A latest version of XMT-Scalper has come in the market. This is version Version 2.4.1. I have checked it for when ECN Mode = TRUE and BUY/SELL orders have not yet been modified, to avoid running orders without SL. You need to wait for one second and then modify the order with a SL that is 3 pips from current price. You can change default settings after extensive back tests using 99% tick-data.
At present I am using XMT (2.2.6 and .7) with a forced SELL only option since I suppose that upper spikes are more likely to retrace in a down trend. There is a good thing all standard Indi that could be implemented into the code. If by user input one could choose to verify for a trend based on H1, H4, D1 or whatever and permit XMT to counter trade only spikes beside a bigger trend. I’m confident we all would see fewer losers – that’s what I’m having on my demo anyhow.
TP and SL are used to with passion with Order Modify command as often as essential as they are trailed. This is the proposal behind the plan in this EA. If they had preset values and never misused it would be a totally dissimilar strategy, and it would not create many money-making trades. The default settings are optimized, and should only be altered if you do widespread back tests, particularly if there are back tests for additional currency pairs.