2011 - 2016 EA Happy Market Hours backtests for the supported currency pairs.
Based on scalping strategy, the EA uses identical 40 pips stop loss and take profit limits, producing a theoretic a 1:1 risk-reward-ratio. This risk-reward-ratio may fall to 2:1 in backtests or even lower in live trading as the EA Happy Market Hours tends to close positions regularly after the market positions before S/L and T/P limits are reached. However these limit values in the EA are excellent for a scalper.
The default maximum spread used by the EA is 5 pips, such a spread - especially with minor currency pairs - is unreachable by any broker even during the active European or American Sessions. During the wider spread Asian Session, this limit could be breached easier.
The older version of EA Happy Market Hours v1.1 has come with new modifications algorithm scalping strategy and settings updates after backtesting 99.90%
While the newer version of the EA v1.2 has added new setting parameters;
FFCal setting: A news filter that considers impact news releases, so that it prevents the EA from trading for a predetermined count of hours before or after a certain degree of this news release, low, medium or high.
TrailingStop: Permits the EA to protect the profits with your positions
While the next EA Happy Market Hours v1.3 came with newer setting parameters; fix News Filter and news currency filter, so the EA became capable of reading Excel report files (.cvs), as when the page "http://www.forexfactory.com/calendar.php" is offline for any reason, FFCal may not respond, now it's not required anymore, the news filter enables you to choose the currency that news should be filtered for (USD, EUR, GBP, JPY, AUD, CAD, CHF, NZD, CNY)
The EA provides a money management with the ability to edit the predetermined take profit and stop loss limits by the user, moreover, you can adjust the trading hours and trading activities can be limited on Fridays.
The next update of the EA v1.4 added new setting to prevent opening trades on Chart Days that are set to false by changing the trading hours as setting "Monday" for example to "true" or "false".
Then in v1.5 the following improvements were added:
Later on v1.6 release, CloseHour had a fix in addition to new improved settings indicators for all pairs.
News Filter setup was first added in v1.7 of the EA with show lines on chart:
Then in the final update of the EA v1.8, "FFCal Error - Web page download was not complete!" alarm had a fix.