Complete .mq5 source code
USDJPY Scalping EA MQL5: Low-Spread Intraday Momentum Strategy
A complete educational M5 Expert Advisor combining Bollinger Bands, Stochastic and EMA conditions on a broker-provided USDJPY symbol. It uses fixed lots, point-based SL/TP, tick-handler trailing and a broker-time entry window. No verified backtest, January 2026 demo diary or pair-performance ranking is supplied.
Strategy logic
Entry conditions
The last completed M5 close must be at or below the lower Bollinger band for a buy, with Stochastic main above signal and above 20, and close above EMA. A sell uses close at or above the upper band, main below signal and below 80, and close below EMA. These are level conditions, not a Stochastic threshold crossover or intrabar wick touch. Entry is evaluated once per ready M5 bar, with a spread gate and one matching-position limit.
Exit conditions
The defaults request 80-point SL and 100-point TP; on a three-digit USDJPY quote those commonly correspond to 8 and 10 pips, but broker units must be checked. Trailing activates at 60 points of favorable movement with a 40-point gap. It runs on processed ticks within the window. Outside the broker-time window, matching positions receive repeated close requests independently of the entry spread gate. Gaps, disconnection and rejected execution can defeat an intended cutoff.
MQL5 Expert Advisor Code
//+------------------------------------------------------------------+
//| USDJPY Scalping EA - MQL5 |
//| Triple-Filter: BB + Stochastic + EMA Mean Reversion |
//| Pineify.app |
//+------------------------------------------------------------------+
#property copyright "Pineify.app"
#property version "1.00"
#property description "USDJPY Scalping EA with Bollinger Bands + Stochastic + EMA"
#property description "Trades mean reversion scalps on M5 inside a broker-time window"
#property description "For educational purposes only. Trade at your own risk."
#include <Trade/Trade.mqh>
CTrade trade;
//--- Input Parameters
input group "=== Strategy Parameters ==="
input int BB_Period = 20; // Bollinger Bands period
input double BB_Deviation = 2.0; // Bollinger Bands deviation
input int Stoch_K = 5; // Stochastic %K period
input int Stoch_D = 3; // Stochastic %D period
input int Stoch_Slowing = 3; // Stochastic slowing
input int EMA_Period = 50; // Trend filter EMA
input group "=== Trade Settings ==="
input ulong MagicNumber = 123456;
input double LotSize = 0.01;
input int SL_Points = 80; // Stop loss in points (8 pips)
input int TP_Points = 100; // Take profit in points (10 pips)
input int TrailActivate = 60; // Activate trailing at points profit
input int TrailDistance = 40; // Trailing stop distance in points
input int MaxSpreadPoints = 30; // Max allowed spread in points
input group "=== Session Filter ==="
input int SessionStart = 12; // Broker-time session start hour
input int SessionEnd = 16; // Broker-time session end hour
//--- Indicator handles
int hBB=INVALID_HANDLE,hStoch=INVALID_HANDLE,hEMA=INVALID_HANDLE;
//--- Indicator buffers
double bbUpper[], bbLower[];
double stochMain[], stochSignal[];
double emaLine[];
//+------------------------------------------------------------------+
//| Expert initialization function |
//+------------------------------------------------------------------+
int OnInit()
{
if(BB_Period<2 || BB_Deviation<=0 || Stoch_K<1 || Stoch_D<1 || Stoch_Slowing<1 || EMA_Period<1 || LotSize<=0 || SL_Points<=0 || TP_Points<=0 || TrailActivate<0 || TrailDistance<=0 || MaxSpreadPoints<0 || SessionStart<0 || SessionEnd>24 || SessionStart>=SessionEnd) return INIT_PARAMETERS_INCORRECT;
trade.SetAsyncMode(false);
trade.SetTypeFillingBySymbol(_Symbol);
trade.SetExpertMagicNumber(MagicNumber);
hBB = iBands(_Symbol, PERIOD_M5, BB_Period, 0, BB_Deviation, PRICE_CLOSE);
hStoch = iStochastic(_Symbol, PERIOD_M5, Stoch_K, Stoch_D, Stoch_Slowing, MODE_SMA, STO_CLOSECLOSE);
hEMA = iMA(_Symbol, PERIOD_M5, EMA_Period, 0, MODE_EMA, PRICE_CLOSE);
if(hBB == INVALID_HANDLE || hStoch == INVALID_HANDLE ||
hEMA == INVALID_HANDLE)
{
Print("ERROR: Failed to create indicator handles. EA will not trade.");
return INIT_FAILED;
}
ArraySetAsSeries(bbUpper, true);
ArraySetAsSeries(bbLower, true);
ArraySetAsSeries(stochMain, true);
ArraySetAsSeries(stochSignal, true);
ArraySetAsSeries(emaLine, true);
Print("USDJPY Scalping EA initialized. Magic=", MagicNumber, " Lots=", LotSize);
return INIT_SUCCEEDED;
}
//+------------------------------------------------------------------+
//| Expert deinitialization function |
//+------------------------------------------------------------------+
void OnDeinit(const int reason)
{
if(hBB!=INVALID_HANDLE) IndicatorRelease(hBB);
if(hStoch!=INVALID_HANDLE) IndicatorRelease(hStoch);
if(hEMA!=INVALID_HANDLE) IndicatorRelease(hEMA);
Print("USDJPY Scalping EA deinitialized. Reason=", reason);
}
//+------------------------------------------------------------------+
//| Calculate current spread in points |
//+------------------------------------------------------------------+
double GetSpreadPoints()
{
return (SymbolInfoDouble(_Symbol, SYMBOL_ASK) -
SymbolInfoDouble(_Symbol, SYMBOL_BID)) / _Point;
}
//+------------------------------------------------------------------+
//| Detect new bar on M5 timeframe |
//+------------------------------------------------------------------+
//+------------------------------------------------------------------+
//| Count open positions for this EA |
//+------------------------------------------------------------------+
int CountPositions()
{
int count = 0;
for(int i = PositionsTotal() - 1; i >= 0; i--)
{
ulong ticket = PositionGetTicket(i);
if(ticket == 0) continue;
if(!PositionSelectByTicket(ticket)) continue;
if(PositionGetString(POSITION_SYMBOL) == _Symbol &&
PositionGetInteger(POSITION_MAGIC) == (long)MagicNumber)
count++;
}
return count;
}
//+------------------------------------------------------------------+
//| Close all positions for this symbol and magic number |
//+------------------------------------------------------------------+
void CloseAll()
{
for(int i = PositionsTotal() - 1; i >= 0; i--)
{
ulong ticket = PositionGetTicket(i);
if(ticket == 0) continue;
if(!PositionSelectByTicket(ticket)) continue;
if(PositionGetString(POSITION_SYMBOL) != _Symbol) continue;
if(PositionGetInteger(POSITION_MAGIC) != (long)MagicNumber) continue;
if(!trade.PositionClose(ticket) || trade.ResultRetcode()!=TRADE_RETCODE_DONE) Print("Close failed: ",trade.ResultRetcodeDescription());
}
}
//+------------------------------------------------------------------+
//| Manage trailing stops for open positions |
//+------------------------------------------------------------------+
void ManageTrailing()
{
double trailPts = TrailDistance * _Point;
double activatePts = TrailActivate * _Point;
for(int i = PositionsTotal() - 1; i >= 0; i--)
{
ulong ticket = PositionGetTicket(i);
if(ticket == 0) continue;
if(!PositionSelectByTicket(ticket)) continue;
if(PositionGetString(POSITION_SYMBOL) != _Symbol) continue;
if(PositionGetInteger(POSITION_MAGIC) != (long)MagicNumber) continue;
double openPrice = PositionGetDouble(POSITION_PRICE_OPEN);
double currentSL = PositionGetDouble(POSITION_SL);
double tp = PositionGetDouble(POSITION_TP);
ENUM_POSITION_TYPE pType = (ENUM_POSITION_TYPE)PositionGetInteger(POSITION_TYPE);
double bid = SymbolInfoDouble(_Symbol, SYMBOL_BID);
double ask = SymbolInfoDouble(_Symbol, SYMBOL_ASK);
double newSL = currentSL;
if(pType == POSITION_TYPE_BUY)
{
double profit = bid - openPrice;
if(profit >= activatePts)
{
newSL = bid - trailPts;
if(newSL > currentSL)
{ if(!trade.PositionModify(ticket,NormalizeDouble(newSL,_Digits),tp) || trade.ResultRetcode()!=TRADE_RETCODE_DONE) Print("Trail failed: ",trade.ResultRetcodeDescription()); }
}
}
else if(pType == POSITION_TYPE_SELL)
{
double profit = openPrice - ask;
if(profit >= activatePts)
{
newSL = ask + trailPts;
if(currentSL == 0 || newSL < currentSL)
{ if(!trade.PositionModify(ticket,NormalizeDouble(newSL,_Digits),tp) || trade.ResultRetcode()!=TRADE_RETCODE_DONE) Print("Trail failed: ",trade.ResultRetcodeDescription()); }
}
}
}
}
//+------------------------------------------------------------------+
//| Main tick handler |
//+------------------------------------------------------------------+
void OnTick()
{
MqlDateTime dt; if(!TimeToStruct(TimeCurrent(),dt)) return;
// Exit management is independent of entry spread and runs outside the window too.
if(dt.hour<SessionStart || dt.hour>=SessionEnd) { CloseAll(); return; }
ManageTrailing();
if(GetSpreadPoints()>MaxSpreadPoints) return;
static datetime lastBar=0;
datetime currentBar=iTime(_Symbol,PERIOD_M5,0);
if(currentBar==0 || currentBar==lastBar) return;
//--- 5. Read indicator buffers (shift 1 = last completed bar)
if(CopyBuffer(hBB, 1, 1, 2, bbUpper) < 2) return;
if(CopyBuffer(hBB, 2, 1, 2, bbLower) < 2) return;
if(CopyBuffer(hStoch, 0, 1, 2, stochMain) < 2) return;
if(CopyBuffer(hStoch, 1, 1, 2, stochSignal) < 2) return;
if(CopyBuffer(hEMA, 0, 1, 2, emaLine) < 2) return;
//--- 6. Skip entry if already in a position
if(CountPositions() > 0)
return;
//--- 7. Reference prices from completed bar
double close1 = iClose(_Symbol, PERIOD_M5, 1);
double ask = SymbolInfoDouble(_Symbol, SYMBOL_ASK);
double bid = SymbolInfoDouble(_Symbol, SYMBOL_BID);
if(close1<=0 || ask<=0 || bid<=0) return;
lastBar=currentBar;
//--- 8. LONG ENTRY CONDITIONS
// Condition A: Close at or below lower Bollinger Band
bool bbLong = (close1 <= bbLower[0]);
// Condition B: Stochastic main above signal and above 20 (bullish momentum)
bool stochLong = (stochMain[0] > stochSignal[0] && stochMain[0] > 20.0);
// Condition C: Price above 50 EMA confirming uptrend
bool trendLong = (close1 > emaLine[0]);
if(bbLong && stochLong && trendLong)
{
double sl = NormalizeDouble(ask - SL_Points * _Point,_Digits);
double tp = NormalizeDouble(ask + TP_Points * _Point,_Digits);
if(trade.Buy(LotSize, _Symbol, ask, sl, tp, "USDJPY Scalper") && trade.ResultRetcode()==TRADE_RETCODE_DONE)
{
Print("BUY entry | Ask=", ask, " SL=", sl, " TP=", tp,
" Spread=", GetSpreadPoints());
}
else Print("Entry not fully completed: ",trade.ResultRetcodeDescription());
return;
}
//--- 9. SHORT ENTRY CONDITIONS
// Condition A: Close at or above upper Bollinger Band
bool bbShort = (close1 >= bbUpper[0]);
// Condition B: Stochastic main below signal and below 80 (bearish momentum)
bool stochShort = (stochMain[0] < stochSignal[0] && stochMain[0] < 80.0);
// Condition C: Price below 50 EMA confirming downtrend
bool trendShort = (close1 < emaLine[0]);
if(bbShort && stochShort && trendShort)
{
double sl = NormalizeDouble(bid + SL_Points * _Point,_Digits);
double tp = NormalizeDouble(bid - TP_Points * _Point,_Digits);
if(trade.Sell(LotSize, _Symbol, bid, sl, tp, "USDJPY Scalper") && trade.ResultRetcode()==TRADE_RETCODE_DONE)
{
Print("SELL entry | Bid=", bid, " SL=", sl, " TP=", tp,
" Spread=", GetSpreadPoints());
}
else Print("Entry not fully completed: ",trade.ResultRetcodeDescription());
}
}
//+------------------------------------------------------------------+Copy this code into MetaEditor, save it in the MQL5/Experts folder, and compile with F7.
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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.