	Allow sell trades
OneTradePerSymbol	true	Prevent stacking
AllowNewTrades	true	Master on/off
SessionStartHour	8	Server hour to start
SessionEndHour	17	Server hour to stop
AllowFriday	false	Skip thin Friday close
RolloverBlockBefore	30	Mins before 00:00 server
RolloverBlockAfter	30	Mins after 00:00 server
BiasTimeframe	M15	Trend filter TF
BiasFastEMA	50	Trend fast EMA
BiasSlowEMA	200	Trend slow EMA
ExecEMA_Period	20	Local direction EMA
RSI_Period	14	RSI period
MinATR_Pips	3.0	Min ATR — skip dead market
MaxSpreadPips	1.5	Max allowed spread
MaxSlippagePts	3	Max allowed slippage
LotSizingMode	1	0=Fixed 1=Risk%
RiskPercent	0.25	% equity per trade
StopLossMode	1	0=Pips 1=ATR mult
StopLossATRMult	1.2	ATR multiplier for SL
TakeProfitATRMult	1.2	ATR multiplier for TP
UseBreakEven	true	Enable BE logic
BreakEvenTriggerR	0.8	Move BE after 0.8R
UseTrailingStop	false	Enable trail
UseTimeExit	true	Close stalled trades
MaxTradeMinutes	20	Max trade duration
CloseAtSessionEnd	true	Close at session end
MaxTradesPerDay	6	Daily trade cap
MaxDailyLossPercent	1.5	Daily loss cap %
MaxConsecutiveLosses	3	Consecutive loss pause
MaxDrawdownPercent	8.0	Hard stop equity DD %

---

License

MIT — free to use and modify. No warranty expressed or implied.