Advanced Scalper V1.58 MT4
In theory, the EA can be applied to any low spread market that has good liquidity, though I recommend these currency-pairs in particular: EURUSD, USDJPY AND GBPUSD.
The EA can be used in 2 ways (at the moment):
- Fully automatic trading, using a High/Low breakout system for entry calculations. This mode can be run on any timeframe, but for more secure entry points, I recommend using H1 or H4.
- As a tool for manual trading strategies, where the trader can pick the entry points, or in combination with other EA’s for setting the entry points, and the Advanced Scalper EA will use its advanced exit-algorithms to follow up those trades.
In the future, new entry-strategies and/or exit-strategies might be added to the EA, but only if they pass my strict quality control.
Main Characteristics of the EA
- Strict use of stoploss on every trade
- very advanced SL-management
- spread filter to avoid trading during bad market conditions
- slippage control algorithm, to avoid bigger losses during heavy slippage
- fully automatic mode, with adjustable entries
- exit-strategy can be used on any manual trade(s) or on trades from other EA’s
- survives strict high quality backtests, with real variable spreads, commission and random slippage at 99% tickquality
- Proven live results on “high balance” accounts and with several different brokers.
- Recommended minimum balance for running full setup: 150$
It is recommended to use the EA on brokers with low spread, low commission and fast execution. Also a broker with STOPLEVEL=0 will work best (=minimum distance to put SL).
Most ECN Brokers have these qualities.