PipPumper MQL4 ForEx Expert Advisor
This little EA has a lot of potential. A very similar type of EA is currently making 10% per month. 
The Variables explained: 
Bothways : Default is True. True - this will set a buy order if the price plus the spacing is less than the lowest buy or higher than the highest buy. Same for the sells. False - this will set a buy order if the price plus the spacing is less than the lowest buy or a sell higher than the highest sell. 
MinTime : Default is 91 This is the amount of seconds that an order must be opened before it can be closed. This is to help in preventing "scalping". If your broker has no time limitation, then you can set this to 0. Velocity4x requires 91 seconds. 
Lots : Default is 0.1 Pretty self-explanatory. This is the initial lot size that is first placed. The default will depend on your account size, spacing and needs to be optimized to ensure you have a good setting. Use 0.01 for most everything. 
Increment : Default is 0 This is used two different ways and is used in conjunction with Multiplier. If you are not using Multiplier (Martingale), then the setting can be anything you want the next order to increase to. In most cases, the smallest lot size one can have is 0.01, if you set the increment to anything less than 0.01 then it will take more than one order to increment to the next step. For example, 0.005 Increment will set the second order to 0.015 however, this will be rounded to 0.02, then the next order will be 0.02 and so on... If you use 0 for the setting then the subsequent orders will each be the Lots size. If you are using Multiplier, then you must have an Increment larger than 1. I have used as low as 1.01 to as high as 5.0... This is further explained in the next variable. Optimization is necessary to determine the best Increment. 
Multiplier : Default is False. This is used to determine the way in which the lotsize is incremented. When it is set to false, the Increment is stepped gradually. When it is set to true, the Increment is stepped exponentially. Using Multiplier, in effect, makes this a Martingale type system. Conservative: Default is false This was originally used before the advent of the profit routines now in play. How it works is, for each buy or sell order that is placed, the profit target is reduced by XX%. This way, the more orders you have open, the less profit is looked for, the quicker the orders are closed and everything is started over. 
ProfitReducer : This is used in conjunction with the Conservative setting. This is what the ProfitTarget is reduced by. 
ProfitTarget : Default is 50 This is a dollar amount that you determine through optimization. 
Spacing : Default is 10. This is the minimum distance set between orders. Once again, optimization is recommended. EndTrading: Default is false This is used to stop trading once all the orders are cleared. The only problem is with the backtester and every once in awhile, the losing buys (or sells) close out before they are supposed too. According to the coding, there should only be one losing order closed at any one time.