Introduction
Running manual scalps on the EUR/USD M5 can feel like chasing ghosts—micro-moves vanish before you snag them. Enter CodedPips Grinder EA V1.0 MT5: a dedicated scalping robot engineered to hunt down tiny profit pockets with unwavering discipline. Whether you’re a busy professional or a trader glued to the screen, this EA automates your grind, executing trades in fractions of a second while you focus on higher-level strategy. Picture yourself grabbing 5–8 pips consistently, day in and day out, while the Grinder handles entry, exit, and risk. And best of all, it’s free to download from the MQL5 CodeBase or our official site—no upfront cost, no hidden fees.
Overview
CodedPips Grinder EA V1.0 MT5 is purpose-built for the EUR/USD pair on a five-minute timeframe. Instead of blanket strategies, it uses a dual-filter logic combining short-term trend detection with volatility spikes. First, a moving average envelope determines directional bias; then, a proprietary volatility oscillator spots entry points when price momentum aligns. The EA avoids random spikes by checking spread and pausing around high-impact news events. Exits are equally precise: fixed take-profit locks in small gains, while a dynamic trailing stop protects profits as markets shift. Designed for stability over flashy returns, the Grinder logs every trade and can run 24/5, so you never miss a London open or New York fade. The developer behind Grinder has over five years of MQL5 coding experience, ensuring reliable performance and timely support.
Key Features
- Dual-filter entry system with trend and volatility checks
- Fixed take-profit and stop-loss settings for predictable exits
- Dynamic trailing stop to maximize winners
- Spread and slippage filters to ensure clean execution
- News schedule integration to pause trading around major events
- No martingale or grid—pure single-position scalping
- Customizable risk-per-trade percentage
- Detailed trade logging for transparent performance review
Backtest Performance
In an extensive 12-month backtest from May 2023 through April 2024 on EUR/USD M5, CodedPips Grinder EA delivered an average monthly return of 4.8% with a maximum drawdown of 2.9%. Over 1,200 trades, the win rate held at 60%, and the profit factor reached 1.35—solid metrics for a micro-scalping strategy. To simulate real trading costs, spreads up to 1.5 pips and commissions of $0.02 per side were factored in. The EA intelligently paused trading five minutes before and after scheduled economic releases, preserving hard-earned gains. Equity distribution analysis shows that 80% of monthly profits occurred during the London open and New York close, validating the session filter logic. Out-of-sample testing on June–July 2024 data yielded similar results, confirming robustness. Traders can review detailed logs via the MQL5 marketplace page, including monthly performance charts, drawdown statistics, and individual trade reports. While no backtest guarantees future profits, these metrics illustrate the Grinder’s consistent, risk-adjusted edge.
Installation & Setup
- Download the
CodedPipsGrinderEA.ex5file from the official MQL5 CodeBase or our website. - Open MetaTrader 5 and select File → Open Data Folder → MQL5 → Experts.
- Paste the EA file into the
Expertsfolder. - Restart MT5 so it appears under Navigator → Expert Advisors.
- Attach the EA to a clean EUR/USD M5 chart—remove any pre-existing indicators or templates.
- In the EA’s Inputs tab, configure:
- Risk percentage per trade
- Spread limit (max 1.5 pips)
- Session start/end times
- News filter toggle
- Click OK; a panel will confirm “CodedPips Grinder EA v1.0” and connection status.
- If you encounter an “Allow AutoTrading” error, go to Tools → Options → Expert Advisors and enable Allow AutoTrading and Allow WebRequests to
https://www.mql5.com. - Backtest on a demo account first, then consider running on a VPS close to your broker for minimal latency.
Recommended Settings
For balanced performance, we suggest:
• Risk per trade: 1% of equity
• Take-Profit: 6 pips
• Stop-Loss: 5 pips
• Trailing Stop: 3 pips
• Max Spread: 1.5 pips
• Trading Hours: 01:00–22:00 server time
• News Filter: On
Adjust these values if your broker’s conditions differ; lower risk to 0.5% or widen SL to 7 pips if needed.
Risk Management
Effective risk management is central to scalping success. The EA enforces a strict stop-loss on every trade—no overriding. If account equity drawdown reaches 10%, trading halts automatically until you manually restart. Combine the Grinder with proper lot sizing and diversify across strategies to smooth overall performance. Use a VPS located close to your broker’s server to reduce latency and eliminate downtime. Avoid trading during flash crashes or black swan events. Always monitor your account and set equity drawdown alerts via your broker platform.
Why Choose CodedPips Grinder EA?
CodedPips Grinder EA V1.0 MT5 shines through transparency and community support. Unlike closed-source bots, you get full access to the MQL5 code and detailed documentation. Free updates are released monthly, covering new spread checks and volatility filters. The MQL5 forum hosts an active discussion thread—ideal for troubleshooting or sharing optimization tips. Whether you’re a seasoned EA user or a newcomer, you’ll appreciate the straightforward setup, clear logs, and responsive developer. Best of all, the Grinder is completely free, making it a low-risk addition to your trading toolbox.
Conclusion
In summary, CodedPips Grinder EA V1.0 MT5 offers a disciplined, transparent approach to EUR/USD M5 scalping. Its dual-filter logic, robust backtest record, and user-friendly setup make it an excellent choice for traders seeking steady micro-profits. Remember to test extensively on demo, fine-tune inputs based on your broker’s conditions, and practice sound risk management. Download your copy today, attach it to a EUR/USD M5 chart, and watch the Grinder hunt pips around the clock. For questions or to share your results, join our Telegram group.
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Happy Trading
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