DayScalp Advisor
DayScalp is an old development of domestic traders that dates back to 2010.
Despite the age of the expert, many traders still actively use it, since the algorithm that DayScalp uses is relevant to this day.
It is worth noting that all new developments of advisors are nothing more than clones of the forgotten old ones, and the basic algorithms remain the basis for the emergence of new modifications under a new brand. Consider the story of the sale of the Aladdin expert, which in fact was an old forgotten modified copy of Integra.
The DayScalp advisor, despite its name, is a regular martingale that builds a pyramid from pending orders with doubling the lot. The introduction of pending orders into the advisor allowed it to be made more autonomous, since in the event of a sudden Internet outage, the broker itself will open orders that were previously placed by the advisor.
Installing DayScalp in MT4
To install the Expert Advisor in your trading platform, first download the Expert Advisor file at the end of the article. Afterwards, you need to enter the MT4 root directory through the file menu of your platform. Place the file in a folder called Expert and update the components in the Navigator panel. Next, you need to select any pair you are interested in and drag the expert onto it. A settings window will appear in front of you:
DayScalp Settings
DayScalp developers tried to accommodate all possible settings as much as possible, which greatly simplifies further optimization of the Expert Advisor. In the Lots line, you must specify the initial lot with which the expert will start trading. It is worth noting that in the future, if the price goes against us, DayScalp will place pending orders with a double lot, so you need to be smart about setting the initial lot according to your deposit.
The MaxLots line specifies the size of the maximum last lot. This option should be approached from a mathematical point of view, and the parameter should be set in such a way that if the advisor opens the last 11th order, the size of his profit could cover a number of losses.
If this parameter is underestimated, you will get a negative balance curve. The advisor provides for the inclusion of a time filter, namely from what hour to what hour the expert is allowed to trade. To use it, in the timestsrt1 and timestsrt2 lines, indicate the trading start time, and in the timestop1 and timestop2 lines, indicate the trading end time. As you understand, during the time specified in timestop1 and before timestsrt1, the advisor will not trade.
The Profit line specifies the profit amount in points only for the first order. Stop Los is set only for the first order. DayScalp has the ability to limit risks depending on the drawdown of your account.
To do this, in Closeorders, click True, and in the Closeprocent line, indicate the drawdown percentage. Lines Level2...11 indicate the distance in points between pending orders, and lines Profit2...11 specify the profit for each of the 11 pending orders.
Backtesting
Despite the fact that the settings are clearly outdated and no longer suit modern conditions, we decided to conduct a test in the strategy tester on an hourly chart for the entire 2015 on the Euro/Dollar currency pair. Test result:
The chart shows quite strong drawdowns, which far exceed the amount of profit received. Over the course of a year, the advisor was able to bring in only 13 percent, and this despite the fact that the drawdown reached 30 percent. Testing under the same conditions on the EUR/CHF chart is shown in the picture below:
In general, the advisor remains profitable and, unlike most robots using martingale , did not lose the account for 2015. However, using DayScalp in this form without reoptimizing the settings is quite dangerous, since the size of the profit received is an order of magnitude smaller than the drawdown, which could lead to the loss of funds.