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GBPJPY Expert Advisor MQL5: High-Volatility Scalping Strategy

Study a GBPJPY M5 Expert Advisor using RSI threshold crossings, an EMA quote filter and ATR-based initial and trailing stops. This example provides inspectable rules and risk-sizing mechanics. No verified trade count, backtest, daily range ranking or optimal parameter study supports this page.

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Strategy logic

Entry conditions

On a new M5 bar, request a buy when completed RSI 5 moves from below 30 to at least 30 and the current ask exceeds the completed EMA 20. A sell reverses this at 70 with bid below EMA. The optional weekday window is 07:00–22:00 broker-server time, not the London/New York overlap or a GMT/DST conversion. A spread cap of 30 broker points filters entries; it cannot prevent slippage or identify news events. Periods and thresholds are illustrative.

Exit conditions

Initial requested SL and TP are 1.5 and 3 times completed ATR from the entry quote. At each new M5 bar, matching positions are managed before session and spread entry filters: trailing activates at one current ATR in favor and requests a stop one ATR behind price, only tightening. There is no automatic 22:00 close, news calendar, pre-session pause or ATR-spike gate. Position size estimates a balance risk percentage and rounds down; stops, costs and fills can still exceed that estimate. Account-mode ownership and broker grids require testing.

MQL5 Expert Advisor Code

//+------------------------------------------------------------------+
//|  GBPJPY Scalping Expert Advisor for MetaTrader 5                 |
//|  Strategy: RSI (5) Crossover + 20 EMA Trend Filter               |
//|  + ATR (14) Risk Management on M5 Timeframe                      |
//|  DISCLAIMER: For educational purposes only. Past performance      |
//|  does not guarantee future results. Trade at your own risk.       |
//+------------------------------------------------------------------+
#property copyright "Pineify MQL5 Example"
#property version   "1.00"

//--- Input parameters
input int    RSI_Period         = 5;        // RSI period
input double RSI_Overbought     = 70.0;     // RSI overbought threshold
input double RSI_Oversold       = 30.0;     // RSI oversold threshold
input int    EMA_Period         = 20;       // EMA trend filter period
input int    ATR_Period         = 14;       // ATR period
input double RiskPercent        = 1.0;      // Risk per trade (% of balance)
input double SL_ATR_Mult        = 1.5;      // Stop loss ATR multiplier
input double TP_ATR_Mult        = 3.0;      // Take profit ATR multiplier
input double TrailATRMult       = 1.0;      // Trailing stop ATR activation
input double MaxSpreadPoints    = 30.0;     // Max allowed spread (points)
input bool   UseSessionFilter   = true;     // Limit new entries to 07-22 broker hours
input int    MagicNumber        = 20260617; // EA magic number
input string TradeComment       = "GBPJPY_Scalp"; // Trade comment

//--- Global indicator handles
int   hRSI = INVALID_HANDLE;
int   hEMA = INVALID_HANDLE;
int   hATR = INVALID_HANDLE;

//--- Trade object
#include <Trade/Trade.mqh>
CTrade trade;

//+------------------------------------------------------------------+
//| Expert initialization function                                   |
//+------------------------------------------------------------------+
int OnInit()
  {
   if(RSI_Period<1 || EMA_Period<1 || ATR_Period<1 || RSI_Oversold<0 || RSI_Overbought>100 ||
      RSI_Oversold>=RSI_Overbought || RiskPercent<=0 || SL_ATR_Mult<=0 || TP_ATR_Mult<=0 ||
      TrailATRMult<=0 || MaxSpreadPoints<0 || MagicNumber<0) return INIT_PARAMETERS_INCORRECT;
   //--- Validate symbol
   string sym = _Symbol;
   if(StringFind(sym, "GBPJPY") < 0 && StringFind(sym, "GBP/JPY") < 0)
      Print("Example labeled GBPJPY; inspect contract for ", sym);

   //--- Create indicator handles
   hRSI = iRSI(_Symbol, PERIOD_M5, RSI_Period, PRICE_CLOSE);
   hEMA = iMA(_Symbol, PERIOD_M5, EMA_Period, 0, MODE_EMA, PRICE_CLOSE);
   hATR = iATR(_Symbol, PERIOD_M5, ATR_Period);

   if(hRSI == INVALID_HANDLE || hEMA == INVALID_HANDLE || hATR == INVALID_HANDLE)
     {
      Print("Error: Failed to create indicator handles. Code: ", GetLastError());
      return INIT_FAILED;
     }

   //--- Configure trade object
   trade.SetExpertMagicNumber(MagicNumber);
   trade.SetDeviationInPoints(20);
   if(!trade.SetTypeFillingBySymbol(_Symbol)) return INIT_FAILED;

   Print("GBPJPY Scalping EA initialized. Magic: ", MagicNumber);
   return INIT_SUCCEEDED;
  }

//+------------------------------------------------------------------+
//| Expert deinitialization function                                 |
//+------------------------------------------------------------------+
void OnDeinit(const int reason)
  {
   if(hRSI != INVALID_HANDLE) IndicatorRelease(hRSI);
   if(hEMA != INVALID_HANDLE) IndicatorRelease(hEMA);
   if(hATR != INVALID_HANDLE) IndicatorRelease(hATR);
   Print("GBPJPY Scalping EA deinitialized. Reason: ", reason);
  }

//+------------------------------------------------------------------+
//| Helper: fetch a single indicator buffer value                     |
//+------------------------------------------------------------------+
double GetIndiValue(int handle, int shift = 0)
  {
   double buf[];
   ArraySetAsSeries(buf, true);
   if(CopyBuffer(handle, 0, shift, 1, buf) != 1) return EMPTY_VALUE;
   return buf[0];
  }

//+------------------------------------------------------------------+
//| Helper: count open positions for this EA's magic number          |
//+------------------------------------------------------------------+
int CountPositions()
  {
   int count = 0;
   for(int i = PositionsTotal() - 1; i >= 0; i--)
     {
      ulong ticket = PositionGetTicket(i);
      if(ticket == 0) continue;
      if(PositionGetString(POSITION_SYMBOL) == _Symbol &&
         PositionGetInteger(POSITION_MAGIC) == (long)MagicNumber)
         count++;
     }
   return count;
  }

//+------------------------------------------------------------------+
//| Helper: calculate lot size from risk percentage                  |
//+------------------------------------------------------------------+
double CalcLotSize(double slPoints)
  {
   if(slPoints <= 0) return 0;

   double tickVal  = SymbolInfoDouble(_Symbol, SYMBOL_TRADE_TICK_VALUE);
   double tickSize = SymbolInfoDouble(_Symbol, SYMBOL_TRADE_TICK_SIZE);
   double balance  = AccountInfoDouble(ACCOUNT_BALANCE);
   double riskAmt  = balance * RiskPercent / 100.0;
   double stepLot  = SymbolInfoDouble(_Symbol, SYMBOL_VOLUME_STEP);
   double minLot   = SymbolInfoDouble(_Symbol, SYMBOL_VOLUME_MIN);
   double maxLot   = SymbolInfoDouble(_Symbol, SYMBOL_VOLUME_MAX);

   if(tickSize<=0 || tickVal<=0 || stepLot<=0 || minLot<=0 || maxLot<minLot || riskAmt<=0) return 0;

   double lots = riskAmt / ((slPoints / tickSize) * tickVal);
   lots = NormalizeDouble(MathFloor(MathMin(lots,maxLot) / stepLot) * stepLot,8);
   return lots>=minLot ? lots : 0;
  }

//+------------------------------------------------------------------+
//| Helper: check if current server time is in active session        |
//+------------------------------------------------------------------+
bool IsSessionActive()
  {
   if(!UseSessionFilter) return true;

   MqlDateTime dt;
   if(!TimeToStruct(TimeCurrent(), dt)) return false;

   // Skip weekends
   if(dt.day_of_week == 0 || dt.day_of_week == 6) return false;

   int hour = dt.hour;
   // Illustrative server-time window; no timezone or DST conversion
   return (hour >= 7 && hour < 22);
  }

//+------------------------------------------------------------------+
//| Helper: check spread is within acceptable range                  |
//+------------------------------------------------------------------+
bool IsSpreadOK()
  {
   double spread = (double)SymbolInfoInteger(_Symbol, SYMBOL_SPREAD);
   return (spread <= MaxSpreadPoints);
  }

//+------------------------------------------------------------------+
//| Helper: manage trailing stop on open positions                   |
//+------------------------------------------------------------------+
void ManageTrailingStop(double atrValue)
  {
   double trailDist = TrailATRMult * atrValue;

   for(int i = PositionsTotal() - 1; i >= 0; i--)
     {
      ulong ticket = PositionGetTicket(i);
      if(ticket == 0) continue;
      if(!PositionSelectByTicket(ticket)) continue;
      if(PositionGetInteger(POSITION_MAGIC) != MagicNumber) continue;
      if(PositionGetString(POSITION_SYMBOL) != _Symbol) continue;

      double openPrice = PositionGetDouble(POSITION_PRICE_OPEN);
      double currentSL = PositionGetDouble(POSITION_SL);
      double currentTP = PositionGetDouble(POSITION_TP);
      long   posType   = PositionGetInteger(POSITION_TYPE);

      if(posType == POSITION_TYPE_BUY)
        {
         double bid = SymbolInfoDouble(_Symbol, SYMBOL_BID);
         if(bid < openPrice + trailDist) continue;
         double newSL = NormalizeDouble(bid - trailDist, _Digits);
         if(newSL > currentSL)
            if(!trade.PositionModify(ticket,newSL,currentTP) || trade.ResultRetcode()!=TRADE_RETCODE_DONE)
               Print("Trailing failed: ",trade.ResultRetcode()," ",trade.ResultRetcodeDescription());
        }
      else if(posType == POSITION_TYPE_SELL)
        {
         double ask = SymbolInfoDouble(_Symbol, SYMBOL_ASK);
         if(ask > openPrice - trailDist) continue;
         double newSL = NormalizeDouble(ask + trailDist, _Digits);
         if(currentSL == 0.0 || newSL < currentSL)
            if(!trade.PositionModify(ticket,newSL,currentTP) || trade.ResultRetcode()!=TRADE_RETCODE_DONE)
               Print("Trailing failed: ",trade.ResultRetcode()," ",trade.ResultRetcodeDescription());
        }
     }
  }

//+------------------------------------------------------------------+
//| Main tick handler                                                |
//+------------------------------------------------------------------+
void OnTick()
  {
   //--- New bar detection on M5 (only process once per bar)
   static datetime lastBarTime = 0;
   datetime currentBarTime = iTime(_Symbol, PERIOD_M5, 0);
   if(currentBarTime<=0 || currentBarTime == lastBarTime) return;

   //--- Fetch indicator values from the last completed bar (shift 1)
   double rsiCurr = GetIndiValue(hRSI, 1);
   double rsiPrev = GetIndiValue(hRSI, 2);
   double emaCurr = GetIndiValue(hEMA, 1);
   double atrCurr = GetIndiValue(hATR, 1);

   if(rsiCurr==EMPTY_VALUE || rsiPrev==EMPTY_VALUE || emaCurr==EMPTY_VALUE || atrCurr==EMPTY_VALUE || atrCurr<=0) return;
   lastBarTime=currentBarTime;

   //--- Manage trailing stops for existing positions
   if(CountPositions() > 0)
     {
      ManageTrailingStop(atrCurr);
      return;  // One trade at a time for this EA
     }

   if(!IsSessionActive() || !IsSpreadOK()) return;
   double ask = SymbolInfoDouble(_Symbol, SYMBOL_ASK);
   double bid = SymbolInfoDouble(_Symbol, SYMBOL_BID);

   //--- LONG entry: RSI crosses above 30 from below, price above EMA
   if(rsiPrev < RSI_Oversold && rsiCurr >= RSI_Oversold && ask > emaCurr)
     {
      double sl  = NormalizeDouble(ask - SL_ATR_Mult * atrCurr, _Digits);
      double tp  = NormalizeDouble(ask + TP_ATR_Mult * atrCurr, _Digits);
      double lots = CalcLotSize(ask - sl);

      if(lots > 0.0)
        {
         if(trade.Buy(lots, _Symbol, ask, sl, tp, TradeComment) &&
            (trade.ResultRetcode()==TRADE_RETCODE_DONE || trade.ResultRetcode()==TRADE_RETCODE_DONE_PARTIAL))
            Print("BUY placed | Lots: ", lots, " | SL: ", sl, " | TP: ", tp);
         else
            Print("BUY failed | Retcode: ", trade.ResultRetcode());
        }
     }

   //--- SHORT entry: RSI crosses below 70 from above, price below EMA
   if(rsiPrev > RSI_Overbought && rsiCurr <= RSI_Overbought && bid < emaCurr)
     {
      double sl  = NormalizeDouble(bid + SL_ATR_Mult * atrCurr, _Digits);
      double tp  = NormalizeDouble(bid - TP_ATR_Mult * atrCurr, _Digits);
      double lots = CalcLotSize(sl - bid);

      if(lots > 0.0)
        {
         if(trade.Sell(lots, _Symbol, bid, sl, tp, TradeComment) &&
            (trade.ResultRetcode()==TRADE_RETCODE_DONE || trade.ResultRetcode()==TRADE_RETCODE_DONE_PARTIAL))
            Print("SELL placed | Lots: ", lots, " | SL: ", sl, " | TP: ", tp);
         else
            Print("SELL failed | Retcode: ", trade.ResultRetcode());
        }
     }
  }
//+------------------------------------------------------------------+

Copy this code into MetaEditor, save it in the MQL5/Experts folder, and compile with F7.

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Frequently Asked Questions

Related MQL5 pages

Eurusd Scalping Ea→Gbpusd Expert Advisor→Mql5 Scalping Ea→Forex Scalping Ea→

Technical references

Risk and testing note

These educational examples require independent compilation and testing. A compile pass or an illustrative setting does not establish execution correctness or profitability. Any reported performance must be supported by reproducible data and test settings; past results do not predict future returns. Trading involves significant risk of loss. This content is not financial advice.