Scalpel.mq4

Information

#property copyright "ryaz"
#property link      "outta@here"
http://codebase.mql4.com/6141
Description request by Ronald Prince
Ron is the american that used to live and work in China as a volunteer at orphanages.
I would like for you to review a EA I have. Check it for errors. It is mentioned on MT4 forum under scripts, EA's  website, do a search for "SCAlPEL" The author says to use it on GP Pairs 1 minute, please read all his notes. page 1 and 2 of questions he was asked. Please address the issue of " Wont work on some MT brokers.

Entry

Conditions for buy, vice versa for sell

• In TimeFrame H4, H1, M30, True when low price of current candle is lower than the previous one
• In current chart, Ask > High[1], means current Ask price > high price of previous candle
• In current chart, High[2]>High[1], and High[3]>High[2]. High[2] represent the high price of penultimate candle
• While cci: iCCI(0,0,cciPeriod,PRICE_MEDIAN,1), True when cci>0 and cci< cciLimit
• In TimeFrame M1, sum the volumes of {Volatility} to {Volatility}x2 Bars, limit by the absolute value of (Close price - Open price) > {Threshold}. Assign the sum as sum_up_1
• In TimeFrame M1, sum the volumes of current bar to {Volatility} Bars, limit by the absolute value of (Close price - Open price) > {Threshold}. Assign the sum as sum_up_0
• True while sum_up_0 > sum_down_0

Exit

• TakeProfit
• StopLoss
• TrailingStop
• {Live} as minutes to close the existing orders

Money Management

• Fixed Lots or Percentage of allowing open lots
• Lots = -5; //if Lots are negative means the percent of free margin used

Others

• Interval=0;//Minutes before adding a position (0=not used)
• Reduce=600;//Minutes before reducing TP by one pip (0=not used)
• FridayClose=22;//At what time to close all orders on Friday (0=not used)