Blaq Slug Scalper EA is a breakout-based Expert Advisor designed for trading GBPUSD H1, with configurable support for other pairs. It operates on hourly timeframes and captures strong breakout moves from predefined daily price ranges, forming a dynamic “box” each trading day.

The EA tracks price action within a morning range and places Buy Stop and Sell Stop orders once the box closes and conditions are met. It includes smart trade management features like recovery-based lot sizing, break-even adjustments for additional trades, and a trailing stop system for profit protection.

Strategy Overview

• Symbols: GBPUSD H1 (recommended)
• Timeframe: H1
• Entry Method: Time-based breakout using pending Buy/Sell Stop orders above/below daily range
• Exit Logic: Trailing stop, break-even for add-on trades, and manual or time-based close
• Trading Style: Breakout + recovery lot scaling (optional), one-direction trades per breakout

RECOMMENDATIONS

• Always test on demo or small accounts before full deployment.
• Use a VPS for low-latency execution.
• A Raw Spread or ECN account with very low spreads is strongly recommended for optimal performance.
• Low spread trading conditions may significantly improve execution and overall results.
• Recommended Timeframe: H1.
• Recommended Pair: GBPUSD.
• Recommended minimum deposit: $100 for low-risk trading conditions

FEATURES

• Automated breakout trading system with dynamic daily box formation.
• Configurable recovery lot multiplier to manage losing trades.
• Break-even adjustments for additional trades after adverse moves.
• Trailing stop with adjustable start, distance, and step points.
• Supports hedge and netting accounts.
• No averaging or martingale unless recovery multiplier is used.

INPUT SETTINGS (Defaults Recommended)

EA Information

• Recommended symbol and timeframe: Displays the recommended trading symbol and timeframe (default: GBPUSD H1).

General Settings

• Unique EA trade identifier: Unique identifier used by the EA to manage its own trades.
• Starting lot size: Initial trade lot size used for the first position.
• Maximum allowed lot size: Maximum lot size the EA is allowed to reach during recovery cycles.
• Lot multiplier after loss: Multiplier applied to the lot size after a losing trade.
• Maximum recovery trades: Maximum number of recovery trades allowed in a recovery cycle.

Order Split Settings

• Maximum EA pending orders allowed at once: Limits how many pending breakout orders the EA can place simultaneously.
• Split each breakout order: Allows the EA to divide a breakout entry into multiple smaller orders for more flexible execution and scaling.

Risk Management

• Lot sizing method: Selects the lot sizing model used by the EA (Fixed Lot or percentage-based risk profiles).
• Risk % for very low profile: Risk percentage applied when the Very Low risk profile is selected.
• Risk % for low profile: Risk percentage applied when the Low risk profile is selected.
• Risk % for medium profile: Risk percentage applied when the Medium risk profile is selected.
• Risk % for high profile: Risk percentage applied when the High risk profile is selected.
• Risk % for very high profile: Risk percentage applied when the Very High risk profile is selected.
• Freeze risk equity at high-water mark: Locks the risk calculation to the highest recorded equity level for high-risk profiles to help prevent aggressive lot increases after drawdowns.
• High risk exponential factor: Adjusts how aggressively lot size increases when using the High risk profile.
• Very high risk exponential factor: Controls the exponential growth curve for the Very High risk profile.

Trading Session

• Range start hour: Hour when the price range box begins forming.
• Range end hour: Hour when the range box stops forming.
• Range end minute: Minute when the range box closes.
• Allow trading on Friday: Allows or disables trading on Fridays.

Entry Settings

• Pending order distance from range: Distance in points added above/below the range before placing breakout pending orders.
• Stop loss distance (points): Stop loss distance from entry price in points.
• Take profit distance (points): Take profit distance from entry price in points.

Trade Management

• Distance before adding recovery trade: Distance price must move against the base trade before opening an additional trade.
• Apply break-even after add trade: Enables break-even logic for the additional recovery trade.
• Break-even level 1 trigger: Profit level where the first break-even adjustment is triggered.
• Break-even level 1 offset: Stop loss offset applied when break-even level 1 activates.
• Break-even level 2 trigger: Profit level where the second break-even adjustment activates.
• Break-even level 2 offset: Stop loss offset applied when break-even level 2 activates.

Trailing Stop

• Enable trailing stop: Enables or disables the trailing stop system.
• Profit before trailing starts: Profit level in points where trailing stop begins.
• Trailing stop distance: Distance between the current price and trailing stop level.
• Trailing adjustment step: Minimum movement required before the trailing stop updates.

IMPORTANT: Settings are based on GMT +2 time zone

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