Advanced Scalper is a fully customizable EA, so you can fine-tune it to suit your trading needs. It also provides many set-up possibilities. But if you want to work with the vendor’s recommended settings, you can visit the comments page on MQL5 to get more info.
What is Advanced Scalper?
The main characteristics of this EA are listed below:
- It mainly trades on three main currency pairs: EURUSD, USDJPY, and GBPUSD.
- The EA strictly uses a stop loss on each trade.
- It includes a very advanced SL-management and adjustable entries.
- The recommended minimum balance for running a full setup is $150.
- It comes with a spread filter to prevent it from trading during bad market conditions.
- The system has a slippage control algorithm to avoid suffering losses during heavy slippage.
- It is recommended you utilize the system on brokers with fast execution, low spread, and low commissions.
Official Advanced Scalper website
This robot is presented on MQL5. The sales pitch is divided into several sections. We have the ‘overview’ page that gives a general description of the bot. Here, you will find info on its characteristics, trading strategies, and the past and live trading results. A ‘customer reviews’ section is also present, and it includes traders’ opinions about the EA’s performance. The presentation also features the system’s updates, the vendor’s profile, and publication details.
Wim Schrynemakers is the creator of this Forex robot. He is based in Malta and is part of the Profalgo Limited Company. Wim has been developing EAs since 2005, so he believes he is an expert in this market. He ensures that the products are able to control risks and produce a good risk/reward ratio while creating them.
How can we use Advanced Scalper?
Traders can hand over their trading to this expert advisor. Therefore, rather than spending a large portion of your time monitoring and analyzing the market and placing trades, you can let this system do that for you.
Pricing and refund
Advanced Scalper has 5 distinct packages. To get a lifetime license, you need to pay $399. The 1-month, 3-months, 6-months, and 1-year renting options cost $149, $199, $249, and $299, respectively.
This Forex robot works with several strategies. For instance, it uses a high/low breakout system to calculate entry points. You can run this mode on any timeframe, but the vendor recommends that you use the H1 or H4 timeframe to get safer entry points.
A different strategy is used for exit points. As such, the developer has incorporated advanced exit algorithms and spread-filter and slippage-control algorithms to identify exit points. The EA’s manual features allows traders to pick the entry points or work with other systems to set the entry points, and Advanced Scalper will use its exit algorithms to follow up those trades.
The EA was backtested using 2014-2017 historical data on the H1 chart. Working with a $1000 deposit and 0.01 fixed lot sizes, it managed to conduct 624 trades. As a consequence, 74.20% of the orders were profitable. This translated to a total net profit of $116.12. A maximum drawdown of 0.10% was made, a sign that the robot traded with minimal risks.
As you can see above, the robot has been handling a heavily funded live account since January 2016. The deposit is €16978.39, and it has been used to generate a big profit of €50897. Over the years, the account has grown by 904.34%, which is a good sign. The drawdown (31.21%) is quite high, which tells us that losses made have increased substantially.
Based on 6717 trades implemented, it is apparent that Advanced Scalper is a high-frequent trader. The success rates for long and short positions so far are 75% and 74%, respectively. A profit factor of 1.21 is reported.
The EA works with varied lot sizes and small timeframes. Different SL and TP levels are also included in every trade.
What customers say
Advanced Scalper has received hundreds of reviews on MQL5. While some traders claim that the robot has helped them to make substantial profits, others suggest that it makes bad trades and hence incurs losses.
Summary: is Advanced Scalper a trustworthy service?Advanced Scalper
Trading results4/5 Good
- Live trading stats are available
- Backtest results
- Complaints from some customers
- Uses large lot sizes
- High drawdown