The 555 Scalper Metatrader 4 Forex Robot is an automated currency trading solution that uses two 5-period exponential moving averages to generate buy and sell market entry signals that are implemented by design.
The lower period exponential moving average are known to react more significantly to price changes, as such it is suited for scalping purposes in line with the numerous signals that are triggered.
The 555 Scalper forex trading robot is better suited for trending and fast-moving markets.
Seemingly, due to the type of trading technique that is being adopted by the 555 Scalper expert advisor i.e. scalping, it should be activated on high volume forex pairs like the EUR/USD, GBP/USD, USD/CHF, etc.
It is important to experiment with the varying input values on the 555 Scalper EA to further enhance trading results.
Strategy Tester Report
Find below the 555 Scalper robot strategy tester report for the EUR/USD forex pair on the 5-minutes chart.
The EA made a total profit of $950.16 from a total of 183 trades. The largest winning trade generated $69.79 in profits while the largest losing trade generated a loss of-$117.51.
Bars in test: 35894 ticks modelled
Initial deposit: $50000.00
Total net profit: $950.16
Total trades: 183
Largest profit trade: $69.79
Largest loss trade: -$117.51
Consecutive wins: 12
Consecutive losses: 1
MT4 Forex Robot Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Expert advisor
Input Parameters: Enable “no loss,” When to move break even, How much pips to move sl, Lots size, MaximumRisk, DecreaseFactor, TrailingStop, Stop Loss, MagicNumber, TakeProfit…
Time frames: 1-Minute, 5-Minutes, 15-Minutes
Copy and paste the 555 Scalper.mq4 into the MQL4 Experts folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Experts (paste here)