Advanced Scalper EA is an automated trading robot for MT5/MT4 that claims advanced exit algorithms, spread filters, and slippage-control algorithms. The main Advanced Scalper EA input settings show control of these strategies and we are impressed that the vendor provided manuals for easy setup.
The owner of Advanced Scalper is Wim Schrynemakers and we see that he has a long history and experience in the marketplace as his products come out with elaborate resources for buyers.
What we don’t like about this vendor is that he uses pressure tactics for marketing. In the case of Advanced Scalper EA, he claims that only 1 copy is left at the price of $390.
Advanced Scalper EA Review
The Advanced Scalper can be used as a manual trading tool or a fully automated trading software using a High/Low breakout system for entry calculations.
Recommended currency pairs are EURUSD, USDJPY, and GBPUSD. Also, H1 and H4 timeframes are recommended when using in complete auto mode.
The Advanced Scalper allows for 10 activations and there are actually over 12,000 demos downloaded.
The vendor is very conservative when it comes to updating this Forex expert advisor as you can see that the Advanced scalper EA is just at version 1.55 since when it was first released on 26 July 2017.
Strategy
During our review of the Advanced Scalper EA, we saw a couple of advantages such as the use of stop-loss, spread filter, slippage control algorithm, and time filter.
The Trade exit management is controlled using different exit strategies, SL and TP management. Trade entry management is governed by lot size and trading hour settings.
- spread/slippage filters -> Here you can set the spread filter and the slippage control
- time filters -> Here you can set friday-stophour as well as the NFP filter
- other filters -> here you can set various options, like Virtual SL mode and preferred chart-information
- Strategy 1 – Trade Entry management -> here you can set the various parameters to determine the entry of the trades
- Strategy 2 – Manual trade settings -> here you adjust the selection of trades for manual trading, or monitoring of trades from other EA’s
- Trade Exit management -> here you can set all the different exit-strategies, SL and TP management
- Lotsize Settings -> here you can set the method of calculating the lot size for Strategy 1
- Trading Hours -> here you can determine during which hours the EA should be active (for Strategy 1)
The vendor is providing a quick list of features but something worth noting here is that this trading system doesn’t come with a cheap price tag.
Definitely, the vendor has to find a way of convincing us why he believes we should buy this expert advisor when these robot services are creating the best in-class expert advisory program (EA) at a competitive price tag.
Result
The Advanced Scalper long-term account can be seen on the MQl5 signals page. This account has been running for 271 weeks but the reliability is poor.
Trading activity is also very low as the EA traded for only about 68 days out of 862days signals monitoring days.
This MQL5 result shows a Total trade profit of 74.7% and a total trade loss is 25.3%. Maximum drawdown is unacceptable with a possible loss of up to 42.9%.
Conclusion
The Advanced Scalper EA is an automated trading system that utilizes a combination of features for trade entry and exit management. Considering the price of the expert advisor, what we mostly care about is the quality of their trading systems.
With an account showing a high drawdown, I do not see myself recommending this expert advisor now.